Korea’s first urban air mobility provider Vonaer has signed a letter of intent (LOI) with South Korean hybrid-based AAM aircraft developer Plana to acquire 20 CP-01 hybrid eVTOL aircraft. Under the agreement, Vonaer will receive five certified aircraft by 2033, followed by an additional 15 by 2040. Including this contract, Plana has secured pre-orders for a total of 127 aircraft, amounting to a supply agreement of $664 million.

Plana’s CP-01 is a six-passenger, single-pilot aircraft equipped with a series hybrid power management system, simultaneously operating a certified turbogenerator and a battery system. It leverages Instrument Flight Rule (IFR) and Simplified Vehicle Operation (SVO) technology, achieving a service range of over 300 miles on a single refuelling and a maximum speed of more than 350km/h. Its all-electric propulsion system reduces noise to 1/100th the level of a helicopter, maximising social acceptance, with the added advantage of utilising existing infrastructure such as helicopter pads.

“Our company has now completed the establishment of a Delaware corporation in the US and plans to finalise its headquarters relocation to the US within this year to pursue FAA certification, capital raising and market entry,” says Braden J. Kim, founder and CEO of Plana. “Vonaer is a highly influential air mobility service platform provider in Asia. Our aircraft will create a much larger market in a sector currently served by helicopters.”

He adds, “Vonaer is a partner we signed an MOU with in May 2023. We have jointly analysed the data realistically required by the market and collaborated on how to properly shape the new experience of air travel using VTOLs.”

Vonaer is expanding from helicopter-based services to private jets and eVTOLs, aiming to become Asia’s first fully integrated aviation mobility platform. The company is building a hospitality-driven luxury service platform, setting the standard for air mobility in Asia and preparing for expansion into Europe and the US.

“The LOI with Plana marks a key milestone toward realising this vision, highlighting how partnerships between manufacturers and operators drive market growth,” comments Min Shin, CEO of Vonaer.