Eve Air Mobility and Saudia Technic Sign MOA to Explore MRO Activities and eVTOL Reassembly in Saudi Arabia

RIYADH, Saudi Arabia – May 21, 2024 – Eve Air Mobility ("Eve") (NYSE: EVEX; EVEXW) and Saudia Technic, the leading MRO service provider in the Middle East, have announced today during the third edition of the Future Aviation Forum in Riyadh, Saudi Arabia, the signature of a Memorandum of Agreement (MoA) to explore the potential demand of Maintenance, Repair and Overhaul (MRO) activities for electric vertical take-off and landing (eVTOL) aircraft in the region. The agreement includes eVTOL MRO training and the evaluation of the infrastructure requirements and processes for the potential reassembly of Eve’s eVTOL in Saudi Arabia.   

“We are delighted about the collaboration with Saudia Technic, which will support the introduction and scalability of eVTOL operations in the Middle East,” said Johann Bordais, CEO of Eve. This MoA allows us to examine not only MRO activities, which are essential to ensure safety, reliability, and profitability, but also address the logistical challenges we have to deliver our eVTOL to our customers in the region.”

Fahd Cynndy, CEO of Saudia Technic, expressed that the collaboration with Eve Air Mobility marks a significant milestone in their quest for innovation. “This MoA is in perfect harmony with Saudi Vision 2030, as it aims to establish Saudia Technic and Eve as leaders in the air mobility sector in Saudi Arabia and the broader Middle East. By adopting cutting-edge technologies and seamlessly incorporating them into their operations, they are defining a new benchmark for aviation excellence in the region,” he emphasised.   

During the signing ceremony at the event, Ramy Nasralla, Saudia Technic's Head of Commercial, stressed the strategic fit of their agreement with Eve Air Mobility and Saudia Technic's vision and national aviation strategy. He highlighted the transformative impact of their MRO++ approach, which modernises maintenance practices with a comprehensive solution covering all aspects of aircraft maintenance. Through initiatives like ST Nova™, Saudia Technic boosts its service capabilities and paves the way for future innovations. Nasralla emphasised the double '+' in MRO++, symbolising their commitment to global integration and Saudia Technic's regional and global expansion aspirations, positioning itself as a major player in the international MRO arena.

Last year, Eve announced the location of its first eVTOL production facility in Taubaté, Brazil. Currently, the company is assembling its first full-scale eVTOL prototype, which will be followed by a comprehensive test campaign. With letters of intent for nearly 3,000 eVTOLs, Eve is poised to significantly impact the advanced air mobility industry globally. 

In addition to the eVTOL development, Eve has also been developing several solutions to support its customers from Day 1, from services and support to network optimisation with Vector, Eve’s Urban Air Traffic Management (Urban ATM) software designed to safely address the unique air traffic and network management challenges of current and future Advanced Air Mobility (AAM) operations, focusing on fleet and vertiport operators, and future service providers for AAM, including Air Navigation Service Providers (ANSPs).