Startup Eve is expected to surpass Embraer’s market value

About to be listed on the New York Stock Exchange, eVTOL aircraft company could reach a equity value of nearly $3 billion

In its quarterly financial statement, Embraer presented still modest figures of recovery after the traumatic separation from Boeing and the impact of the Covid-19 pandemic.

Despite this, the Brazilian planemaker’s shares rose on financial analysts’ expectations regarding Eve, the Urban Air Mobility subsidiary, which is expected to put its eVTOLs into service after 2025.

The startup should have its shares traded on the New York Stock Exchange in May in a merger with the US company Zanite.

The optimism with Eve is such that it is already estimated that the new company will have an equity value greater than that of Embraer itself, which was valued at about $2 billion this week.

Eve could reach a market value of $2.9 billion, according to analysts. The new shareholding will include an injection of $230 million from Zanite and $305 million from Embraer and a pool of companies that includes Azorra Aviation, BAE Systems, Rolls-Royce, Republic Airways and Skywest.

The first Eve eVTOL will start operations by 2025 (Embraer)

More than 1,800 aircraft

On Friday, Embraer revealed that the companies Thales, Acciona, Space Florida and the subsidiary Embraer Aircraft Holding will add another $52.3 million, bringing the total invested to $357.3 million.

After the merger is consolidated, the new company will be called Eve Holding and is expected to raise an additional $500 million in the stock market.

With an order backlog that already accumulated 1,825 Eve-100 aircraft from 19 customers, the company could reach $4.5 billion in revenue by 2030.

The Zanite shareholders’ meeting that will put the deal to a vote will take place on May 6, with the process expected to conclude three days later.

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