Vertical Aerospace (NYSE: EVTL) and VIC Properties have signed a Memorandum of Understanding to explore the introduction of electric air mobility services in Portugal, with an initial focus on the Pinheirinho estate in Comporta.

Under the agreement, VIC Properties will work with Vertical Aerospace and its infrastructure and operating partners to assess Pinheirinho — a 400-hectare estate that includes Six Senses Comporta — as a potential electric air mobility resort destination. The assessment will include site and infrastructure planning.

Vertical Aerospace is developing the Valo, a piloted, four-passenger Electric Vertical Take-Off and Landing (eVTOL) aircraft with zero operating emissions. The company also has a hybrid-electric variant in development.

"The most exceptional destinations deserve an equally exceptional way to arrive," said Stuart Simpson, CEO of Vertical Aerospace. "This partnership is about understanding how a new category of air travel can integrate into the future of resort living and luxury hospitality."

"A partnership with Vertical, a recognised pioneer in this emerging sector, is a natural extension of that ambition, as we truly believe that air mobility will shape the experience, the reach and connectivity of next-generation destinations such as Pinheirinho Comporta," said João Cabaça, Co-founder and CEO of VIC Properties.

The MoU follows Vertical Aerospace's previously announced partnership with Héli Air Monaco to explore future Valo operations across the French Riviera. Additional VIC Properties destinations may be considered as the partnership develops.

Vertical Aerospace holds approximately 1,500 pre-orders for the Valo aircraft from customers across four continents, including American Airlines, Avolon, Bristow, GOL, and Japan Airlines. The company is headquartered in Bristol, UK.

VIC Properties, established in 2018, manages over €3 billion in assets and is based in Portugal.