The airship-cargo project piloted by Flying Whales, backed by roughly 85 million Quebec, is considered by some to be unrealistic, but not indifferent. According to the general manager of the company’s Quebec subsidiary, the skepticism that argued taxpayers no longer need to loosen the purse strings will soon begin to dissipate.
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Installed in Quebec since last May, Arnaud Theolaus anticipates a busy fall. He hopes to formalize the partnerships that will ensure the project’s raison d’être, in addition to “hitting the accelerator” to identify a site in Quebec that will host an assembly plant.
An early taste was offered Tuesday at the AeroMontreal International Aerospace Innovation Forum. Pratt & Whitney is responsible for designing, manufacturing and servicing the turbines for the LCA60T airship’s electric propulsion system.
“Absolutely,” replies Mr. Theolaus, when asked if this is a deal that will increase the reliability of cargo airships. We intend to finalize our agreements with other partners on core systems required for development. »
These partners are Thales Canada (flight control systems) and Delastec (cockpit), two major players in the Quebec aerospace cluster. In a sign that the deals could be finalized soon, the two companies shared the same stage as Mr Theolaus on Tuesday.
To go far
France-based Flying Whales aims to build cargo airships to transport heavy loads – wind turbine blades, hydraulic turbines, mining equipment, etc. –, up to 60 tonnes in inaccessible areas such as the Far North of Quebec. The aircraft will initially be equipped with hybrid propulsion, then fully electric.
After construction of a production site in Quebec, the first commercial flights are scheduled for 2025-2026. This is the second factory for Flying Whales to operate in France.
“Today, we have a good thirty letters of intent signed with potential customers,” said the general manager of Flying Whales Quebec. As soon as the action plan window is specified we will be able to convert them into contracts. »
Photo courtesy of Flying Whales
Arnaud Theolaus, General Manager of Flying Whales Quebec
Users do not become owners of the airship. They pay for the transportation service. Flying whales also perform this part.
After its initial investment in 2019, the Legault government re-injected 55 million into the share capital of the French company and its Quebec subsidiary on June 30. This third round of financing is estimated at 122 million euros. The French State, Principality of Monaco, ALIAD (The Air Liquide Fund) and Groupe ADP are also shareholders.
This fundraising will allow development to continue until the first flight. In the first flight, a public offering is planned to finance the development of operations.
Arnaud Theolaus, General Manager of Flying Whales Quebec
Therefore, through the stock exchange rather than from its existing shareholders, Flying Whales will finance the remainder, according to the owner of its Quebec subsidiary.
Many more steps
One hundred jobs should be created in Quebec within three years. The Flying Whales Quebec team will triple in size over the next year to nearly thirty people.
This is not the first time that the concept of a cargo airship has been put forward to transport goods over long distances, recalls Richard Aboulafia, general manager of Aerodynamic Advisory. The cargo niche has grown in popularity since the pandemic began and fuel prices remain high, analysts said.
If he thinks the game is worth the candle, he brings negativity.
“The problem is that we often talk about a one-way trip for a transit trip, which complicates the equation on the profitability side,” Mr. Aboulafia said.
Investment Canada’s decision to set up a subsidiary in the country delayed the Chinese presence of Flying Whales’ share capital.
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- 2012
- Founding year of Flying Whales
Source: Flying whales
