They do. As tanker mentioned above, Vallejo Model Color is thicker, much thicker and has some great (IMO) self-leveling properties for brush painting. (if it's too thick, many folk thin it a tad with distilled water. I've done this myself)
Model Air is advertised as ready to spray out of the dropper bottle, though many if not most add a bit of thinner (and I'd stick with Vallejo thinner only). I go both ways.
Model Air does not brush well at all. It is too thin. It works great for small touch-ups, and I've left it on the pallet for a while to thicken up a bit for larger jobs when I have no corresponding Model Color color, but it's still not the best.
My two cents anyway. Others might have more info for you.