FutureFlight
Horizon Completes IPO and Signs eVTOL Purchase Agreement with Indian Charter Group
A memorandum of understanding with Dehli-based JetSetGo prices its six-passenger Cavorite X7 eVTOL aircraft at $5 million.
Horizon Aircraft is developing a hybrid-electric eVTOL vehicle called the Cavorite X7.
Horizon's Cavorite X7 hybrid-electric eVTOL aircraft will carry six passengers up to 500 miles. (Image: Horizon Aircraft)

Indian private aviation group JetSetGo plans to reshape its fleet for the emerging advanced air mobility sector with up to 100 of Horizon Aircraft’s in-development Cavorite X7 eVTOL model. On January 16, the Dehli-based company signed a memorandum of understanding provisionally committing to purchase 50 of the six-passenger X7, with options for another 50.

Toronto-based Horizon reported the purchase price for each of the hybrid-electric aircraft as $5 million. On this basis, the transaction would be valued at between $250 million and $500 million.