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Air Greenland Partners With Avolon for Purchase or Lease of Vertical Aerospace VX4 eVTOL Aircraft

Air Greenland has partnered with aircraft lessor Avolon for the purchase or lease of a fleet of Vertical Aerospace VX4 eVTOL aircraft. The companies will form a Working Group to assess the opportunity to commercialize zero emissions air travel in the region.

Air Greenland Vertical Aerospace VX4 eVTOL Aircraft Rendering - Courtesy Avolon

On Tuesday (March 22, 2022), aircraft lessor Avolon announced the launch of a new partnership with Air Greenland, the national flag carrier of Greenland, for the purchase or lease of a fleet of Vertical Aerospace VX4 eVTOL (electric vertical-takeoff and landing) aircraft. The companies will establish a Working Group to assess opportunities to commercialize zero emissions air travel in the region, including the identification of local infrastructure and certification requirements.

In today’s announcment, Avolon’s CEO, Dómhnal Slattery, said,

“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.”

Also commenting on the new eVTOL partnership, Air Greenland’s CEO, Jacob Nitter Sørensen, said,

“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.”

Vertical Aerospace’s CEO, Stephen Fitzpatrick, added,

“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.”

The VX4 eVTOL aircraft will be built to EASA safety certification standards, the same as commercial aircraft, and will be nearly silent in flight while producing zero operating emissions. The aircraft will be able to transport four passengers and one pilot over 100 miles at a speed of up to 200 miles per hour. The size of Air Greenland’s VX4 fleet will be determined at the conclusion of the Working Group’s market analysis.

Avolon ordered 500 Vertical Aerospace VX4 eVTOL aircraft in June 2021, valued at $2.0 billion. Since that time, Avolon has placed 250 with Gol and Grupo Comporte in Brazil, up to 100 with Japan Airlines, and a minimum of 100 with AirAsia, representing up to 90 percent of their orderbook with Vertical.

Headquartered in Ireland, Avolon is a major international provider of aircraft leasing and lease management services. The company also has offices in the U.S., Dubai, Hong Kong and Shanghai. Avolon is 70 percent owned by an indirect subsidiary of Bohai Leasing Co., Ltd., a public company listed on the Shenzhen Stock Exchange, and 30 percent owned by ORIX Aviation Systems, a subsidiary of ORIX Corporation.

Source: Avolon


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