India's JetSetGo commits to buying over 150 electric/hybrid jets
JetSetGo has expanded its plans to launch advanced air mobility services with new agreements to add Overair's Butterfly eVTOL aircraft and the Electra hybrid-electric model. The announced partnerships come days after the carrier said it plans to buy up to 100 Cavorite X7 hybrid-electric aircraft from Horizon.
The deal with Overair covers provisional sales of 50 Butterfly models at an undisclosed price. JetSetGo also says it will add an unspecified number of nine-passenger Electra aircraft to its fleet.
The value of the transactions amounts to 780 million dollars
According to the Delhi-based group, it has firmly committed to buying 150 aircraft from the three manufacturers, worth a total of $780 million. If the options are exercised, the value of the combined deal could rise to 280 aircraft and $1,3 billion.
California-based Overair is working to bring the five-passenger Butterfly into commercial service in 2028, with a projected range of 100 miles. The company recently built the first prototype and aims to begin flight tests early this year.
The desired aircraft are in the testing phase
The unnamed Electra aircraft is expected to operate on sectors of up to 500 miles and will have exceptional take-off and landing performance. In December, the Virginia-based company began flight testing its two-seat plane as it works toward FAA type certification by 2028.
According to Electra product director Marc Ausman, its aircraft's ability to operate from a space no larger than a football field will allow JetSetGo to open up more new air routes in and around India's busy and growing cities. He said Electra will help the Indian company establish the necessary infrastructure for new regional air services.
Horizon's Cavorite X7 eVTOL will carry up to six passengers and have a similar autonomy profile to the Electra aircraft, but with vertical takeoff and landing capability. The Canadian company this week completed a SPAC-backed listing on the Nasdaq stock exchange, which is expected to raise between $9 million and $25 million in new capital.
JetSetGo was founded in 2014 and offers on-demand charter flights as well as aircraft management, membership packages, maintenance and aviation consulting. The company's fleet consists of five Hawker 750 and 800XP aircraft, as well as other models including the Cessna Citation 525, Bombardier's Challenger 604 and 850 and Global 6000, Dassault's Falcon 2000 and a 135-seat Embraer ERJ-r37.