Latest news with #urbanAirMobility
Travel Daily News
11 hours ago
- Business
- Travel Daily News
Eve Air Mobility announces up to $15.8m. FINEP grant
Eve Air Mobility secures $15.8m. grant from FINEP to advance sustainable urban air mobility technologies and eVTOL operational infrastructure in Brazil. SAO PAULO, BRAZIL – Eve Air Mobility announced that it has been selected in a public call by FINEP, Brazil's Funding Authority for Studies and Projects, to receive a grant of up to $15.8 million1. The total project investment amount is up to $33.8 million2, combining the FINEP grant with Eve's required company contribution. This is the first grant (non-repayable funding) awarded to Eve, reinforcing the company's leadership in developing innovative solutions for sustainable urban air mobility. The grant, awarded under FINEP's public selection for 'Technologies for More Sustainable Aviation', is aligned with the strategic focus areas defined by the call, such as autonomous flight systems, advanced energy storage, hybrid-electric and hydrogen propulsion, sustainable aviation fuel (SAF) testing, noise reduction, efficient aircraft configurations, new materials, and advanced air traffic management systems for advanced air mobility (AAM). Eve's project will prioritize the areas most relevant to its innovation roadmap. 'This partnership with FINEP marks a pivotal milestone for Eve and the broader Brazilian aerospace ecosystem', said Johann Bordais, CEO of Eve Air Mobility. 'Our mission is to reimagine people's relationship with time, space, and the city by creating safe, sustainable, and efficient air mobility experiences. Leveraging from Embraer's 55-year legacy and our innovative mindset, this grant will enable us to accelerate the development of advanced digital solutions and technologies that will shape the future of urban air mobility in Brazil and beyond'. Luiz Mauad, Vice President of Customer Services at Eve, added: 'Supporting the future operation of eVTOLs requires a robust digital backbone — this is the foundation for scalable AAM operations. By developing our digital platforms and service solutions in parallel with our aircraft, we empower our customers with an integrated, one-stop-shop experience that ensures operational efficiency, safety, and high availability from day one'. Elias Ramos de Souza, President of FINEP, stated that: 'This project represents our belief that eVTOLs are a future disruptive trend in the UAM scenario. We are very glad to partner with Eve in this endeavor, in a funding that enhances our position of more than BRL 1 billion in support to Embraer and its investees.' A central pillar of this project is the advancement of Eve's digital ecosystem, including the continued development of Eve TechCare – its fully integrated aftermarket services platform. Eve TechCare is a pioneer all-in-one suite of solutions designed to streamline eVTOL operations by providing the industry's most comprehensive services, expert customer support, and cutting-edge operational solutions. The aftermarket portfolio consists of technical support and solutions, MRO services, parts and battery solutions, as well as training services and flight operations solutions. Eve TechCare's service and support solutions will cover all the operational aspects necessary to ensure the daily eVTOL operation. The company is advancing the current stage of the eVTOL development, which involves a series of comprehensive tests with the prototype to evaluate every aspect of the aircraft's operation and performance, from flight capabilities to safety features. 1 Equivalent amount in US dollars; BRL 90 million in local currency (Brazilian real – BRL). 2 Equivalent amount in US dollars; BRL 191 million in local currency (Brazilian real – BRL).
Trade Arabia
3 days ago
- Business
- Trade Arabia
Embraer deepens commitment to India with new subsidiary
Brazilian aerospace and defence major Embraer today announced a significant reinforcement of its commitment to India with the establishment of a fully owned Indian subsidiary which will have its corporate office in AeroCity, New Delhi. This strategic move underscores Embraer's long-term vision for growth and potential collaboration with India's rapidly evolving aerospace and defence landscape. The establishment of a subsidiary in India aims at strengthening its interests across defence, commercial aviation, business aviation, services and support and the burgeoning urban air mobility sector. Embraer is working on growing its team in the country, building capacity to capitalise on the opportunities within the country's ever-evolving aerospace and defense industry. This includes establishing teams across corporate functions and specialized cells focused on procurement, supply chain and engineering. 'India is a key market for Embraer, and this expansion demonstrates our unwavering commitment to the country,' said Francisco Gomes Neto, President & CEO of Embraer. 'We are excited to deepen our collaboration with the Indian aerospace and defense industry, leveraging our expertise and technology to contribute to the nation's growth and Make in India campaign. We see significant opportunities across defense, commercial aviation, business aviation, services & support, and the emerging urban air mobility sector.' Embraer is significantly deepening its engagement in India. The company has a substantial footprint with nearly 50 Embraer aircraft and 11 aircraft types currently operating in the country - from commercial aviation, defense and business aviation, all supported by Embraer's service and support network in the country. Embraer's growth in the country also underscores the strengthening of ties between Brazil and India, with Embraer's expansion in the region reflecting a shared commitment to deeper collaboration and mutual growth. Embraer's involvement in India, including participating at the upcoming IATA AGM 2025 in New Delhi, highlights the company's strategic focus on the Indian market and ongoing efforts to engage with key stakeholders across the aviation ecosystem. This announcement builds upon recent strategic moves Embraer has made in India, including an MoU signed in February 2024 between Embraer Defense & Security and Mahindra Defence Systems to evaluate the opportunity to jointly pursue the Indian Air Force's Medium Transport Aircraft (MTA) program