JetSetGo signs LOI for purchase of up to 100 Cavorite X7 aircraft

New Horizon Aircraft, a leading hybrid eVTOL aircraft developer, has entered into a letter of intent (LOI) with JetSetGo, a regional air operator servicing multiple mission profiles. This LOI allows JetSetGo to purchase 50 Cavorite X7 aircraft at a purchase price up to US$5 million per aircraft for a total aggregate consideration of US$250 million, with an option to purchase an additional 50 aircraft.

JetSetGo, founded in 2014 by the visionary duo Kanika Tekriwal and Sudheer Perla, 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 on-demand private aviation services.

Kanika Tekriwal, JetSetGo’s CEO and co-founder, stated, “Our decision to enter into this agreement with Horizon Aircraft was not taken lightly. We ultimately decided to partner with a company with a deep operational and aerospace technology background that will deliver a product that will help usher in a new era of sustainable air travel while also providing significant value for our customers. This partnership will help JetSetGo profitably enter new markets by leveraging the versatility of the Cavorite platform to bring about the vision of advanced air mobility in India.”

Headquartered in New Delhi, JetSetGo was founded through 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. (£1.00 = US$1.27 at time of publication).