Volocopter, a German air taxi operator, had announced plans to commercially operate five one-pilot, one-passenger electric Vertical Take-off and Landing (eVTOL) aircraft at next month’s Paris Olympics. It is now waiting for temporary approval to perform a few demonstration flights.

The mood amongst eVTOL manufacturers has shifted dramatically in the last few years. At last week’s Revolution Aero London conference just 35% of delegates expected to see profitable commercial passenger services in the next four years, with 43% expecting it to take between five and 10 years. Some 22% believed it could never happen.

This was an audience of people who had come together at a conference focused on the future of aviation and are pretty good at forecasting. In 2018, at the first Revolution Aero event, 61% went against Uber and said that commercial operations would not take place until between 2025 and 2030.

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The region, in particular the United Arab Emirates (UAE), is a favourable climate for the market with government supporting a transition to a more sustainable future, according to ArcosJet. The firm made the announce during this week’s Corporate Jet Investor Dubai 2024. ArcosJet is the exclusive deal to handle private sales in the UAE, Israel and Cyprus of German firm Lilium’s eVTOL aircraft which is currently under development.

Mikhail Alenkin (pictured centre), ArcosJet CEO and founder, said the UAE today is the world’s main hub for innovation, finance, transportation and finding solutions to environmental issues. The current economic conditions, the concentration of HNWIs, the high level of urbanisation and, of course, the interest in advanced sustainable technologies are the key drivers for the eVTOL market development in the region, he said.

“ArcosJet sees eVTOLs in general, and the Lilium Jet in particular, as a very effective tool for creating a modern, high-tech and sustainable system of advanced air mobility and last mile transportation in the region. Today, the Lilium Jet is one of the most remarkable and significantly developed programs when it comes to eVTOLs. The technical solutions, scope of work and goals are very impressive and convincing.” added Alenkin.

ArcosJet anticipates that eVTOLs will initially emerge in the UAE as a supplement for existing helicopter services, which are currently considered underdeveloped. The firm is also investing in developing an ecosystem for the operation and maintenance of helicopters and eVTOLs in the UAE.

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The agreement includes a commitment fee payment to Lilium as ArcosJet becomes the German OEM’s first reseller in the Middle East and its fifth dealer globally. The two firms will announce further details of the partnership at this year’s Dubai Airshow, which is taking place next month.

Mikhail Alenkin, ArcosJet founder and CEO said: “At ArcosJet, we appreciate Lilium’s mission as we see tremendous potential in the emerging eVTOL market — especially for jet-powered aircraft, and we are grateful that Lilium is partnering with us. We are sure that combining our experience in selling conventional aircraft with the economic and sociodemographic characteristics of UAE, Israel, and the Republic of Cyprus can result in the region becoming a leader in the sales and operation of the revolutionary Lilium Jet.”

Lilium’s Pioneer Edition is the first planned model of the Lilium Jet and, if and when certified, will  carry four passengers an estimated non-stop flight range of 175km at speeds of 250kph. The first manned flight for the type-conforming aircraft is scheduled for late 2024, with type certification expected in late 2025.

Sebastien Borel, chief commercial officer at Lilium said: “The Middle East offers tremendous opportunity for eVTOLs and we are proud to add a reliable and experienced partner to sell and operate the Lilium Jet in the region. ArcosJet has an impressive portfolio of successful deals, profound knowledge within aircraft fleet management and a huge network of industry connections to help drive firm orders of our eVTOL jet. A new era of sustainable aviation is coming and we are proud to be blazing the trail here alongside our new partners who support our aspirations toward new technologies and markets.”

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The new four-bay hangar, covering 175,000sq ft (16.25sq m), will double the temperature-controlled storage space at the airport. Contractors are expected to begin the build in June 2022 after planning was granted by Hampshire council in January. “This investment reveals the long-term commitment of airport owners Macquarie Funds to Farnborough,” said Simon Geere, CEO of Farnborough Airport.

