California-based startup Xwing has announced the addition of Fred Cromer to its executive team as chief financial officer.
Cromer brings more than two decades of executive experience to the fast-growing disruptor, serving previously in president roles at Bombardier and International Lease Finance Corp. and CFO at ExpressJet Holdings and Continental Express.
The company hopes to lean on Cromer’s experience as it looks to deploy its autonomous aviation technology and position Xwing to gain a larger share in the fast-growing air cargo market.
“At Xwing, I have the opportunity to be a part of a team that will revolutionize regional air mobility by developing and implementing innovative and transformative technology to dramatically lower the cost of transporting cargo and eventually passengers,” Cromer said in a statement.
Xwing’s Plans
Led by founder and CEO Marc Piette, Xwing says it is on a mission to build the world’s smartest, cleanest, and most advanced air mobility system.
The company hopes to gain public confidence first by flying cargo. The pandemic has shifted consumer demands, and the e-commerce industry has seen accelerated growth, stretching sales to $26.7 trillion, according to one report. Air cargo carriers have been unable to meet the demand, and Xwing wants in.
How It’s Going
The company has been testing its technology on a Cessna 208B Grand Caravan, successfully demonstrating its autonomous gate to gate concept, with a supervising pilot on board. An operator on the ground handled the radios and relayed commands to the aircraft.
XWing also said it completed a proof-of-concept flight, including a four-hour delivery of PPE and other essentials from Concord, California, to a Navajo reservation in Winslow, Arizona, in 2020, as well as delivering COVID-19 vaccines in the remote areas of Holbrook, Arizona, in 2020.
Strategic Partnerships and Recognition
Xwing’s Autoflight System retrofits existing aircraft to convert airplanes into optionally piloted vehicles. Its onboard flight control systems allow the aircraft to navigate, take off and land autonomously, and avoid other aircraft.
In October, Xwing announced it had entered a joint partnership with Textron Aviation to develop autonomous flight capability for its current and future aircraft. Xwing will share its autonomous technology with Textron in exchange for engineering and certification support. Separately, it announced a $40 million funding round, a $400 million valuation, and another key partnership with Inmarsat.
Time Magazine included the company in its “TIME’s Best Inventions of 2021” list.
Cromer Joins a Stellar Suite
“We’re excited to have Fred on our side as we develop new financial models through this significant period of growth,” Piette said.
Cromer joins other leading industry executives and key advisors such as:
- Greg Hall, former CEO of Global Air Operations at FedEx
- Jeff Martin, former COO at WestAir
- Allan McArtor, chairman and CEO of Airbus Americas
