UrbanLink is in the process of obtaining FAA Part 135 certification, which is essential for airlines operating aircraft with fewer than 30 seats. Initially, we will certify our operations using the Embraer E-140, a 29-seat aircraft leased from a major regional lessor under highly favorable terms. This lessor will also provide comprehensive maintenance, spares, and component support.

Our certification process is scheduled to launch in September 2024 and is anticipated to take approximately 12 months to complete. This milestone will enable us to achieve full FAA certification, paving the way for the launch of scheduled charter operations from Opa Locka Airport in Miami to New York.

During this phase, we will rigorously test and integrate our advanced automation systems and leverage our new artificial intelligence capabilities. Additionally, we will refine our reservation systems in preparation for the forthcoming delivery of our first Lilium Jet, expected approximately 6 months after securing our Part 135 certificate.

Our initial operations with the EMB-140 will cater to clientele who are also prime candidates for our future Lilium Jet e-VTOL services, providing us with significant market exposure and laying the groundwork for regional air mobility services. Moreover, the EMB-140 will facilitate efficient transport of equipment, crew, and supplies between our key markets in Miami, Los Angeles, and San Juan.

This strategic approach not only ensures compliance and operational readiness but also positions UrbanLink at the forefront of innovative air mobility solutions in key regional markets.