Farnborough also revealed a partnership with Vertical Aerospace to explore launching eVTOL services from the airport. An airport spokesperson told Corporate Jet Investor: “We have entered into an agreement with Vertical Aerospace to work jointly together to better understand the requirements of eVTOL infrastructure at an airport such as Farnborough. The opportunities for eVTOL operations are part of the work that is being undertaken.” Both parties are understood to be working towards making eVTOL services operational on site by 2030.

Geere told Corporate Jet Investor: “While it may be hard to see electrification being the solution to long haul and larger aircraft, it is a possible solution to smaller aircraft and short-haul flights, which is what we have.” Short-haul flights within the UK and Europe make up 90% of operations from the airport, with long haul accounting for the remainder.

Although acknowledging the need for significant eVTOL development, Geere looked forward to the prospect of quicker connections from the airport to the City of London. “We want to build upon our pioneering legacy, we want to be seen as innovators,” he said. “So, working with Vertical is exciting for us. It’s early days and we don’t know where it is going to take us, but it is a space we definitely need to be in.”

Geere also highlighted Farnborough’s green credentials. In 2018, Farnborough became the first airport to achieve carbon neutrality. Since airport continues to work towards greater carbon offsetting through various schemes and projects such as Corsia (Carbon Offsetting and Reductions Scheme for International Aviation).  “We all have a role to play with sustainability and carbon emissions,” said Geere. “We are all aware that aviation is the highest carbon emitting form of transport, so raising awareness and framing what we need to do. The challenge is: How do we move forward for a sustainable future? Here at Farnborough, sustainability is in our DNA and always will be.”

Farnborough Airport, acquired by Macquarie in 2019, is the base for 56 aircraft. It is also home to one of NetJets’ largest operations in Europe. The airport’s clients include: managed operators accounting for 45% of business and corporate/private owners and fractional operators both accounting for 20%. Charter operators account for 15% of business.

Private Airport – Farnborough Airport UK

Vertical Aerospace – Pioneering electric aviation – Vertical Aerospace (vertical-aerospace.com)

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To learn more about the sessions, find our agenda here. Or you can watch the event live streamed on YouTube just below.

If you would like full, free access to our event platform, other attendees and networking opportunities, please head over to this link to register. Should you encounter any issues with registration, please email rianne@corporatejetinvestor.com

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“You cannot copy and paste what is being done today in business aviation. It is the ability that we have developed to unbundle all the operations – training, dispatch, airworthiness and maintenance – in different departments. This is how we can support building the full journey for the eVTOLs entering the new market,” said Lapierre.

Luxaviation’s experience with its “FBO network was a very strong point to support a full new ecosystem” in collaboration with German eVTOL manufacturer Lilium.

However, it will leverage its entire portfolio – including the helicopter networks and other luxury products – to the deployment of the eVTOL network.

He said that Luxaviation’s experience with its on-demand helicopter network would prepare it for eVTOL operations. “Helicopters are the VTOLs of today, so we always make the link between these and eVTOLs. We have gathered significant expertise flying these, as well as the clientele that today fly on these platforms.”

Lapierre added: “We want to be better and stronger in the core activities and get them ready for the new adjacent segment.”

In the lead up to Lilium’s commercial launch in 2024, Luxaviation will help with certificating its seven-seater Lilium Jet as well as arrange for operation processes. These will include training the pilots, flight planning and digital interface, according to Lapierre.

Electric aviation is part of a larger sustainability strategy for Luxaviation, said Lapierre. “We see a lot of adjacencies between business aviation and advanced air mobility models.”

SPACs and private placement

Lapierre said the company was very agnostic with regards to funding options to help growing its presence worldwide. “We are considering whether it [SPACs] makes sense for our plans or whether we can consider private placement for the next steps for the company.”

In Lapierre’s opinion, the strength of the team to see the broader applications of their project, as well as the capability to raise funding will determine the success of eVTOL manufacturers.

“There are a lot of projects out there which are interesting. It’s an amazing time to see so many new ideas, innovative projects and designs.” 

