Quantum XYZ Increases eFlyer Purchase Deposits, Expands Bye Aerospace Partnership
Quantum Solves Urban Aeromobility Puzzle by Utilizing Bye Aerospace’s All-Electric Aircraft Fleet
DENVER, Col. and LOS ANGELES, Cal.– October 21, 2019 – Bye Aerospace and Quantum XYZ announced that Quantum has increased the amount of purchase deposits for Bye Aerospace’s two-seat and four-seat eFlyer aircraft. The companies also announced an expanded partnership under which Quantum will use Bye Aerospace’s all-electric aircraft to launch the coming urban air mobility revolution.
“The additional purchase deposits are the second in a series toward an expanded agreement for a fleet of hundreds of aircraft,” said Tony Thompson, CEO of Quantum. He added that the partnership includes future purchase deposits to be made by Quantum for an expanded fleet of eFlyer 2s, eFlyer 4s, and a yet-to-be announced Bye Aerospace aircraft.
Thompson hailed the transaction as the next step in Quantum’s push to make local and point-to-point air transportation a reality. “eFlyer aircraft will be a cornerstone of Quantum’s multi-modal aeromobility fleet, a fleet which will include electric and hybrid-electric aircraft, fixed-wing and rotary aircraft, land and sea aircraft,” he said. “This transaction cements Bye Aerospace’s status as the foremost electric aircraft manufacturer, and Quantum’s status as the foremost aeromobility operator, in the nation.”
George E. Bye, CEO of Bye Aerospace, thanked Thompson for his forward-thinking vision. “Amidst the flurry of interest in improving urban aviation, Quantum is pursuing a practical, near-term, achievable path,” he said. “Bye Aerospace is pleased to expand this important partnership with Quantum.”
“Electric aircraft, Bye aircraft, will create the whole new industry of urban aviation, and will fundamentally reshape the economics of regional aviation,” added James Hopkins, a key Quantum advisor and investor, “and at the same time will play a key role in America’s ongoing transition to renewable energy sources.”
About Bye Aerospace, Inc
Bye Aerospace is an American aircraft manufacturer based in Denver, Colorado. The company specializes in the design and manufacture of electric aircraft including aircraft for the flight training role. In recent years, Bye Aerospace has developed the eFlyer family of aircraft, featuring exemplary engineering, research, and electric aircraft solutions to answer compelling market needs. The company was founded by George E. Bye, who is also CEO.
Quantum XYZ is a Los Angeles-based urban air taxi operator. The company is building a fleet of electric and hybrid-electric aircraft to disrupt and fundamentally restructure commercial aviation. The company was founded by Tony Thompson, who is also CEO, and co-founded by Zeeshan Moha, Napp Da, and Scott Akina.