Eve Holding Inc. (NYSE: EVEX) said it has secured a binding order from AirX, a Japanese air mobility services provider, for as many as 50 electric vertical takeoff and landing (eVTOL) aircraft. The deal includes a firm commitment for two aircraft and options to acquire an additional 48 units, according to Cantor Fitzgerald.
The company’s stock was trading at $3.32 at the time of the report, reflecting a 43.34% decline over the past six months based on InvestingPro data. Cantor Fitzgerald reiterated an Overweight rating on the shares, and InvestingPro shows analyst price targets for the stock ranging from $5.28 to $9.
This order marks Eve’s second binding purchase agreement for its eVTOL aircraft. Eve has communicated a target for initial deliveries to AirX in 2029, a timeline the company is using in its commercial planning.
Eve will host an investor day on February 9 in Melbourne, Florida, where it intends to present its latest aircraft design. Cantor Fitzgerald analyst Andres Sheppard maintained a positive stance on Eve following the announcement of the agreement with the Japanese mobility operator.
Beyond the AirX order, Eve Air Mobility has advanced several program-level items. The company secured a $15 million loan from the Export-Import Bank of the United States and from the Private Export Funding Corporation. Those funds are earmarked to support the eVTOL development program, specifically to acquire batteries and engineering services from BAE Systems.
Eve also reported completion of the first flight of an uncrewed full-scale eVTOL prototype at Embraer’s test facility in Brazil. The inaugural hover flight validated a number of systems, including the fifth-generation fly-by-wire architecture and the fixed-pitch lifter rotors, according to the company’s update.
Corporate and supply-chain moves include the appointment of Uallace Moreira Lima as an independent director and a member of the audit committee, effective February 1, 2026. That appointment was made under an agreement involving BNDESPAR and Embraer Aircraft Holding. Separately, Eve selected BETA Technologies to provide electric pusher motors for its conforming prototypes and production aircraft. Eve described the BETA relationship as a potential 10-year opportunity for BETA worth up to $1 billion.
Eve’s publicly disclosed backlog stands at 2,800 eVTOL aircraft, underscoring the company’s current order book as it continues to firm supply-chain relationships and progress development milestones.
Summary of the transaction and related program activity is as follows: a binding AirX order for up to 50 aircraft (2 firm, 48 options), targeted initial deliveries in 2029, an investor day to reveal the latest design, a $15 million export loan to fund batteries and engineering services from BAE Systems, a successful uncrewed prototype hover flight validating key systems, a new independent director effective in 2026, selection of BETA Technologies for electric pusher motors, and a 2,800-aircraft backlog.