Luxaviation is monitoring a group of 20 top manufacturers. “Entrepreneurship is very strong in the history and DNA of the company.”

Remo Gerber, chief operating officer at Lilium, said: “This marks a key milestone as we prepare for launch, and we look forward to working together to provide an exceptional airline service for our passengers.”

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To do this, the two will combine Luxaviation’s experience, gained after securing the first European Union Aviation Safety Agency AOC approval for a business jet operator, with Lilium’s progress in the development of a seven-seater eVTOL jet.

Lilium plans to continue developing the jet and its digital airline platform for commercial launch in 2024.

“This marks a key milestone as we prepare for launch, and we look forward to working together to provide an exceptional airline service for our passengers,” explains Remo Gerber, chief operating officer at Lilium.

Patrick Hansen, Group CEO at Luxaviation Group said: “Electric vertical take-off and landing aircraft will fundamentally change the way we travel and the Lilium network is poised to be at the forefront of this sea change in aviation”.

Lilium has previously announced plans for launch networks in Germany through partnerships with Munich, Nuremberg, Dusseldorf, and Cologne/Bonn airports.

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While the company did not specify the impacts on its business aviation sector, its financial results for 2020 show that the impact has not been as strong as the civil aerospace and regional fleet. The spokesperson said that business aviation long-term service agreement (LTSA) engine flying hours were resilient.

“In a severe but plausible downside scenario, we still assume business aviation flying hours to be 1% above 2019 level in 2021 and increase to 8% above 2019 level in 2022.”

Using figures based on yearly averages, Rolls-Royce said flying hours of widebody aircraft are assumed to be 55% of 2019 level in 2021 recovering to 80% of 2019 level in 2022.

“Overall, we saw steady recovery in 2020 from the April low point through to December, before pausing due to renewed travel restrictions. As for the commercial market, we expect business aviation flying hours to increase further in the second half of this year,” said the spokesperson.

£4bn loss in 2020

The forecast follows recent news of the £4bn ($5.5bn) loss made in 2020 due to effects of the pandemic on the aviation industry. CEO Warren East said the company expects to burn through a further £2bn this year but hopes that revenue will return to 2019 levels by 2022. It is targeting £750m in free cash flow in the same time frame.

“The worst is behind us as far as Covid is concerned,” he said. “There is cause to be optimistic about a V-shaped recovery.”

The loss in 2020 compares with £583m in profits from the year before. Losses before tax for 2020 were £2.9bn, including £1.4bn in write-offs and nearly £500m in redundancy costs.

Rolls tried to generate cash by cutting 7,000 jobs out of 19,000 across its global civil aerospace division.

Net zero

In an effort to move towards a net zero future, Rolls also announced its first commercial deal in the urban air mobility market (UAM), to develop electric motors for the eVTOL company Vertical Aerospace.

Vertical’s eVTOL VA-X4 will be capable of carrying four passengers over 120 miles at speeds of about 200mph.

“Rolls-Royce will design the system architecture of the whole electrical propulsion system, the electric power system that includes our latest 100kW-class lift and push electrical propulsion units, the power distribution and the monitoring system that will support operations,” said Rolls-Royce.

Rolls anticipates Vertical Aerospace will certify its prototype in 2024 and has 150 engineers across the globe supporting the programme.

The company also announced a partnership with manufacturer Tecnam to develop an all-electric passenger aircraft for Scandinavian regional airline Widerøe.

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Volocopter is the only electric vertical take-off and landing (eVTOL) company to receive Design Organisation Approval (DOA) by the European Union Aviation Safety Agency (EASA). It expects to open the first commercial air taxi routes within the next two years.

Florian Reuter, CEO of Volocopter, said: “No other electric air taxi company has publicly performed as many flights in cities around the world, with full regulatory approval, as Volocopter has.”

Volocopter has developed aircraft (VoloCity and VoloDrone) as well as landing and digital infrastructure (VoloPort and VoloIQ).

