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

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

Key Takeaways:

Canadian advanced air mobility firm Horizon Aircraft signed a deal with Indian operator JetSetGo for the purchase of up to 100 hybrid-electric Cavorite X7 aircraft, valued at up to $500 million.
The Cavorite X7 is a seven-seat, hybrid-electric vertical takeoff and landing (VTOL) aircraft designed to offer superior range, speed, and payload compared to all-electric eVTOL air taxis.
This significant order follows Horizon's recent Nasdaq IPO and positions the company to enter the populous Indian market, where JetSetGo plans to use the aircraft for passenger-carrying advanced air mobility routes.

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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.