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Tuesday, July 23, 2024

Finnish Lygg partners with Electra in a billion-euro deal to revolutionize sustainable air travel

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Vantaa-based company Lygg has inked a monumental billion-euro deal with the U.S.-based hybrid aircraft manufacturer, Electra. This collaboration signals a pivotal stride towards transforming air travel into a more eco-friendly and efficient mode of transportation. The partnership paves the way for the introduction of up to 300 hybrid aircraft by 2028. These cutting-edge aircraft, designed by Electra, will be integrated into Lygg’s operational model, promising direct connections and a remarkable reduction in carbon emissions by utilizing renewable Sustainable Aviation Fuel (SAF).

With this landmark agreement, Lygg secures the exclusive right to offer its operators the purchase of 150 Electra hybrid planes initially, with an option for an additional 150, culminating in a colossal €1 billion deal. The plan is to introduce these aircraft through the innovative Hybrid as a Service (HaaS) model, providing operators with financial support and a profitable business structure.

“We are primarily facilitators in this scenario, much like Uber once offered cars to Southeast Asian taxi drivers. The agreement combines Electra’s revolutionary, already in use technology with Lygg’s equally pioneering business model. Having followed Electra for a long time, we are convinced that they will be one of the leaders in this market. We, in turn, can offer a direct path to commercial business for their planes through our corporate customer network and operators,” says Lygg’s CEO Roope Kekäläinen.

A key aspect of this collaboration is Electra’s revolutionary eSTOL technology, enabling these hybrid aircraft to take off or land in a mere 100 meters of paved or gravel surface. This breakthrough design redefines direct connections, allowing for potential use of existing fields or even parking lots as airports, offering flexibility and efficiency in air travel.

“The technology allows us to rewrite the definition of direct connections. Existing fields closer to city centers can be utilized more flexibly – in Lahti* (*Finnish city), for example, no additional pavement would be needed to start flight operations if Electra’s planes were already in use there,” illustrates Kekäläinen. “And the vision for the future is even more fascinating: a parking lot near a local factory could serve as an airport for Electra’s needs. The renewal of European regulations could potentially free up up to a hundred thousand squares across Europe as new airports for the HaaS model (Hybrid as a Service). Large aircraft could not use these takeoff and landing locations, making them practically congestionfree.”

The impact of this partnership on the environment is monumental. By adopting hybrid planes and committing to using sustainable aviation fuel on all flights, Lygg anticipates a significant reduction in carbon emissions, making air travel far more eco-friendly than alternative modes of transportation.

“The agreement with Electra ensures that we are in a global pole position in the sustainable aviation revolution. With hybrid planes, emissions will decrease even further, and their noise pollution is negligible. Direct connections become even more direct thanks to the Hybrid as a Service model, reducing time spent in the air. From 2028 onwards, environmentally conscious business travelers shouldn’t even consider getting into a car, not even carpooling,” emphasizes Kekäläinen.

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Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

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