JetSetGo builds strategic partnerships with Electra.aero, Horizon Aircraft, and Overair and signs agreements

·The three partnerships announced today are set to revolutionize India’s aviation sector by introducing Advanced Air Mobility (AAM) solutions, which promise to significantly improve mobility and connectivity across urban and regional landscapes

·    By bringing unique technologies such as Electra’s blown lift system and hybrid propulsion, Horizon Aircraft’s hybrid-powered fan-in-wing lift system and Overiar’s electrically-powered optimal speed tilt rotors to India, these complimentary partnerships aim to transform the on-demand aviation sector and position India as a potential global leader in developing AAM solutions tailored for developing economies

Hyderabad, January 2024: JetSetGo, India’s first marketplace for private jet and helicopter charters, and a leading fleet operator, today announced strategic partnerships with three global aviation technology leaders - Electra.aero, Horizon Aircraft and Overair - to bring Advanced Air Mobility (AAM) solutions to India. The partnerships were unveiled during the first-ever AAM conference held at Begumpet Airport.

As part of the agreements signed this week, JetSetGo is set to acquire 150 aircrafts for an aggregate deal value of $780 million. The agreements include further options to acquire additional aircrafts for a potential fleet size of 280 to scale its innovative air mobility solutions, raising the overall deal value of above $1.3 billion.

The AAM event saw participation from operators, OEMs, regulators, investors and policy makers, coming together to showcase new technologies and solutions in Advanced Air Mobility, in an Innovation Zone at the exhibition and a conference session debating the opportunities and challenges ahead for developing Advanced Air Mobility in India’s cities and regions.

Advanced Air Mobility utilizes new aviation technologies like electric and hybrid-electric propulsion to enable air taxi-style services for short distance travel between and within cities. JetSetGo believes AAM solutions have immense potential for greater mobility and connectivity across India's urban and regional landscapes akin to the economic and social impact commercial air travel has had.

As per the company's analysis, the three AAM aircraft designs selected offer an optimal mix for five identified use cases: airport transfers, regional connectivity, intercity commute, intracity shuttles and urban air taxis. JetSetGo intends to pioneer AAM's application to these use cases starting with hybrid-electric planes from Electra.aero and Horizon that can utilize existing infrastructure, followed by Overair’s Butterfly advanced electric eVTOL aircraft for future urban air mobility applications as the infrastructure to support that develops in India’s cities.

KanikaTekriwal, JetSetGo’s CEO and co-founder,stated,"I am very excited about the partnerships we are building today and the scale of the vision these agreements represent. India's geography and demographics make it an ideal launch market for AAM. Our partnership 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. We want to lead the transformation of urban and regional connectivity and believe we have the right partners and technologies to make this vision a reality. The scale of the agreements we’ve signed this week emphasise the scale of our ambition and belief in these new technologies.”

She further added, “The enthusiasm and ideas showcased at today's conference reaffirms our belief - India has the energy and the building blocks to become the world's leader in AAM solutions tailored for developing economies. JetSetGo will strive to play the role of an accelerant by leading the discussion and debate in India, pioneering the application of cutting-edge global technologies, and engaging local stakeholders in a collaborative effort to make Advanced Air Mobility a reality."

Brandon Robinson, Chief Executive Officer of Horizon commented, “We are truly honoured by this commitment from JetSetGo, a leading regional on-demand operator with a shared vision of a more sustainable and efficient on-demand regional travel. We are confident that our Cavorite X7 eVTOL will operate sustainably and profitably across India as well as many other global locations. As a hybrid electric aircraft, there is no need to install expensive charging support equipment across the travel network; it is a machine designed for challenging, real-world operations.”

“JetSetGo continues to be a first mover in India’s private aviation market by embracing AAM and adding Electra ’s hybrid-electric short takeoff and landing (eSTOL) aircraft to its fleet,” said Marc Ausman, Chief Product Officer of Electra.aero. “Our aircraft’s unique ability to operate from soccer field sized spaces, with the capacity to transport nine passengers up to 500 miles, enables JetSetGo to identify new routes using eSTOL capability, and deliver sustainable, affordable air connections to India’s communities previously underserved by flight. Electra is committed to partnering with JetSetGo for the long term to grow regional transportation markets in India, and help bring jobs and vital economic growth to these communities.”

