Bye Aerospace developer of the eFlyer and Envoy family of all-electric aircraft, announced that the Company has entered into agreements with Aerospace9, headquartered in Seoul, Korea, under which Aerospace9 has agreed to an investment in Bye Aerospace.

Aerospace9 has also made a large commitment to the Asian market opportunity by signing purchase deposit agreements for 300 Bye Aerospace aircraft. Governmental approval may be required for the Aerospace9 investment.

"We are extremely honored to share with Aerospace9 in this extraordinary announcement," said George E. Bye, CEO of Bye Aerospace, Inc. "Bye Aerospace is on a rigorous path to achieve FAA certification on our eFlyer 2 airplane, and once that approval is obtained, to begin production on our expanding backlog of orders."

The number of future purchase agreements for the Company's airplanes is now 711 units, comprised of two-seat eFlyer 2 primary trainers, four-seat eFlyer 4s and the soon-to-be announced twin-motor nine-seat Envoy. Aerospace9's purchase deposits include 150 eFlyer 2s, 148 eFlyer 4s and 2 Envoys with an option to acquire an additional 100 aircraft.

"This investment is not just a purchase contract, it is a very meaningful contract that creates an amazing opportunity for Asia," said Chairman Seunghyuk Cha of Aerospace 9. "Our company has a very important responsibility in the aviation industry as a new strategic partner of Bye Aerospace."

Bye Aerospace is in the process of seeking FAA certification for the eFlyer 2 for the professional flight training mission and the eFlyer 4 for air-taxi and advanced training uses. All of Bye Aerospace's current and future families of aircraft feature engineering, research, and electric aircraft solutions designed to answer compelling market needs.

Benefits include five-fold lower operating costs, no CO2 emissions, and decreased noise. The eFlyer will eliminate the release of millions of metric tons of CO2 each year for flight training alone.

Related Links
Bye Aerospace
Aerospace News at SpaceMart.com

Tweet

Thanks for being here; We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor $5 Billed Once credit card or paypal		SpaceDaily Monthly Supporter $5 Billed Monthly paypal only

Airbus flies into red in third quarter
Paris (AFP) Oct 29, 2020
European aircraft maker Airbus said Thursday that one-off charges related to the deep job cuts announced earlier this year pushed it deep into the red in the third quarter. Airbus said in a statement that it booked a net loss of 767 million euros ($900 million) in the period from July to September, compared with profit of 989 million euros a year earlier. Operating or underlying profit fell by 49 percent to 820 million euros and revenues declined by 27 percent to 11.2 billion euros, the stateme ... read more