JetSetGo Signs $1.3B Deal for 280 Hybrid-Electric Aircraft
JetSetGo, a leading air services operator, has finalized a significant deal with three global aviation technology firms, securing 280 hybrid-electric aircraft. The comprehensive agreement, valued at over USD 1.3 billion, includes options for an additional 130 aircraft. These hybrid-electric planes are versatile and can be utilized for various purposes such as airport transfers, regional connectivity, inter-city commute, intra-city shuttles, and urban air taxis. The collaboration with Electra.aero, Horizon Aircraft, and Overair was unveiled at the Wings India 2024 aviation event in Hyderabad. The deal's first phase involves acquiring 150 aircraft, with a total value of USD 780 million.
"The agreements also include additional options to procure more aircraft, potentially expanding the fleet size to 280 to support the growth of innovative air mobility solutions, increasing the total deal value beyond USD 1.3 billion", according to the company. Advanced Air Mobility (AAM) leverages cutting-edge aviation technologies such as electric and hybrid-electric propulsion to facilitate air taxi-style services for short-distance travel within and between cities.
JetSetGo envisions significant opportunities for enhanced mobility and connectivity in India's urban and regional areas through AAM, comparable to the transformative impact commercial air travel has had on economic and social aspects. "India's geographical and demographic characteristics make it an ideal market for the launch of AAM. Our collaboration with these three leading innovators will introduce unique technologies like 'blown lift' and 'fan-in-wing' lift systems, hybrid and electric propulsion, and super-quiet optimal speed tilt rotors to India", explained Kanika Tekriwal, Founder and CEO of JetSetGo.