Englewood, Colorado-based Bye Aerospace said last week in a news release that it entered an agreement with Seoul, Korea-based Aerospace9 for the Asian company to make not only a significant stock investment in Bye, but to also submit a substantial 300-aircraft order for Bye Aerospace aircraft. Aerospace9′s purchase agreement includes 150 eFlyer 2s, 148 eFlyer 4s and 2 of the soon-to-be announced twin-motor nine-seat aircraft, the Envoy. The order includes an option to purchase an additional 100 aircraft. George Bye, CEO of Bye Aerospace, said US government approval may be required to green-light the investment. Bye said eFlyer development has slowed some due to COVID-19, but that the company still expects eFlyer 2 certification before the end of 2022.
Bye Aerospace Signs Investment Agreement With South Korean Company
Key Takeaways:
- Bye Aerospace secured a significant stock investment and a substantial 300-aircraft order from Seoul-based Aerospace9, with an option for an additional 100 aircraft.
- The order includes 150 eFlyer 2s, 148 eFlyer 4s, and 2 of the new nine-seat Envoy aircraft.
- The investment may require approval from the US government.
- Bye Aerospace anticipates eFlyer 2 certification by the end of 2022, despite development slowdowns caused by COVID-19.
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