Monte Inks Deal For Up to 50 Ampaire Hybrid-Electric Aircraft

Monte Aircraft Leasing Limited made a firm order for 25 Eco Caravans, with an option to purchase an additional 25.

Hybrid-electric aviation company Ampaire announced today that the financing company, Monte Aircraft Leasing Limited, is ordering up to 50 Eco Caravans. Monte is a U.K.-based company that says its sole focus is financing sustainable regional aviation technologies so that it can support the aviation industry’s transition to net-zero carbon emissions. 

It provides financing and leasing solutions for zero-emission technology to regional aircraft operators. That also means helping aircraft operators retrofit fleets with solutions such as electric, hybrid, or hydrogen propulsion technologies as they are developed. It says its goal is to become the world’s first carbon-neutral aircraft leasing company by 2027.

In this deal with Ampaire, Monte made a firm order for 25 Eco Caravans, with an option to purchase an additional 25. Ampaire’s Eco Caravan is a hybrid-electric upgrade of the Cessna Grand Caravan.

The aircraft marks the “starting point for a revolution in air travel,” bringing a slew of benefits, Ampaire CEO Kevin Noertker said in a statement.

“It brings the cost per available seat mile down to the range of driving, benefiting operators and their passengers. It dramatically shrinks the aircraft’s carbon footprint.,” Noertker said. “The propulsion technology is scalable, and we intend to quickly move toward larger regional aircraft and even the single-aisle jet market over time.”

According to Ampaire, the Eco Caravan can reduce fuel and emissions by as much as 70 percent on shorter trips and 50 percent on longer ones without sacrificing room for people, cargo, or overall range. Moreover, the company said the aircraft could lower operating costs by 24 and 40 percent of the unmodified Cessna Grand Caravan. Additionally, Ampaire noted that because the Eco Caravan can recharge its batteries in flight, its selection of airports that it can fly into aren’t limited to those with ground charging capabilities.

“Monte is looking to build a fleet of low emission and zero emission aircraft to lease or finance for regional aircraft operators worldwide,” Monte’s investment director, Timothy Eyre, said.

Last year, Monte signed a cooperation agreement with Tecnam Aircraft Limited to provide bespoke financing and leasing solutions to customers of Tecnam’s P-Volt Electric Aircraft. Eyre called Ampaire “the leading hybrid-electric technology provider” and said, “its Eco Caravan will be very attractive for a segment of our operators, thanks to its wide performance envelope and ability to operate without ground charging infrastructure where necessary.”

Ampaire Nearing Certification

Ampaire has stated that the Eco Caravan will make its first flight later this year. The nine-passenger aircraft is currently undergoing ground power tests and has entered the certification process with the FAA, with a supplemental type certification for the upgraded aircraft expected in 2024, according to the company. 

Last week during NBAA-BACE, the company signed an MOU with Tamarack Aerospace Group to develop aerodynamics upgrades for Ampaire’s hybrid electric aircraft fleet. Ampaire will have access to Tamarack’s SMARTWING winglets on all alternative energy variants of the Cessna Caravan 208, de Havilland Twin Otter, and Beechcraft King Air.


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