Eve secures Farnborough agreements for up to 46 eVTOL aircraft

Eve Air Mobility has signed two letters of intent covering up to 46 electric vertical take-off and landing aircraft, adding prospective operator Moov and aviation-finance company Shearwater Global Capital to its commercial pipeline.

The agreements, announced around the opening of the Farnborough International Airshow, include up to 30 aircraft for Moov and as many as 16 for Shearwater.

Both remain letters of intent rather than firm aircraft orders, and Eve has not disclosed delivery dates or financial terms.

The larger agreement will see Eve and Moov explore potential advanced air mobility services in Cabo Verde and Europe, while Shearwater intends to make Eve aircraft available to operators through future leasing and financing arrangements.

Together, the agreements build both sides of Eve’s prospective market: companies interested in deploying its eVTOL and financiers capable of helping operators acquire them.

Moov explores eVTOL services in Cabo Verde

Moov’s letter of intent covers up to 30 aircraft and supports the evaluation of tourism, airport connectivity and regional transport services across Cabo Verde.

The companies will examine sightseeing flights and shuttle services linking airports, ports and resorts, alongside inter-island connections involving São Vicente, Santo Antão, Sal, Praia and Boa Vista.

Medical transport and infrastructure inspection missions have also been identified as possible applications for the aircraft.

Cabo Verde’s dispersed island geography makes it a potentially attractive market for runway-independent aircraft, particularly where journey times are otherwise shaped by ferry schedules or conventional airport infrastructure.

Tourism is also an important component of the country’s economy. Around 1.18 million visitors travelled to Cabo Verde in 2024, representing year-on-year growth of 16.5%, according to World Bank figures cited by Eve.

Moov is a Swiss-incorporated aviation company based in Lugano. It is developing what it describes as an Atlantic Gateway connecting Europe, Africa and Latin America, with the potential Cabo Verde operation forming part of that broader network.

“We believe Cabo Verde is uniquely positioned to benefit from innovative mobility solutions that enhance the visitor experience while supporting long-term connectivity and economic development,” Moov founder and CEO Captain Alvaro N. de Oliveira said.

“By working with Eve, we are exploring how eVTOL aircraft could complement our broader vision for aviation in the mid-Atlantic.”

Shearwater targets eVTOL leasing market

Eve’s separate agreement with Shearwater covers up to 16 aircraft and introduces an aviation-finance component to its commercial strategy.

Shearwater is the aviation-finance arm of Bay Point, an asset-based lender serving customers internationally. The company joined Bay Point in April 2026 and is seeking to expand its portfolio into emerging aviation assets, including advanced air mobility aircraft.

Under the agreement, Shearwater and Bay Point intend to develop leasing options that could give future operators access to Eve aircraft without requiring them to purchase fleets outright.

The companies will also explore wider financing opportunities as Eve moves towards certification and commercial production.

Access to aircraft finance could become an important part of the emerging eVTOL market. Many prospective operators will need to fund not only the aircraft but also charging infrastructure, pilot training, maintenance capability and new operating networks before revenue services can begin.

Eve CEO Johann Bordais said the company believed advanced air mobility would play an important role in future transport and that Shearwater’s leasing plans could help operators deploy aircraft.

Eve builds commercial ecosystem ahead of certification

The twin agreements come as Eve progresses its full-scale engineering prototype towards transition flight testing.

The aircraft completed its first flight at Embraer’s Gavião Peixoto test facility in Brazil in December 2025. It has since conducted dozens of test flights and completed the hover and low-speed phase of its initial flight-test programme.

Eve expects to begin evaluating the transition from vertical to wingborne flight during the third quarter of 2026. Production of six certification-conforming prototypes is also scheduled to begin later this year.

Unlike tiltrotor aircraft, Eve’s design uses eight fixed lift propellers for vertical flight and a separate rear-mounted propeller for forward propulsion. Its fixed wing provides lift during cruise without requiring the propulsion systems to rotate.

Although the Moov and Shearwater commitments remain preliminary, their different business models illustrate how Eve is attempting to develop an ecosystem around the aircraft before certification.

Moov offers prospective routes and operational use cases, while Shearwater could provide the financial structure needed to place aircraft with operators. Turning those intentions into binding orders and viable services will depend on Eve completing its flight-test, certification and production programmes.