EHang Holdings Ltd (EH)

[NMBR1]

Air Operator Certificates In Process

https://www.ainonline.com/aviation-news/futureflight/2024-08-22/increased-evtol-aircraft-deliveries-boost-ehangs-bottom-line

FINANCE, TAXES, INSURANCE Increased eVTOL Aircraft Deliveries Boost EHang's Bottom Line 49 of its two-seat autonomous aircraft were delivered in the second quarter of 2024 EHang recently delivered the first of 10 EH216-S eVTOL aircraft ordered by Xishan Tourism in China.
By Charles Alcock • Managing Editor

EHang has achieved its highest number of deliveries to date with its two-seat EH216-S autonomous eVTOL aircraft. Reporting financial results for the second quarter, the Chinese company said it delivered 49 vehicles in the three months to June 30, which was almost twice the 26 it recorded in the first quarter of this year.

Deliveries of the aircraft that achieved type certification with the Civil Aviation Administration of China (CAAC) in October 2023 were a big boost to EHang’s revenues. These reached RMB 102 million ($14 million) in the second quarter, which was a 65.3% increase over the first three months of this year.

The ramp-up in cash flow, which was positive for the third successive quarter, helped the company to reduce its net loss by 5.4% to RMB 71.6 million, albeit with its operating loss increasing by 2.8% to RMB 77.4 million. As of June 30, its cash reserves stood at RMB 988.2 million. The company reported that it raised a further RMB 554.1 million through an equity offering, which has now closed.

Air Operator Certificates In Process

During the second quarter, EHang received its production certificate from the CAAC, allowing it to increase manufacturing rates. In July, the CAAC accepted the application for an air operator certificate (AOC) submitted jointly by EHang General Aviation and its partner Hefei Heyi Aviation.

The company reported that it expects to secure the approval it needs to expand pilotless commercial flights later this year, and said that other customers and partners are now preparing AOC applications. Under special permits, EHang has been able to conduct public demonstration flights, including some with passengers on board.

In recent months, the Guangzhou-based manufacturer logged new EH216-S orders from Chinese customers including Xishan Tourism and the government of Wencheng County in Zhejiang province. It has also reported various conditional purchase plan agreements for the aircraft, with the latest of these being with KC Smart Mobility for tourism services in Hong Kong, Macau, and Hubei province.

“We are committed to launching commercial operations of the EH216-S in the near future, which will usher in a new phase of growth focused on intra-city mobility,” said EHang’s founder, chairman, and CEO Huazhi Hu. “At the same time, we will meet diversified urban air mobility demand through ongoing research, development, and testing of advanced technologies, upgraded components, and new models, such as our lift-and-cruise [VT-30] eVTOL designed for inter-city mobility.”