Avolon to sign a leasing memorandum with AirAsia
Avolon announced on February 16th, 2022 that it will sign a memorandum with the airline company AirAsia. This memorandum states that AirAsia has agreed to sell a minimum of 100 VX4 eVTOL aircraft from Avolon. Another aspect of this deal is to commercialize the fleet of zero emission, low cost per passenger, nearly silent eVTOL aircraft in Asia. After this agreement was signed the company had successfully book 90% of the fleet of eVTOL planes that they ordered back in June of 2021 (a $2 billion order).
COVID|Competition|New Activity|ESG|StructuralIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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