Gözen Holding orders 100 Vx4 aircraft from Avolon to provide zero-emission air travel in Turkey

DUBLIN & ISTANBUL–(BUSINESS WIRE)–Avolon, the international aircraft leasing company, announces that Gözen Holding, one of Turkey’s leading aviation conglomerates and owner of Freebird Airlines, has committed to purchase or lease up to 50 aircraft Avolon’s VX4 eVTOL, with the option to purchase or lease up to 50 additional aircraft. Following this announcement, Avolon has now placed its entire backlog of 500 VX4 eVTOL aircraft, with the backlog oversubscribed by 50 options.

As part of the agreement, Avolon, through its investment and innovation subsidiary Avolon-e, has formed a strategic partnership with Gözen Holding to commercialize zero-emission eVTOL travel and develop a platform for Urban Air Mobility (UAM) industry leader in Turkey. Avolon and Gözen Holding will collaborate in a working group to identify and target local partners, research potential market opportunities, as well as infrastructure and certification requirements for UAM. The partnership will allow Avolon to leverage Gözen Holding’s expertise in flight operations, pilot training, airport management and security, airline representation as well as digital platforms, while Gözen Holding will benefit from Avolon’s deep industry expertise and global platform of UAM workgroups, which are active in Brazil (with GOL), Greenland (with Air Greenland), Japan (with Japan Airlines) and South Asia Southeast (with AirAsia).

Dómhnal Slattery, CEO of Avolon commented: “Today marks a significant milestone in our eVTOL journey as we have now fully placed our VX4 backlog with some of the major airlines and international airlines around the world. evidenced by our placement progress to date, zero-emission eVTOL air travel will reshape the short-haul travel market, and our partnership with Gözen Holding will create a UAM pioneer in Turkey, bringing sustainable air travel to the region.

Strong demand for our VX4 backlog and for zero-emission travel confirms our view that demand for eVTOL aircraft will always exceed supply. Accordingly, we will continue to work with other partners who wish to purchase or lease the VX4 to fully size the potential market and demand for this aircraft.

Mekin Gözen, CEO of Gözen Holding, commented: “We are delighted to announce our partnership and VX4 order with Avolon. As an integral part of the Turkish aviation industry, we believe it is our responsibility to be at the forefront of the sustainability movement and that is why we have identified Avolon and Vertical’s VX4 as the zero-emission eVTOL aircraft that will revolutionize air travel. . With more than 15 million inhabitants in Istanbul, the city is constantly confronted with traffic jams which hinder both the development of the cities and their attractiveness as a tourist and commercial site. We strongly believe that the deployment of VX4 will radically reshape Istanbul and the rest of Turkey. Our partnership with Avolon will enable us to create an eVTOL ecosystem in the country and is the first step in bringing sustainable air transport to the region, positioning it as a global leader.

Stephen Fitzpatrick, Founder and CEO of Vertical commented: “We are delighted that Turkey has been added to the global destinations where the VX4 will fly. We look forward to welcoming Gözen to the Vertical family and continuing to celebrate our growing partnership with Avolon.”

UAM Opportunity in Istanbul and Turkey

The UAM market potential in Istanbul, Turkey and surrounding countries is significant. Istanbul offers one of the most unique opportunities in the world for eVTOL due to its remote airports, traffic congestion and extensive waterway networks. With over 50 million people using ferries or city boats in Istanbul each year, eVTOLs offer a faster, quieter and more sustainable form of travel, helping to reduce the environmental footprint of travellers. Ancient and modern Istanbul and surrounding attractions such as Cappadocia, Troy, Mount Ida, Antalya, Izmir, Çeşme, Bodrum, Marmaris and Fethiye present compelling eVTOL use cases that the task force will explore. These attractions make the country one of the most sought-after tourist and business destinations in the world.

About Avolon’s VX4 Backlog

In June 2021, Avolon ordered 500 VX4 eVTOL aircraft from Vertical Aerospace (NYSE: EVTL) (“Vertical”), valued at US$2 billion. Since the announcement of this order, Avolon has placed 250 VX4 aircraft with GOL and Grupo Comporte in Brazil, up to 100 aircraft with Japan Airlines in Japan, a minimum of 100 aircraft with AirAsia and up to 100 aircraft with Gözen Holding. Avolon has now fully placed its entire initial VX4 order book, with the order book oversubscribed by 50 options.

About the VX4 eVTOL Aircraft

The four-passenger, one-pilot VX4 is expected to have speeds of up to 200 mph, a range of over 100 miles, nearly silent in flight, zero operating emissions and a low cost per passenger mile. From its introduction, the VX4 will be designed according to the safest certification standards, set by EASA, at the same level as commercial aircraft. The VX4 is expected to open up advanced air mobility to a whole new range of passengers and transform the way we travel. Learn more: vertical-aerospace.com

About Avlon

Headquartered in Ireland, with offices in the United States, Dubai, Singapore, Hong Kong and Shanghai, Avolon provides aircraft leasing and leasing management services. Avolon is 70% owned by an indirect subsidiary of Bohai Leasing Co., Ltd., a public company listed on the Shenzhen Stock Exchange (SLE: 000415) and 30% by ORIX Aviation Systems, a subsidiary of ORIX Corporation which is listed on the Tokyo and New York stock exchanges (TSE: 8591; NYSE: IX). Avolon is the second largest aircraft leasing company in the world with an owned, managed and committed fleet, as of December 31, 2021, of 824 aircraft.

Website: www.avlon.aero

Twitter: @avolon_aero

About Gozen Holding

Gözen Holding is a group of companies active in the field of airlines, representation, surveillance, fuel, control, brokerage, security and training in the aviation industry. With its experience and know-how acquired over 43 years, Gözen Holding has become a brand in the sector by bringing together its companies Gözen Air Services, Freebird Airlines, Freebird Airlines Europe, Gözen Security Services, Free Bird Travel, IFTC International Flight Training Center, AFSC Antalya Flight Simulator Center, Flydog K9 Services and Gözen Digital Aviation under one roof.

Gözen Holding continues its successful activities in the field of tourism and aviation sector with its more than 3,500 employees.

Website: https://www.gozenholding.com

About Vertical Aerospace

Vertical Aerospace is a pioneer in electric aviation. The company was founded in 2016 by Stephen Fitzpatrick, an established entrepreneur best known as the founder of the Ovo Group, a leading energy and technology group and the largest independent energy retailer in Europe. Over the past five years, Vertical has focused on building the most experienced and experienced team in the eVTOL industry, which has over 1,700 combined years of engineering experience, and has certified and supported over 30 different civil and military aircraft and propulsion systems.

Vertical’s premium partner ecosystem is expected to reduce operational execution risks and its path to certification enables a lean cost structure and enables large-scale production. Vertical has a market-leading backlog of pre-orders (by value) for a total of up to 1,350 aircraft from American Airlines, Avolon, Bristow and Iberojet, which includes conditional pre-order options from Virgin Atlantic and Marubeni, and in doing so, creates multiple potential short-term and actionable pathways to market.

Vertical’s common stock is listed on the NYSE in December 2021 under the symbol “EVTL”. Find out more: www.vertical-aerospace.com