Horizon Aircraft Goes Public, Secures Order for Up to 100 Hybrid-Electric Models

The manufacturer signed a letter of intent with Indian regional air operator JetSetGo for the purchase of up to 100 aircraft, valued at up to $500 million.

Jack Daleo

Wednesday, January 17, 2024 at 12:34 PM ET

Verified

Horizon Aircraft’s Cavorite X5 model, which will soon be replaced by the seven-seat Cavorite X7. [Courtesy: Horizon Aircraft]

Key Takeaways:

Canadian manufacturer Horizon Aircraft secured a deal with Indian regional air operator JetSetGo for the purchase of up to 100 hybrid-electric Cavorite X7 aircraft, valued at up to $500 million.
This significant agreement, marking Horizon's entry into the populous Indian market, was announced within a week of the company's initial public offering (IPO) on the Nasdaq.
The Cavorite X7 is a seven-seat, hybrid-electric vertical takeoff and landing (VTOL) aircraft that Horizon claims offers greater range, speed, and payload than competing all-electric air taxi designs.

See a mistake? Contact us.

Canadian manufacturer Horizon Aircraft is the latest advanced air mobility (AAM) firm to put down roots in Asia.

Horizon, maker of the seven-seat, hybrid-electric vertical takeoff and landing (VTOL) Cavorite X7, on Tuesday announced an agreement with Indian regional air operator JetSetGo for the purchase of up to 100 aircraft. The deal, worth up to $500 million, comes within a week of the manufacturer’s initial public offering (IPO) on the Nasdaq Stock Market.