Eve Holding Enters Strategic Collaboration with Alt Air
Eve Holding has entered into a strategic collaboration with Alt Air, a new Advanced Air Mobility company based in Sydney, Australia, which has also partnered with Skyports Infrastructure to prepare for electric Vertical Take-Off and Landing, or eVTOL, operations across both New South Wales and Queensland, Australia. Alongside these partnerships, Alt Air will leverage existing airports and other unique aviation infrastructure assets in Sydney, including operating bases on Sydney Harbour and at Palm Beach. With Skyports, Alt Air will explore new vertiport locations to expand the network of future commercial eVTOL services in Queensland. Together, Eve, Alt Air, and Skyports will co-develop an integrated operational plan spanning critical elements of Australia's emerging eVTOL market. The collaboration will play a role in supporting future commercial eVTOL services across both regions, including a roadmap that builds operations in time for the Brisbane 2032 Summer Games. Eve, Alt Air and Skyports will assess priority routes linking major population centers, commercial districts, and tourism hubs across Sydney, South East Queensland, and surrounding regions.
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- Flight Test Progress: Eve Air Mobility successfully conducted a flight test of its full-scale engineering prototype at Embraer's facility in Gavião Peixoto, Brazil, completing 35 flights and accumulating nearly 1.5 hours of flight time, marking significant progress toward the certification pathway for its electric Vertical Take-Off and Landing (eVTOL) aircraft.
- Performance Enhancements: Preliminary results indicate that Eve's propulsion and battery performance exceed expectations, with noise levels significantly lower than conventional helicopters, demonstrating validated control laws and rotor aerodynamic efficiency during low-speed operations (up to 15 knots, approximately 28 km/h).
- Financial Backing: Since 2022, Brazil's National Development Bank (BNDES) has provided over BRL 1.4 billion in financing to Eve, while Finep has approved grants of up to BRL 90 million to accelerate Eve's digital innovation and sustainable aviation initiatives, showcasing strong institutional support.
- Market Potential: CEO Johann Bordais emphasized that the success of the flight tests lays a solid foundation for future certification flights, and with Embraer's over 50 years of aircraft development expertise, Eve is well-positioned to lead in the global urban air mobility market.
- Flight Test Progress: Eve Air Mobility successfully conducted a flight of its full-scale engineering prototype at Embraer's test facility in Gavião Peixoto, Brazil, completing 35 flights and accumulating nearly 1.5 hours of flight time, marking significant progress toward the certification pathway for its electric Vertical Take-Off and Landing (eVTOL) aircraft.
- Performance Enhancements: Preliminary results indicate that Eve's propulsion and battery performance exceed expectations, with noise levels significantly lower than conventional helicopters, validating control laws and rotor aerodynamic efficiency during low-speed operations (up to 15 knots, approximately 28 km/h), thereby enhancing its competitive edge in the market.
- Regulatory Framework Support: Eve is actively participating in the public consultation process for Brazil's National Urban Air Mobility Policy, aiming to advance the regulatory and institutional framework for urban air mobility, demonstrating its leadership position in the industry and commitment to future market development.
- Funding and Innovation: Since 2022, Eve has secured over BRL 1.4 billion in financing and has been approved for up to BRL 90 million in grants to accelerate digital innovation and sustainable aviation initiatives, further solidifying its leading position in the global urban air mobility market.
- Liquidity Position: As of the end of 2025, Eve Holding reported liquidity of $641 million, comprising $390 million in cash and $150 million in undrawn credit facilities, indicating robust financial management; however, anticipated cash consumption in 2026 is projected to rise to between $225 million and $275 million, which may impact future development.
- R&D Investment: The company invested $59 million in R&D in Q4 2025, totaling $195 million for the full year, reflecting a strong commitment to technological development despite reporting a net loss of $224 million, highlighting the financial strain from high R&D costs.
- Orders and Market Demand: Eve Holding secured a firm order for two aircraft from Japan AirX, with options for an additional 48, showcasing strong market interest; additionally, the company has a substantial backlog of approximately 2,700 aircraft valued at around $13.5 billion, indicating significant future growth potential.
- Challenges and Risks: The company faces significant challenges in finalizing product characteristics and managing the certification process, which could affect delivery timelines, and a slight contraction in its preorder backlog due to changes in customer strategies adds to market uncertainties.
- Liquidity Position: As of the end of 2025, Eve Holding reported liquidity of $641 million, including $390 million in cash and $150 million in undrawn credit facilities, indicating robust financial management that supports future R&D and operational needs.
- R&D Investment: In Q4 2025, Eve invested $59 million in R&D, totaling $195 million for the year, which, despite a net loss, underscores the company's commitment to technological advancement and maintaining competitive edge in the market.
- Order Status: Eve secured a firm order for two aircraft from Japan AirX, with options for an additional 48, highlighting strong market interest, while the company has a substantial preorder backlog of approximately 2,700 aircraft valued at $13.5 billion, indicating significant future growth potential.
- Cash Consumption Outlook: The company anticipates cash consumption between $225 million and $275 million in 2026, primarily driven by R&D and supplier engagement, reflecting ongoing challenges but also a proactive approach to product development and market readiness.
- Widening Financial Loss: Eve Holding reported a net loss of $63.9 million in Q4 2025, compared to $40.7 million in Q4 2024, indicating ongoing challenges in profitability that may affect investor confidence.
- Increased R&D Spending: R&D expenses surged to $59.4 million in Q4 2025 from $33.7 million in Q4 2024, reflecting the company's commitment to innovation and product development, although this may increase short-term financial strain.
- Cash Consumption Trends: Total cash consumption in Q4 2025 was $32.1 million, down from $39.9 million in Q4 2024, suggesting some success in cost control measures that could alleviate financial pressures.
- Sufficient Funding: As of the end of 2025, Eve Holding's cash, cash equivalents, and financial investments totaled $392.5 million, with management asserting that this funding is adequate to support operations and program investments through 2028, bolstering confidence in the company's future growth.
- Increased R&D Spending: Eve's R&D expenses reached $194.7 million in FY 2025, up from $129.8 million in 2024, primarily due to intensified collaboration with Embraer, leading to a net loss of $224.3 million, indicating a strong commitment to technological advancement despite financial challenges.
- Cash Flow Status: The company's cash consumption for 2025 was $175.2 million, with normalized cash consumption around $196.5 million, slightly below the expected range of $200-$250 million, reflecting disciplined cost control efforts amidst ongoing development activities.
- Growing Order Backlog: Eve's backlog has reached 2,700 Letters of Intent, with 100 aircraft under binding agreements, providing long-term revenue visibility and aiding in smoothing cash flow as the company transitions from development to production.
- Flight Testing Progress: The engineering prototype completed 28 flights in 2025, with plans for approximately 300 flights in 2026, showcasing significant advancements in the Urban Air Mobility ecosystem and the company's proactive approach to certification processes despite facing challenges ahead.










