Avolon signs air taxi deal with Turkish conglomerate Gozen Holding

Dublin-based aircraft lessor Avolon has agreed to sell up to 100 flying taxis to Turkish airline conglomerate Gözen Holding, the last of the $2 billion order of the battery-powered aircraft from UK startup Vertical Aerospace.

The owner of Freebird Airlines has committed to purchase or lease up to 50 VX4 eVTOL aircraft from Avolon, with the option for an additional 50 aircraft.

The deal means the company has fully placed its VX4 orderbook.

The deal will see Avolon form a strategic partnership with Gözen Holding to commercialise zero-emissions eVTOL travel and develop an urban air mobility (UAM) platform in Turkey.

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In June last year, Avolon ordered 500 of the aircraft from Vertical Aerospace. It has since placed 250 VX4 aircraft with GOL and Grupo Comporte in Brazil, up to 100 aircraft with Japan Airlines in Japan, at least 100 aircraft with AirAsia, and up to 100 aircraft with Gözen Holding, making its orderbook over subscribed.

Avolon chief executive Dómhnal Slattery said the deal marked an important milsetone for the company.

“The opportunities to deploy the VX4 are enormous and, as is evident with our placement progress to date, zero emissions eVTOL air travel will reshape the short-haul travel market. Our partnership with Gözen Holding will create a pioneer in UAM in Turkey, bringing sustainable air travel to the region,” he said.

“The strong demand for our VX4 orderbook and for zero emissions travel, confirms our view that demand for eVTOL aircraft would always outstrip supply. As a result, we will continue working with other partners that want to purchase or lease the VX4 in order to fully size the potential market and demand for this aircraft.”