Ireland-headquartered lease company Avolon has signed a non-binding MoU with AirAsia Aviation Group for the lease of a minimum of 100 VX4 eVTOL aircraft.

Through its investment and innovation affiliate Avolon-e, Avolon will partner with AirAsia to commercialise zero-emissions eVTOL aircraft and develop an industry leading UAM platform in southeast Asia. The two companies will form a working group to pursue local certification, research potential market opportunities and infrastructure requirements. AirAsia will also leverage its travel and lifestyle mobile app, the AirAsia super app, to help support and build an eVTOL ride sharing platform.

In June 2021, Avolon ordered 500 VX4 eVTOL aircraft from developer Vertical Aerospace, valued at US $2 billion. Since then, it has placed 250 units with Gol and Grupo Comporte in Brazil, up to 100 with Japan Airlines. With the AirAsia order, it has placed up to 90 per cent of its initial orderbook.

CEO Dómhnal Slattery says: “Tony Fernandes is an aviation pioneer who has built AirAsia into one of the leading airlines in the world, and has now also created southeast Asia's fastest growing super app anchored on travel. We are delighted to partner with AirAsia, which shares our vision of revolutionising the future of air travel. We look forward to working with Tony and the AirAsia team on their eVTOL journey. Together we will develop a ride sharing platform and bring the zero-emissions VX4 aircraft into service, positioning AirAsia as the operator of choice for sustainable air travel in the region.”

Capital A CEO Tony Fernandes adds: “Innovation has always been in our DNA, and using technology to look at more efficient and sustainable ways of doing things is a core focus across Capital A (formerly AirAsia Group). We are now much more than just an airline, with over 20 products and services on our super app leveraging off each other, including flights, hotels, food, retail, delivery, ride hailing and more. I am truly excited about this partnership between Avolon and AirAsia and the potential for zero-emissions ultra-short-haul air travel in this region.

"The digital era is now. In the VX4, we have identified what we believe will be the eVTOL aircraft of choice, and we are thrilled to be the launch airline for the aircraft in southeast Asia. We are also delighted to extend our long-standing relationship with Avolon, which has a proven track record of delivering for its customers and is in sync with our goal to become the leading one stop travel and delivery platform in the ASEAN.”

Vertical CEO Stephen Fitzpatrick concludes: "We are delighted that AirAsia is the latest leading airline committing to lease our VX4 aircraft. AirAsia provides many fantastic opportunities to travel around some of the most beautiful and diverse countries in the world, and I am thrilled that we will be bringing zero emissions flight to people all across Asia."