LCI, a leading aviation company and a subsidiary of the Libra Group, has signed an agreement to acquire up to 125 of BETA Technologies’ ALIA eVTOL aircraft.
LCI will initially acquire 50 aircraft currently under development at BETA’s facility in Burlington, Vermont, which will complement LCI’s existing fleet of modern helicopters and fixed-wing aircraft, and almost double the number of aircraft on its aviation platform to over 270 units.
Jaspal Jandu, CEO of LCI, says: “We are embracing this new era of sustainable flight and BETA Technologies’ innovative approach makes them a natural and credible partner for LCI.
“We believe that the aircraft’s blend of rechargeable battery power, significant internal capacity, and plentiful range is an optimal one. We are confident it will be a popular choice for operators and end-users seeking to develop and augment their fleets with this truly sustainable technology.”
BETA’s ALIA produces zero emissions with a maximum range of 250 nautical miles and is designed to carry five passengers and a pilot, or a 635 kg payload for applications including cargo, medical and passenger.
Key advantages include the ability to recharge in under an hour, net-zero emissions, and lower maintenance requirements. BETA is also developing charging infrastructure, as well as electric ground vehicles.
Kyle Clark, Founder and CEO of BETA, said: “As a leading aircraft lessor with an established global track record, LCI has a strong pulse on what operators are looking for. We are gratified by their confidence that the solutions we’re building will answer the need for next-generation, zero-emission electric aircraft. We are excited to partner with LCI and push adoption of this solution forward within the industry.”
In addition, LCI and its parent company, the Libra Group, whose subsidiaries own and operate assets in more than 50 countries, plan to share commercial, financial and supply-chain expertise with BETA through well-established industry networks.
George Logothetis, Chairman and CEO of the Libra Group, added: “As a global holding company, Libra Group and its subsidiaries are committed to advancing a clean energy future. Through this agreement, LCI will bring carbon-free transportation to customers around the world.
“Today’s announcement by LCI is the tip of the spear in the innovation pivot of Libra Group and thus our entire organization. We look forward to continuing to partner with innovative and future thinking companies that can benefit from our global platform and to help catalyze the uptake of life-saving, transformative technologies across the world.”
Since its inception in 2004, LCI has undertaken in excess of US$8 billion of transactions in the aviation markets.