Hyderabad: Air service operator JetSetGo on Friday signed a deal with three global aviation tech firms for 280 hybrid-electric aircraft worth over $1.3 billion.
The company is set to acquire 150 aircraft for an aggregate deal value of $780 million.
The agreements include further options to acquire additional aircraft for a potential fleet size of 280, raising the overall deal value to above $1.3 billion.
JetSetGo 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 Wings India 2024.
The hybrid-electric aircrafts can be used for airport transfers, regional connectivity, intercity commute, intra-city shuttles, and urban air taxis. AAM utilises new aviation technologies like electric and hybrid-electric propulsion to enable air taxi-style services for short distance travel between and within cities.
JetSetGo intends to pioneer AAMs’ application 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 these agreements will revolutionise India’s aviation sector by introducing 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, it said.
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JetSetGo’s CEO and co-founder Kanika Tekriwal stated that 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,” she said.
The company believes that AAM has the potential to revolutionise 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.
Founded in 2014, JetSetGo’s fleet currently comprises five mid-size Hawker aircraft and six other aircraft ranging from large cabin jets to helicopters.