The company’s chief financial officer, Rene Griemens, said: “Our shareholder structure remains well balanced with a healthy mix of strategic and financial partners spread as globally as our business ambitions.”

New investors include funds managed by BlackRock, global infrastructure company Atlantia S.p.A., Avala Capital, mobility technology giant Continental AG, global technology focused investment fund Jericho Capital, global technology and business solutions provider NTT via its venture capital arm, Tokyo Century, a leading Japanese leasing company, leading family offices, and others.

All existing investors, including Geely, Daimler, DB Schenker, Intel Capital, btov Partners, Team Europe, and Klocke Holding amongst others, also joined the round.

The company has committed to establishing air taxi services in Singapore and Paris with plans to expand more routes in the US, Asia, and Europe.

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It wasn’t a revolution in the traditional or political sense of the word – more of a societal and technological revolution. But there was fervour and electrifying energy all the same. More than 200 delegates — spanning tech startups, veteran aviation companies and investors — put their heads together to discuss the future of urban air mobility.

Paul Touw, co-founder of Stellar Labs Inc, XOJET and the first to take the stage, summed up the state of the industry quite succinctly, when he said we are embarking on the fourth technological revolution. He drew attention specifically to the rise of electric propulsion, which will fuel the future.

Many others over the course of two days of discussions echoed this shift. Moreover, they reiterated the need for electrification of flight. The argument for the rise of electric vertical take-off and landing (eVTOL) travel is multipronged, including the benefits of speed, efficiency and environmental-friendliness. But the costs of such intra-city travel will run up quite a bill — something to the tune of “$28.7 billion to research, develop and implement,” according to Touw.

And cost is only the tip of the iceberg that stands in the way of the revolution. We may well be able to fly around it, but if the 150-plus companies worldwide which are developing concepts for eVTOLs have their way, this kind of travel will be autonomous. And will require the appropriate infrastructure too, for the aircraft to land and take-off. A number of companies suggest the utilisation of existing helipads, open spaces and even water bodies. However, these come with their own set of regulatory challenges.

There is one step before infrastructure and regulation are considered. Global Blockchain Business Council’s Sandra Ro outlined the significance of blockchain, which are blocks of data that can be linked using cryptography. If there’s one thing to remember about data, it’s that it is the bedrock of any future endeavours for the aviation industry.

Ro argued for more openness, in the form of public blockchains. Gogo’s Lisa Peterson said, “Of the 40,000 flights that take-off and land in the USA daily, we receive nearly 15 petabytes of data.” A petabyte is equivalent to 13.3 years of HD+ TV video. And Per Marthinsson, of Avinode, called “to have more of a collaborative environment. And that means, I win, you win.”

The ‘Pitch’ segment of the conference saw six startups present their ideas to the room, for seven minutes each, in the hopes of winning the competition and attention of the investors present. There were eVTOL concepts, autonomous software and even a grand prix for flying Formula One cars.

Professor Mark McCaughrean, senior advisor for science & exploration at the European Space Agency, compelled the room to think about the future of intergalactic travel. He conveyed the distances involved in visiting the Moon, Mars — six to nine months — and the centre of our galaxy. His message was quite loud and clear: “If Earth is Planet A, there is no Planet B.”

One of the biggest takeaways was the irreversible impact that the rate of carbon emission from aviation has on the planet. Michael Liebreich, chief executive officer, Liebreich Associates, discussed the importance of electric vehicles and said we do not have the charging infrastructure to meet the current demand.

“Shenzhen has around 16,000 electric buses right now. They’re not doing it for fun, they’re not doing it for ‘greenwashing,’ and they’re not doing it to attract you like tourists. It’s cheaper! And they have an air quality problem.”

Essentially, it looks as if we are going to be waiting some years before we fly around in autonomous eVTOL taxis. Tech companies want to keep innovating. Investors want to put their money where their mouths are. But most of all — as it has in the past — the general opinion is that collaboration and co-creation will yield the best results for the industry at large.

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