11/28/2023 | Press release | Distributed by Public on 11/29/2023 06:02
RIYADH, Saudi Arabia - Nov. 29, 2023 - Eve Air Mobility ("Eve") (NYSE: EVEX; EVEXW) and flynas, the leading low-cost airline in the world and the Middle East, today announced the signature of a Memorandum of Understanding (MoU) to explore the future of electric vertical take-off and landing (eVTOL) aircraft operations in Saudi Arabia. The partners will explore the possibility of starting eVTOL operations in Riyadh and Jeddah in 2026.
"This partnership represents not only a milestone in our shared vision for sustainable air travel but also a commitment to shaping a more efficient, eco-friendly and accessible transportation landscape," said Johann Bordais, CEO of Eve. "We look forward to embarking on this groundbreaking journey with flynas as we join forces to advance the future of air mobility in Saudi Arabia."
Bander Almohanna, CEO and Managing Director of flynas, said: "We are pleased to explore the sustainable solutions with Eve Air Mobility as a pioneering company in this field, in line with flynas' strategy to adopt initiatives with sustainable impact on the environment, society, and economy in parallel with the national goals to neutralize greenhouse gas emissions by 2060".
The agreement will contribute to Saudi Arabia's aviation industry by building and supporting the future local ecosystem for electric flights. The partnership will also contribute to the Vision 2030 sustainability goals and the ambitious targets in the aviation sector.
flynas operates over 1,500 weekly flights to more than 70 domestic and international destinations. This collaborative effort between Eve and flynas and the introduction of eVTOL flights to Saudi Arabia will provide travelers with another option for urban transportation while affirming the companies' commitment to shaping the future of electric aviation and delivering efficient, safe and sustainable transportation to the region.
Follow Eve on X (Twitter), Instagram, Facebook, LinkedIn, and YouTube: @EveAirMobility
About Eve Air Mobility
Eve is dedicated to accelerating the Urban Air Mobility ecosystem. Benefitting from a start-up mindset, backed by Embraer S.A.'s more than 50-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, a comprehensive global services and support network and a unique air traffic management solution. Since May 10, 2022, Eve has been 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 eveairmobility.com.
flynas, the Saudi air carrier and the leading low-cost airline in World and in the Middle East with 60 aircraft, operating more than 1500 weekly flights to 70 domestic and international destinations.
Since its launch in 2007, flynas has transported more than 60 million passengers. Recently in 2023, flynas has been ranked by Skytrax as the world's fourth best low-cost airline and awarded as the best low-cost Airline in the Middle East for the sixth time in a row 2017, 2018, 2019, 2021, 2022, and 2023. Also, flynas has earned in 2023 the Middle East's Leading Low-Cost Airline award from the World Travel Awards for ninth consecutive years (from 2015 till 2023) as well as it was ranked in the 4-star low-cost carrier category, the highest category of the low-cost airline in the world by APEX rating.
Forward-Looking Statements Disclosure
Certain statements contained in this release are forward-looking statements within the meaning of the 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.