Gol [NYSE: GOL] All Set to Introduce Network of 250 eVTOL Aircraft in Brazil

Gol Linhas Aereas Inteligentes S.A. [NYSE: GOL] has revealed that along with Grupo Comporte it has inked a non-binding letter of intent with Avolon for the purchase and/or lease of 250 electric vertical takeoffs and landing (eVTOL) aircraft. The firm is anticipating commencing a flight network in Brazil using eVTOL planes by mid-2025 after aircraft certification and successful delivery of the aircraft.

It has been disclosed that as per the Letter of Intent (LOI) Grupo Comporte which is an entity of Gol’s controlling stakeholder is offering the investment capital necessary for the project. Moreover, it will employ GOL’s aviation expertise to develop the flight network using VA-X4 eVTOL aircraft.

Furthermore, the arrangement with Avolon and Grupo Comporte is also part of GOL’s commercial strategy to invest strategically in the regional air transportation market. The firm is setting targets to start new routes to disadvantaged domestic markets. Previously in June 2020, Gol has bought Brazil’s fifth-largest domestic airline, MAP Transportes Aéreos.

Presently, GOL runs a fleet of 127 Boeing 737 aircraft and pre-pandemic transported over 37 million passengers per year. The firm also intends to transition 75% of its fleet to the more effective 737-MAX aircraft by 2030, which cut carbon emissions by 16%. Hence, the implementation of the Boeing MAX, eVTOL aircraft, and other improvements including the use of biofuels, will form key ingredients in the GOL’s strategy to achieve carbon neutrality by 2050.