with the C-390 Millennium. The C-390 is a new generation multi-mission aircraft designed and built to take on the demands of the 21st century operating environment. The aircraft is the most advanced in its class and flies faster (470kts) and further on a standard crew duty day. It also carries more cargo (26 tons) compared to other medium sized military cargo aircraft. The C-390 has been in operation for many years at Full Operational Capability and can perform a wide range of missions such as transporting and dropping cargo and troops, medical evacuation, search and rescue, humanitarian missions, firefighting and air-to-air refueling both as a tanker and a receiver. On the commercial aviation front, the E-Jets family of regional and small narrowbody aircraft brings significant benefits to India's air connectivity by unlocking 'blue ocean' opportunities found in tier two and tier three cities and contributing to India's aspirations of becoming a leading global aviation hub. The E-Jets have transformed and enhanced regional connectivity as proven with Star Air – an all-Embraer operator of E175 and ERJ145 aircraft. With a range beyond the turboprop and capacity below the 180-seat narrowbody, the E-Jets are empowering airlines to tap on the next frontier of growth through enhanced regional connectivity and optimization of capacity to demand on thin routes. Embraer aircraft that are operated by Indian Forces include the Legacy 600 aircraft used for the transportation of government officials and VIPs by the Indian Air Force (IAF) and Border Security Force (BSF) and the 'Netra' AEW&C aircraft based on the Embraer ERJ145 platform operated by the IAF. - TradeArabia News Service
Globe and Mail
26-05-2025
- Business
- Globe and Mail
Short Sellers Are Targeting Archer Aviation Stock. Should You Ditch ACHR Shares Now?
Founded in 2018, Archer Aviation (ACHR) is seeking to disrupt air travel with the development of electric vertical takeoff and landing (eVTOL) aircraft. Aiming to revolutionize urban air mobility, Archer's shares have soared by a sensational 217% in the past year, propelling its market cap to nearly $5.9 billion. However, the high-flying stock dove in late-May after Culper Research came out a new short report on the company. Alleging that Archer has 'systematically misled, deceived, or outright lied' to investors about almost all milestones related to the development and testing of its eVTOL aircraft, Midnight, the firm went on to further say Archer's continued promotion of near-term commercialization is 'not only premature, but reckless.' Dismissing the allegations as baseless, the company stated "Culper is not a credible research institution. Archer has attracted significant attention due to its recent momentum and positive high-profile news. [Founder Christian Lamarco's] claims are baseless.' So, what should investors do about ACHR stock now? A deeper look into the company's financials, strategies, and operational initiatives may help to make an informed choice. Losses Narrowed in Q1 Archer's results for the most recent quarter saw its losses narow dramatically to $0.17 per share from $0.36 per share in the year-ago period. Along with that, the pre-revenue company more than doubled its cash balance to just over a billion dollars at $1.03 billion. Meanwhile, although adjusted EBITDA losses widened to $109 million from $86.8 million in Q1 2024, the company revealed some encouraging developments in the quarter. The company forged a partnership with AI-led data analytics platform Palantir (PLTR) for the development of next-gen software utilizing AI to improve a range of aviation systems. Notably, Archer already has a presence in the defense sector through its earlier partnership with Anduril to build a hybrid aircraft platform in an expected multibillion dollar opportunity. Next, Archer announced the 'Launch Edition' program in February to accelerate the commercial deployment of Midnight while also securing two key customers in Abu Dhabi Aviation and Ethiopian Airlines. Finally, it also received a major boost after being named the official air taxi partner for the 2028 Olympics in Los Angeles. Potential to Be an Aviation Gamechanger Archer stands among the frontrunners in a fast-expanding industry poised for dramatic transformation. Industry projections suggest that by 2030, over 2,000 commercial eVTOL aircraft could be delivered, underlining a robust global compound annual growth rate of 54.9% between 2024 and 2030. To maintain its leadership position within this accelerating space, Archer continues to build strategic momentum. Most recently, the company unveiled plans to establish an urban air mobility network in New York City. In support of this initiative, Archer is collaborating with major aviation infrastructure providers, including Atlantic Aviation, Signature Aviation, and Skyports, as they adapt existing airport facilities for electric aircraft. The company also broadened its network by bringing Modern Aviation and Air Pegasus on board. In partnership with United Airlines (UAL), this project aims to create seamless 5- to 10-minute flight routes connecting key regional airports to central Manhattan and surrounding urban nodes. Progress on the technical front is also advancing. Archer is preparing to initiate piloted flight trials, a pivotal step in its development journey that could significantly reduce execution risk and move the company closer to commercial readiness. Additionally, Archer has already secured an order pipeline exceeding $6 billion, reflecting strong demand not only domestically, but also in international markets such as the Middle East and Africa —where it has an existing arrangement with Abu Dhabi Aviation. Further bolstering its operational readiness, Archer recently received FAA type certification for its Midnight aircraft. This regulatory milestone confirms that the aircraft meets key criteria related to airworthiness, emissions, noise, and safety, effectively positioning the company to begin fulfilling its substantial backlog. Analyst Opinions on ACHR Stock Analysts have given Archer stock a 'Moderate Buy' with a mean target price of $12.25, which indicates upside potential of about 17% from current levels. Out of nine analysts covering the stock, five have a 'Strong Buy' rating, two have a 'Moderate Buy' rating, and two have a 'Hold' rating.
