Eve Air Mobility and Future Flight Global Sign Letter of Intent for up to 54 eVTOLs Serving Brazil and the United States

Rhea-AI Summary

Eve Air Mobility (NYSE: EVEX) has signed a Letter of Intent with Future Flight Global for up to 54 electric Vertical Take-Off and Landing (eVTOL) aircraft, targeting Brazil and United States markets. The partnership aims to transform urban mobility by deploying eVTOL aircraft to reduce travel times and ease congestion in major cities. Future Flight Global, headquartered in Washington, DC, will leverage its operational expertise and strong presence in Brazil to expand Eve's market share. The agreement builds on Eve's existing backlog of LOIs from various transportation entities and follows the release of Eve's Global Market Outlook, which details urban air mobility growth prospects for the next two decades. Eve's eVTOL technology is backed by Embraer's 55-year aerospace expertise.

Positive

• Strategic partnership expands Eve's market presence in two major markets: Brazil and United States
• Agreement adds up to 54 eVTOL aircraft to Eve's order backlog
• Partnership leverages Embraer's 55-year aerospace expertise and certification experience
• Alignment with growing urban air mobility market trends identified in Eve's Global Market Outlook

Negative

• LOI is non-binding and subject to final agreement
• No specific timeline provided for aircraft delivery or deployment
• Financial terms of the agreement not disclosed

Insights

Aerospace Industry Analyst

Eve's LOI with Future Flight Global strengthens its eVTOL market position but represents only potential future revenue without binding commitments.

Eve Air Mobility has secured another Letter of Intent (LOI) for its electric vertical takeoff and landing (eVTOL) aircraft, adding up to 54 potential vehicles to its order book through Future Flight Global. This agreement targets operations in Brazil and the United States, two key markets for urban air mobility adoption.

The deal's significance lies in its strategic positioning rather than immediate financial impact. LOIs represent non-binding preliminary agreements that signal interest but don't guarantee purchases. Eve has been actively building its backlog through similar arrangements with various operators, creating a foundation for future revenue once its aircraft achieves certification.

The partnership leverages complementary strengths: Eve contributes its eVTOL technology and Embraer's established certification expertise, while Future Flight Global brings operational knowledge and market access. The focus on Brazil is particularly strategic given Embraer's Brazilian roots and regulatory relationships with ANAC (Brazil's aviation authority).

This announcement aligns with Eve's recently published Global Market Outlook that projects significant urban air mobility growth driven by increasing urbanization and traffic congestion. However, the eVTOL sector faces substantial hurdles in certification, infrastructure development, and public acceptance before reaching commercial viability.

While the LOI enhances Eve's potential market position, investors should recognize that production revenues remain years away, with certification processes and infrastructure development representing critical milestones before meaningful commercialization can begin.

PARIS, June 18, 2025 /PRNewswire/ -- Eve Air Mobility ("Eve") (NYSE: EVEX; EVEXW) has signed a Letter of Intent (LOI) with Future Flight Global, a pioneer in electric aircraft for up to 54 electric Vertical Take-Off and Landing (eVTOL) aircraft, targeting the Brazil and United States markets. This LOI strengthens Eve's backlog of LOIs ranging from global carriers to regional airlines to urban transportation-focused entities such as Future Flight Global.

"This collaboration with Future Flight Global is a significant step forward for Urban Air Mobility in the Americas. By leveraging Eve's proven eVTOL technology and robust certification process, Future Flight Global gains a powerful platform to deliver efficient, sustainable air travel in high-demand markets such as Brazil and the United States," said Megha Bhatia, chief commercial officer at Eve Air Mobility. "We're excited to be their strategic partner in this endeavor, laying the groundwork for substantial future orders as they expand their fleet."

Headquartered in Washington, DC, Future Flight Global will draw on its deep operational expertise to expand Eve's existing and substantial market share, while leveraging its strength in Brazil to serve that market. Together, the companies aim to transform urban mobility on a global scale by deploying eVTOL aircraft that dramatically reduce travel times and ease congestion in major cities.

