Eve and Kenya Airways’ Fahari Aviation sign agreement to scale Urban Air Mobility with an order of up to 40 eVTOLs to fly people and cargo

Melbourne, FL, June 21, 2022 – In March 2022, a subsidiary of Eve Holding, Inc. (“Eve”) (NYSE: EVEX; EVEXW) and Kenya Airways’ subsidiary, Fahari Aviation, signed a Letter of Intent (LoI) for up to 40 electric vertical take-off and landing (eVTOL) vehicles. The agreement includes joint studies through a working group to develop and scale the UAM market and a business model for cargo drone operations in Kenya. The project is expected to start deliveries in 2026.

Eve’s eVTOL lift & cruise vehicle is electric-powered and the most practical design for efficiency and certifiability. Its multiple rotors are used to take off and land vertically, and at cruise altitude the rear propellers push the aircraft forward as in a wing-borne flight, providing a low-noise experience and making it easier to move within cities while avoiding traffic jams.

“Urban air mobility is the future of transport and we are honoured to be the champions of this in the region. The journey to realise the dream of eVTOL vehicles in Kenya is on course, and the partnership with Eve is a key achievement for us as part of the strategy to adopt new technologies as a growth strategy for the sustainable development of Africa,” said Allan Kilavuka, Group Managing Director & Chief Executive Officer, Kenya Airways.

“This is a new chapter of the Eve and Fahari Aviation partnership to strengthen both companies’ commitment to establishing the foundations that will sustainably support the ecosystem for urban air mobility in Kenya. Last year, we announced a collaboration to develop operational models for Fahari Aviation’s key markets, and today’s announcement confirms that it is evolving successfully,” said Andre Stein, co-CEO of Eve.

Fahari Aviation has been focusing on innovative and sustainable solutions to address different issues, such as traffic jams, sightseeing, parcel delivery, agriculture and wildlife protection, and Eve’s zero-emission, low-noise and accessible eVTOL, together with its global experience, will benefit the development of air mobility in Kenya.