The Sun
21-05-2025
- Automotive
- The Sun
World's first ‘heli-plane' that takes off vertically & transforms into jet to whisk passengers away at 280mph
THE world's first 'heli-plane' is a glossy mini-jet, capable of ferrying six passengers at 280mph for stylish short-haul travel. And it just hit a major milestone. 6 6 The Cavorite X7, from Horizon Aircraft, made aviation history earlier this month when it became the first electric vertical take-off and landing aircraft (eVTOL) to achieve a stable wing-borne flight transition using a fan-in-wing design. It flies just like a conventional aircraft, but it takes off and lands vertically like a helicopter. The mini-jet has 14 fans embedded within its wings that allow it to hover off the ground. Before a gas-powered turbine engine pushes the aircraft forward like a normal plane. Brian Robinson, chief engineer and co-founder of Horizon, said: "This incredible achievement validates our unique and robust approach to the transition phase of flight. "In our aircraft, the transition phase was designed from the beginning to be a non-event, as there are no complicated multi-copter rotating nacelles or heavy tilt-wing mechanisms, and we have multiple layers of redundancy. "The result is an extremely safe and stable transition, a vital part of eVTOL operations, and an area in which many of our competitors have faced serious challenges." 6 Many startups around the world are working on eVTOL jets and heli-planes for short-haul flights. They are expected to work particularly well in urban areas, and some are being sold as 'air taxis' so people can Uber around the skies. Horizon appears to be yet another company trying to muscle in on the air taxi market. The Canadian aerospace engineering firm believes there are several applications for these jets to be used across civilian life. Though they could also be used in defence, the company says, such as quick rescue missions in hard-to-reach areas. The benefits of the vertical lift means the Cavorite X7 doesn't need a runway to get to you - only a flat surface and an open sky. Almost any H1-H3 rated helipad, aircraft carrier, hospital roof - or even ski resort - could act as a takeoff area for the Cavorite X7. Just as long as the final approach and takeoff area is 1.5 times the overall length of the jet itself, and the touchdown and lift-off area weight isn't exceeded. With a maximum gross weight of 5,500lbs (2,500kg), it can carry a fair bit of luggage - or up to 1,500lbs (680kg) of cargo for vertical takeoffs. It can carry slightly more for conventional runway launches, with a max weight of 1,800lbs (815kg). Horizon says the hammerhead-style jet will be capable of a 288mph cruising speed with an impressive 500mile (800km) range with reserves - which is much further than some competitors. 6 6 6
Gulf Business
20-05-2025
- Automotive
- Gulf Business
Flying cars in the UAE? Trial date for electric air taxi revealed
Image credit: WAM/Website Trial flights of Archer Aviation's first fully electric vertical takeoff and landing (eVTOL) aircraft, Midnight, are set to begin before the end of 2025, Dr Talib Alhinai, General Manager of Archer Aviation, said. Read- Speaking on the sidelines of the 'Make it in the Emirates' forum, Alhinai said the aircraft marks a major step toward the country's urban air mobility goals, with operations expected to begin in Abu Dhabi ahead of a full commercial rollout. Aircraft 'Midnight': How does this air taxi function? Designed for sustainable urban transport, Midnight can carry four passengers and a pilot, operates entirely on electric power, and takes off and lands vertically like a helicopter. However, its design and operational profile are optimised for efficient short-distance flights. Alhinai said initial test flights will take place in unpopulated areas, gradually expanding into urban zones as part of a phased deployment approach. A formal date for the start of commercial service has not been set. The exact date for commercial operations will be announced in due course, pending the completion of all necessary technical and operational requirements. Regarding its technical features, Alhinai explained that Midnight is equipped with a fixed wing and 12 electric motors—six at the front and six at the rear. The front motors can rotate between 0 and 90 degrees, allowing for a seamless transition from vertical ascent to horizontal flight in just 45 seconds. Potential manufacturing in the UAE On local production, Alhinai said the company has signed a framework agreement with the Abu Dhabi Investment Office to establish a research center and explore manufacturing opportunities in the UAE. Further details will be announced soon.
