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June 21, 2024

Eviation Announces Order from Solyu for 25 Alice All-Electric Commuter Aircraft

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Eviation Aircraft announced Solyu, a leasing company based in Seoul, South Korea, signed a Letter of Intent for 25 commuter Alice aircraft with options for 25 more. Solyu is focused on supporting sustainable aviation by providing financing and leasing solutions for the Alice to a global customer base of operators.

This is another important win for Eviation.  The OEM achieved a milestone as its order book surpassed $5 billion.  That is a serious number.

For Solyu, the focus is on enabling operators to open new markets. Here the Alice’s flexible layout and low operating costs play a key role.  

For Eviation, adding a lessor means having a partner that helps with market liquidity.  Lessors are key players in enabling an OEM to meet demand, regardless of the business cycle.

Overall, the credentials of both firms are boosted with the news. The Alice’s size remains a concern for us.  It feels small for a regional aircraft – but the regional market may be changing in unclear ways.  Aircraft economics have always been about scale; nine seats is not that.  Eviation demurs. We have seen other firms grow their initial 19-seaters to 30-seaters.

Yet Cape Air built a great business using smaller aircraft.  The airline was an early adopter of the Alice. Eviation is successfully building its order book and has persuaded operators of the aircraft’s capabilities.  It will be very interesting to see how this market plays out.

 

author avatar
Addison Schonland
Co-Founder AirInsight. My previous life includes stints at Shell South Africa, CIC Research, and PA Consulting. Got bitten by the aviation bug and ended up an Avgeek. Then the data bug got me, making me a curious Avgeek seeking data-driven logic. Also, I appreciate conversations with smart people from whom I learn so much. Summary: I am very fortunate to work with and converse with great people.

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