Eve Air Mobility has announced a US$50 million loan from Citibank, increasing the company’s 2Q24 pro-forma liquidity to $480 million.
“Eve continues to attract new investors, a sign of the continued confidence in our strategic plan, strong customer interest in our eVTOL aircraft, services, operations solutions and our Vector urban air traffic management software solution,” said Eduardo Couto, Chief Financial Officer at Eve Air Mobility. “The bank loan, along with existing cash and credit lines, ensures that Eve remains well-capitalised with a comfortable balance sheet and with one of the highest cash runways in the advanced air mobility (AAM) industry. We are continuing to advance in the development and manufacturing of our eVTOL.”
The loan contributes to the previous announcement in July 2024 of $95.6 million in equity financing from a group of industry companies and financial investors, as well as the $88 million credit line agreement with Brazil’s National Development Bank (BNDES) to fund Eve’s Taubaté facility.
Image: Eve Air Mobility