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South Korea’s Aerospace9 takes stake in Bye Aerospace, purchases 300 electric aircraft

Bye Aerospace Inc has announced that the company has entered into agreements with Aerospace9, a new company headquartered in Seoul, Korea, under which Aerospace9 has agreed to an investment in Bye Aerospace and has made a purchase deposit agreements for 300 aircraft.

Bye Aerospace is the developer of the eFlyer and Envoy family of all-electric aircraft.

According to a Bye Aerospace press release: “The number of future purchase agreements for the Company’s airplanes is now 711 units, comprised of two-seat eFlyer 2 primary trainers, four-seat eFlyer 4s and the soon-to-be announced twin-motor nine-seat Envoy.  Aerospace9’s purchase deposits include 150 eFlyer 2s, 148 eFlyer 4s and 2 Envoys with an option to acquire an additional 100 aircraft.”

“This investment is not just a purchase contract, it is a very meaningful contract that creates an amazing opportunity for Asia,” said Chairman Seunghyuk Cha of Aerospace 9. “Our company has a very important responsibility in the aviation industry as a new strategic partner of Bye Aerospace.”

Bye Aerospace is in the process of seeking FAA certification for the eFlyer 2 for the professional flight training mission and the eFlyer 4 for air-taxi and advanced training uses, says the company. “All of Bye Aerospace’s current and future families of aircraft feature engineering, research, and electric aircraft solutions designed to answer compelling market needs. Benefits include five-fold lower operating costs, no CO2 emissions, and decreased noise. The eFlyer will eliminate the release of millions of metric tons of CO2 each year for flight training alone.”

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(Image: Chairman and CEO George Bye, Bye Aerospace (Left); Chairman Seunghyuk Cha, Aerospace9 (Right) shake hands after signing agreement)

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