22 Mar 2022

AVOLON AND AIR GREENLAND PARTNER TO TACKLE CLIMATE CHANGE BY BRINGING ZERO-EMISSIONS AIR TRAVEL TO THE REGION


Air Greenland commits to purchasing or leasing from Avolon a fleet of Vertical Aerospace VX4 eVTOL aircraft

Air Greenland is the first European airline to join Avolon’s eVTOL programme, starting its decarbonisation journey where it matters the most

Dublin/Nuuk, 22 March 2022 - Avolon, the international aircraft leasing company, announces that it has partnered with Air Greenland, the flag-carrier for Greenland, to bring zero-emissions travel to the region and help tackle the issue of climate change.

Avolon and Air Greenland will partner to form a Working Group to assess the opportunity to commercialise zero-emissions air travel in the region. The Working Group will also collaborate to identify local infrastructure and certification requirements for eVTOL aircraft. As part of the agreement, Air Greenland will commit to purchasing or leasing a fleet of VX4 eVTOL aircraft, manufactured by Vertical Aerospace (NYSE: EVTL) (‘Vertical’), from Avolon. Upon its introduction, the VX4 will be the most advanced and the safest eVTOL in the market and will be built to EASA safety certification standards – the most stringent global requirements and at the same level as commercial aircraft. The VX4 will be near silent when in flight and will have zero operating emissions, transporting four passengers and one pilot distances of over 100 miles at up to 200 miles per hour. The size of Air Greenland’s VX4 fleet will be defined at the conclusion of the Working Group’s assessment of the scale of the market opportunity.

Dómhnal Slattery, CEO of Avolon commented: “Since our initial order, we have seen airlines all over the world make a commitment to the zero emissions travel by selecting the VX4 aircraft as the first step in their decarbonisation journey. Today’s announcement with Air Greenland means we are taking zero-emissions travel to where climate change is having its most pronounced impact. We look forward to working with Air Greenland to bringing the zero-operating emission VX4 aircraft to where it matters the most.”

Download the Avolon and Air Greenland partnership video here: https://f.io/kgjS6jbv

Jacob Nitter Sørensen, CEO of Air Greenland, commented: “Today’s announcement marks the start of our long-term sustainability journey, and we are excited about bringing zero emissions travel to our region. In Greenland, we see the effects of climate change every day and, as a company, we want to be at the forefront of the climate revolution. The VX4 aircraft will have many uses for Air Greenland and, through our partnership with Avolon, we look forward to welcoming our first travellers onboard in the near future – flying our guests to Ilimanaq Lodge to show the visible impacts that climate change is having on our country and planet.”

Stephen Fitzpatrick, CEO of Vertical Aerospace, commented: “We are delighted that Air Greenland has chosen the VX4 to bring zero emissions air travel to the region. This partnership is a significant first step in introducing sustainable air mobility to Greenland.”

Avolon Map

About Avolon’s VX4 Order book
In June 2021, Avolon ordered 500 VX4 eVTOL aircraft from Vertical, valued at US $2 billion. Since announcing that order, Avolon placed 250 VX4 aircraft with Gol and Grupo Comporte in Brazil, up to 100 aircraft with Japan Airlines in Japan, and a minimum of 100 aircraft with AirAsia. Avolon has now placed up to 90% of its initial orderbook, underlining the demand for VX4 aircraft from the world’s leading airlines.

For Further Information Please Contact

Avolon

Ross O' Connor
Head of Capital Markets
+353 1 231 5818
[email protected]

FTI Consulting

Jonathan Neilan
+353 1 765 0886
[email protected]

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