XTI Aerospace secures major order from Mesa Air Group

XTI Aerospace has released that Mesa Air Group (Mesa), the holding company of regional air carrier Mesa Airlines, is the purchaser under a previously disclosed conditional purchase order with XTI Aircraft Company (XTI), a wholly owned subsidiary of XTI Aerospace, for up to 100 TriFan 600 aircraft. The TriFan 600 is a fixed-wing, vertical lift crossover airplane (VLCA), currently in development. If all conditions are met and the order is fully exercised, it could represent up to approximately US$1 billion in revenue for XTI Aerospace.

XTI Aerospace also announced that Mesa is an investor in XTI Aerospace, holding warrants and a minority stake in common stock shares. Jonathan Ornstein, Chairman and Chief Executive Officer of Mesa Air Group, stated, “Over the past thirty years, we have witnessed the regional aviation industry evolve from flying piston-engine, nine-passenger aircraft, to turboprop aircraft, to large regional jets. Advanced air mobility is a new chapter that I am particularly excited about, given radical improvements in design versus existing regional alternatives and resulting progress toward a more sustainable future. XTI’s TriFan 600 is poised to create a unique new category within the industry – an aircraft with VTOL capability coupled with the longer range and speed of a business airplane. Given the state of development in innovative propulsion for its proposed longer-range, higher-speed VTOL flights, we believe XTI’s phased approach – starting with certified turboshaft engines capable of burning 100% sustainable aviation fuel and transitioning to hybrid-electric propulsion as the technology develops further – is pragmatic.”

XTI Aerospace, an aviation business based near Denver, Colorado, is currently developing the TriFan 600, a fixed-wing business aircraft designed to have the vertical take-off and landing (VTOL) capability of a helicopter fly at speeds of up to 345 mph and a range of 700 miles, creating an entirely new category – the vertical lift crossover airplane (VLCA). Additionally, the Inpixon (inpixon.com) business unit of XTI Aerospace is a leader in real-time location system (RTLS) technology, with customers around the world who use the Company’s location intelligence solutions in factories and other industrial facilities to help optimise operations, increase productivity, and enhance safety.