Hybrid-electric eVTOL (electric vertical takeoff and landing) aircraft developer Horizon Aircraft has signed an agreement with JetSetGo, enabling the Indian regional air operator to purchase up 50 Cavorite X7 aircraft. The Letter of Intent also includes an option for a further 50. With a purchase price of up to $5 million per aircraft, both deals could be worth in the region of $500 million.
Primarily focusing on private jet charter services, JetSetGo currently operates five mid-size Hawker business jets and six other aircraft ranging from large cabin jets to helicopters. “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,” explained JetSetGo CEO and co-founder Kanika Tekriwal, highlighting Horizon’s “deep operational and aerospace technology background”.
Brandon Robinson, CEO of Horizon, is confident that the Cavorite X7 will “operate sustainably and profitably across India as well as many other global locations”. He also highlighted that as a hybrid electric aircraft, “there is no need to install expensive charging support equipment across the travel network”.
A half-scale Cavorite technology demonstrator successfully completed its first transition flight tests in a wind tunnel last year. Horizon hopes to 'successfully complete testing and certification of its Cavorite X7 eVTOL quickly and then enter the market and service a broad spectrum of early use cases'.