Beta Technologies (BETA) signed a term sheet in which Loganair will purchase five ALIA conventional takeoff and landing electric aircraft, with options for five additional aircraft, the companies said Monday.

The aircraft are expected to enter service in 2029, positioning Loganair to become the first commercial airline in Europe to operate an electric aircraft fleet, according to a statement.

The agreement follows Beta's March flight demonstration, during which its CTOL aircraft flew 23 routes across Scotland, covering more than 1,000 nautical miles and testing operations, charging and airport integration, the companies said.

Beta Technologies shares were up 2.7% in premarket activity Monday.