Why Vertical Aerospace Shares Are Jumping Today

Turkey's leading aviation conglomerate and owner of Freebird Airlines, Gözen Holding, committed to purchase or lease up to 50 VX4 eVTOL aircraft from international aircraft leasing company, Avolon.
Gözen also had the option to purchase or lease up to 50 additional aircraft.
In June 2021, Avolon ordered 500 VX4 eVTOL aircraft from Vertical Aerospace Ltd EVTL, valued at $2 billion, Bloomberg notes.
Avolon placed 250 VX4 aircraft with GOL and Grupo Comporte in Brazil, up to 100 aircraft with Japan Airlines in Japan, a minimum of 100 aircraft with AirAsia, and up to 100 aircraft with Gözen Holding since the eVTOL aircraft order.
Avolon completed placing its entire 500 VX4 eVTOL aircraft order book, which was oversubscribed by 50 options.
Avolon also collaborated with Gözen to commercialize zero-emissions eVTOL travel and develop an industry-leading urban air mobility (UAM) platform in Turkey.
Avolon CEO Dómhnal Slattery acknowledged that the partnership would create a pioneer in UAM in Turkey, bringing sustainable air travel to the region.
Price Action: EVTL shares traded higher by 18.9% at $8.24 in the premarket on the last check Tuesday.