Valerie Manning, Chief Commercial Officer for Overair, said, “We’re thrilled that JetSetGo has selected Overair to support its commitment to bringing sustainable, advanced air mobility to India’s rapidly growing and innovative transportation system. Butterfly will provide a safe, quiet, and efficient mobility solution for urban and regional transport across the broadest range of weather conditions and geographic environments. In addition, the associated advanced air mobility ecosystem will create a multitude of jobs and fuel economic growth."

AAM has the potential to revolutionize transportation, ease urban congestion through air taxi services, provide rapid regional connectivity, and enable economic growth. With lighter, emission-free aircraft designs, AAM promises to offer eco-friendly intra-city and last mile transportation options. India offers a vast untapped opportunity for AAM to aid mobility and economic growth, whilst also tackling the scourges of traffic congestion, environmental impact and aviation emissions. India’s geographical expanse, infrastructure challenges, and road congestion issues make it an ideal testbed for sustainable air taxi and commuter solutions.

About JetSetGo

JetSetGo, founded in 2014 by the visionary duo KanikaTekriwal and SudheerPerla, has been on a mission to revolutionise private air travel in India. Its core principles, putting customer needs first, maximising the value of their time, and making private aviation simple and accessible,), have positioned the brand as a leading provider of private aviation services.

 

Headquartered in New Delhi, JetSetGo was conceived by a commitment to tackle the significant challenges within the private aviation sector. The brand has created a more transparent and accessible marketplace for private jet charter, making private jet ownership more affordable and convenient while elevating the quality and consistency of charter services. The fleet currently comprises five mid-size Hawker aircraft, meticulously tailored to the unique demands of the Indian market, and six other aircraft ranging from large cabin jets to helicopters.

 
About Horizon Aircraft

Horizon Aircraft is an advanced aerospace engineering company that is developing one of the world’s first hybrid eVTOL that is to be able to fly most of its mission exactly like a normal aircraft while offering industry-leading speed, range, and operational utility. Horizon’s unique designs put the mission first and prioritize safety, performance, and utility. Horizon hopes to successfully complete testing and certification of its Cavorite X7 eVTOL quickly and then enter the market and service a broad spectrum of early use cases. Visitwww.horizonaircraft.com for more information.

About Overair

 Overair is positioned to be a global leader in advanced air mobility. Spun out of Karem Aircraft in 2020, the Santa Ana, California-based company announced the design of its vehicle, Butterfly, in 2021. Butterfly is a breakthrough electric vertical takeoff and landing (eVTOL) aircraft. Butterfly's proprietary technologies, derived from the Overair team's decades of aerospace experience, create critical power reserves using today's commercially available battery cells, which translate into advances in safety and a superior experience for riders and communities. With eVTOL adoption set to revolutionize urban mobility, Butterfly is positioned to set the bar on real-world dependability, with best-in-class payload, sound emissions and weather capability. Overair has operating partnerships with companies such as Hanwha Systems and Bristow Group, and the team completed its full-scale propulsion testing in the second quarter of 2022 and completed assembly of its full-scale prototype in December 2023

 
About Electra 

Electra.aero, Inc.  (Electra) is a next-gen aerospace company leading the way in sustainable urban and regional mobility. The company is building clean, hybrid-electric, short takeoff and landing (eSTOL) airplanes that fly people and cargo quieter, further, and more affordably. Electra's technology delivers 2.5x the payload and 10X longer range with 70% lower operating costs than vertical takeoff alternatives with far less certification risk. Electra's team includes some of the most respected and successful entrepreneurs and engineers in novel aircraft design, with over 40 prior aircraft successfully developed and/or certified. Its technology development is supported by Lockeed Martin Ventures, the Virginia Innovation Partnership Corporation (VIPC), Statkraft Ventures, and additional private investors in addition to contracts with NASA and the U.S. Air Force AFWERX/Agility Prime program.