JetSetGo signs 280 hybrid-electric aircraft deal worth $1.3-bn with 3 firms

Air services operator JetSetGo has signed a 280 hybrid-electric aircraft deal, including 130 on option, worth over USD 1.3-billion with three global aviation tech firms.

These planes can be deployed for airport transfers, regional connectivity, inter-city commute, intra-city shuttles and urban air taxis, JetSetGo said.

The strategic collaboration with Electra.aero, Horizon Aircraft and Overair, was unveiled at the on-going mega aviation event Wings India 2024 in Hyderabad.

"As part of the agreements signed this week, JetSetGo is set to acquire 150 aircraft for an aggregate deal value of USD 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 USD 1.3 billion," the company said.

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, it said.

JetSetGo believes Advanced Air Mobility (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, it stated.

"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," said Kanika Tekriwal, Founder and CEO of JetSetGo's CEO.

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, the company said.

Founded in 2014, by Tekriwal and Sudheer Perla, the New Delhi-based JetSetGo's current fleet comprises five mid-size Hawker aircraft and six other aircraft ranging from large cabin jets to helicopters.