Eve Air
Mobility and Saudia Technic Sign MOA to Explore MRO Activities and eVTOL
Reassembly in Saudi Arabia.
21
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).
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About Eve Air
Mobility
Eve is dedicated to
accelerating the Advanced 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 AAM ecosystem, with an advanced eVTOL project,
comprehensive global services and support network and a unique air traffic
management solution. Since May 10, 2022, Eve is 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 www.eveairmobility.com.
About Saudia Technic
Saudia Technic,
headquartered at King Abdulaziz International Airport in Jeddah, is the premier
MRO service provider in the Middle East. The company is renowned for its
comprehensive aircraft maintenance solutions and is dedicated to upholding the
highest safety and quality standards in the aviation industry.
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Condition and Results of Operations and Part II, Item 1A. Risk Factors of the
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