Aircraft asset manager Aviation Capital Group has entered an agreement with Volocopter, an urban air mobility company, to develop financing services that will assist with the sale of electric vertical take-off and landing aircraft. ACG will finance Volocopter aircraft for up to $1 billion.
Deliveries are expected to commence once the aircraft has been certified for commercial use by the European Union Aviation Safety Agency and the Federal Aviation Administration. This agreement will offer customers an opportunity to lease the aircraft through financing schemes customary within the aviation industry, and ACG’s experience in the industry will provide flexibility and security in customer transactions.
“This transaction highlights ACG’s ongoing commitment to reducing the environmental impact of the aviation industry and to working towards a cleaner and more sustainable future,” said Tom Baker, CEO and president of ACG. “The transaction builds on the existing partnership between Volocopter and ACG’s parent company, Tokyo Century, an early equity investor in Volocopter.”
“This agreement will allow our business to hit the ground running after aircraft certification,” said Florian Reuter, CEO of Volocopter. “It signifies ACG’s and our investor Tokyo Century’s trust in Volocopter’s leadership in the UAM market. We are grateful for this partnership as this financing represents another cornerstone of the essential ecosystem for scaling UAM.”