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Next-gen air travel takes flight: Horizon locks in $250M deal for cutting-edge eVTOL aircraft

written by Newsdesk | January 17, 2024

Next-gen air travel takes flight: Horizon locks in $250M deal for cutting-edge eVTOL aircraft

In a move set to shape the future of regional air transportation, Horizon Aircraft has penned a Letter of Intent (LOI) with JetSetGo, the leading regional air operator in India, for an impressive purchase of 50 Cavorite X7 Aircraft. The agreement edges the total value up to $250 million USD, with possibilities of doubling the acquisition based on an additional option agreement.

With a vision clearly set on sustainability and efficient regional travel, Horizon Aircraft CEO Brandon Robinson expresses confidence in the newly sealed partnership, noting, “We are truly honoured by this commitment from JetSetGo, a leading private aviation operator with a shared vision of a more sustainable and efficient on-demand regional travel. We are confident that our Cavorite X7 eVTOL will operate sustainably and profitably across India as well as many other global locations. As a hybrid electric aircraft, there is no need to install expensive charging support equipment across the travel network; it is a machine designed for challenging, real-world operations.”

JetSetGo’s CEO and co-founder, Kanika Tekriwal, echoed the sentiment with equal enthusiasm. “Our decision to enter into this Agreement with Horizon Aircraft was not taken lightly. We ultimately decided to partner with a company with a deep operational and aerospace technology background that will deliver a product that will help usher in a new era of sustainable air travel while also providing significant value for our customers. This partnership will help JetSetGo profitably enter new markets by leveraging the versatility of the Cavorite platform to bring about the vision of Advanced Air Mobility in India.”

Horizon Aircraft stands out in the aerospace sector for producing one of the world’s pioneering hybrid electric Vertical TakeOff and Landing (eVTOL) aircraft, which promises to deliver industry-leading speed, range, and utility. The company projects a swift move through testing and certification phases of its Cavorite X7 eVTOL, with an ambition to cater to a broad spectrum of initial use cases post-market entry.

Meanwhile, JetSetGo has established itself as a trailblazer in private aviation throughout India since 2014, setting new benchmarks in quality, service, and accessibility within the sector. The brand’s strategic alliance with Horizon Aircraft poises both companies at the forefront of the transition to Advanced Air Mobility, highlighting a key milestone in the evolution of air travel.

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