"We are building a diversified electric aircraft fleet for global deployment across multiple mission profiles," said Karan Singh, chief executive officer of Future Flight Global. "Eve's aircraft—rooted in Embraer's 55-year legacy of designing, certifying, and supporting commercial and business aircraft—checks every box: strong performance parameters, passenger-first ergonomics, clear certification pathway, and scalable production system. We look forward to ANAC certification and deploying these aircraft in Brazil and additional high-demand markets worldwide in the near future."

This announcement follows the release of Eve's inaugural Global Market Outlook, detailing the growth and demand surrounding the urban air mobility category for the next twenty years. Urban growth and higher traffic congestion are two critical drivers for the category, and this partnership between Eve and Future Flight Global is emblematic of the overall industry expansion that the Global Market Outlook points to.

Image: Future Flight Global Eve Livery

About Eve Air Mobility
Eve Air Mobility is dedicated to accelerating the Urban Air Mobility ecosystem. Benefitting from a start-up mindset, backed by Embraer's 55-year history of aerospace expertise, and with a singular focus, Eve is taking a holistic approach to progressing the UAM ecosystem, with an advanced eVTOL project, comprehensive global services and support network and a unique air traffic management solution. Since May 10, 2022, Eve is listed on the New York Stock Exchange where its shares of common stock and public warrants trade under the tickers "EVEX" and "EVEXW". For more information, please visit www.eveairmobility.com.

About Future Flight Global
Future Flight Global (FFG) is a pioneer in the adoption, implementation, and integration of advanced air transportation. We deliver innovative, sustainable, and safe mobility solutions that seamlessly connect the world. FFG leverages its extensive knowledge of the aircraft operations ecosystem to drive advancements in this emerging industry and lead the third aerospace revolution. For more information, visit www.ffg.aero.

Forward-Looking Statement Disclosure
Certain statements contained in this release are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as "may," "will," "expect," "intend," "anticipate," "believe," "estimate," "plan," "project," "could," "should," "would," "continue," "seek," "target," "guidance," "outlook," "if current trends continue," "optimistic," "forecast" and other similar words or expressions. All statements, other than statements of historical facts, are forward-looking statements, including, but not limited to, statements about the company's plans, objectives, expectations, outlooks, projections, intentions, estimates, and other statements of future events or conditions, including with respect to all companies or entities named within. These forward-looking statements are based on the company's current objectives, beliefs and expectations, and they are subject to significant risks and uncertainties that may cause actual results and financial position and timing of certain events to differ materially from the information in the forward-looking statements. These risks and uncertainties include, but are not limited to, those set forth herein as well as in Part I, Item 1A. Risk Factors and Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations of the company's most recent Annual Report on Form 10-K, Part I, Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations and Part II, Item 1A. Risk Factors of the company's most recent Quarterly Report on Form 10-Q, and other risks and uncertainties listed from time to time in the company's other filings with the Securities and Exchange Commission. Additionally, there may be other factors of which the company is not currently aware that may affect matters discussed in the forward-looking statements and may also cause actual results to differ materially from those discussed. The company does not assume any obligation to publicly update or supplement any forward-looking statement to reflect actual results, changes in assumptions or changes in other factors affecting these forward-looking statements. other than as required by law. Any forward-looking statements speak only as of the date hereof or as of the dates indicated in the statement.

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SOURCE Eve Air Mobility

FAQ

What is the size of Eve Air Mobility's LOI with Future Flight Global?

The Letter of Intent is for up to 54 eVTOL aircraft to serve markets in Brazil and the United States.

What markets will Future Flight Global serve with Eve's eVTOL aircraft?

Future Flight Global will deploy the eVTOL aircraft in Brazil and the United States markets.

Who is Future Flight Global partnering with for eVTOL aircraft?

Future Flight Global is partnering with Eve Air Mobility (NYSE: EVEX), an Embraer-backed company, for eVTOL aircraft.

What is the purpose of Eve's partnership with Future Flight Global?

The partnership aims to transform urban mobility by deploying eVTOL aircraft to reduce travel times and ease congestion in major cities.

What certification is Future Flight Global seeking for Eve's eVTOL aircraft?

Future Flight Global is looking forward to ANAC (Brazilian aviation authority) certification for deploying these aircraft in Brazil and other markets worldwide.