Eve Air Mobility, the Embraer-backed eVTOL developer, has inked a Letter of Intent (LOI) with Shearwater Global Capital, the aviation finance arm of Bay Point, covering up to 16 electric vertical takeoff and landing aircraft. The agreement signals growing institutional interest in advanced air mobility (AAM) as an investable asset class and underscores the leasing model's potential to accelerate fleet deployment for operators worldwide.
Strategic Expansion into AAM Leasing
Shearwater, which joined Bay Point in April 2026, has been actively broadening its business aviation portfolio. By tapping into Eve's substantial order backlog, the financier aims to offer tailored leasing solutions that lower barriers for air mobility operators seeking access to next-generation aircraft. Chris Miller, managing director of aviation at Shearwater, noted: "We believe advanced air mobility will become a global market and Shearwater intends to play a leading role in supporting that growth through innovative leasing solutions."
This LOI adds to Eve's growing pipeline of commitments, which already includes orders and options from a range of airlines, lessors, and infrastructure partners. The company's eVTOL design, leveraging Embraer's decades of aerospace engineering, targets efficient, sustainable urban and regional transport with a focus on low noise and operational flexibility.
Johann Bordais, CEO of Eve Air Mobility, commented: "We believe advanced air mobility will play an important role in shaping the future of transportation and we look forward to supporting Shearwater as it offers leasing solutions to the market."
The deal comes amid a broader push by the travel industry to decarbonize short-haul and intra-city travel. While eVTOL operations are not yet commercialized at scale, the partnership between a manufacturer and a specialist aviation finance firm suggests confidence in the timeline for certification and entry into service. Eve continues to work with regulators, including the FAA and EASA, to achieve type certification for its aircraft.
For travel professionals—particularly those in aviation, hospitality, and destination management—the development of AAM leasing models could eventually reshape last-mile connectivity and premium airport transfers. As Dubai's RTA has demonstrated with its soft mobility plan, cities are already preparing infrastructure for electric air taxis. The availability of leased eVTOLs could accelerate operator entry into markets such as the Middle East, Southeast Asia, and Europe.
Shearwater's move also reflects a broader trend of aviation finance diversifying beyond traditional fixed-wing and helicopter assets. With the global AAM market projected to grow significantly over the next decade, early movers in leasing stand to capture a share of what could become a multi-billion-dollar segment.
Eve's backlog now includes letters of intent and purchase options from multiple customers, positioning the company as one of the leading eVTOL OEMs by order volume. The company is also developing a comprehensive ecosystem, including urban air traffic management software and service networks, to support operators from day one.
As the industry watches for certification milestones and commercial launch dates, this LOI reinforces the message that capital markets are ready to back sustainable aviation technologies. For travel industry stakeholders, the message is clear: advanced air mobility is moving from concept to commercial reality, and leasing will be a key enabler.
