SkyWest To Purchase 100 eVTOL Aircraft From Eve Air Mobility

SkyWest, Inc. SKYW and Eve Air Mobility, an Embraer SA ERJ company, inked a Memorandum of Understanding and non-binding Letter of Intent for SkyWest to purchase 100 of Eve's electric vertical takeoff and landing aircraft (eVTOL). Financial terms not disclosed.
The partnership will develop a network of deployment throughout the U.S.
The parties plan to develop a portfolio of services-based capabilities to optimize eVTOL performance in key early adopter cities prioritized for initial Urban Air Mobility operations.
The companies plan to dedicate a team to focus on vehicle design, vertiport specifications, and the certification roadmap for eVTOL operations.
Additionally, both companies have agreed to form a working group to jointly evaluate the utilization of Eve's next-generation air traffic management and fleet operating solutions.
Price Action: SKYW shares are trading higher by 7.57% at $40.51 and ERJ higher by 16.2% at $16.15 on the last check Tuesday.