Mesa Air Group this week confirmed it has provisionally committed to buying up to 100 of XTI Aerospace’s TriFan 600 VTOL aircraft. The sales commitment had been kept confidential until June 5, when the holding company for regional airline Mesa Airlines agreed to let the Colorado-based start-up publicize the deal.
Converting the provisional sales into firm orders is contingent on Nasdaq-listed XTI securing sufficient funding to complete the development of the turbine-powered aircraft, which is expected to carry six passengers on sectors of up to around 600 nm. XTI describes it as a vertical lift crossover airplane, with a design based on a pair of tilting ducted fans on the wing and another fan integrated into the rear fuselage.
Based on a projected list price of $10 million per aircraft, XTI says the agreement with Mesa is worth up to $1 billion. It said that the airline holds a minority stake in the company, which went public via a merger with tech group Inpixon.
Mesa Airlines has made several commitments to investing in electric or hybrid-electric aircraft. XTI has eschewed alternatives to turbine propulsion, arguing that they will not deliver the range and payload regional and business aircraft operators need.
In 2022, Mesa was among the early backers for Heart Aerospace’s planned ES-30 hybrid-electric 30-seater, and before that its smaller all-electric ES-19 model. Mesa’s parent company United Airlines has placed orders for eVTOL aircraft being developed by Archer Aviation and Eve Air Mobility, as well as investing in a hydrogen propulsion system developed by ZeroAvia.
"I think of the TriFan as the legendary King Air reimagined," said Mesa Air chairman and CEO Jonathan Ornstein. "The TriFan's ability to utilize helipads and non-traditional landing areas as well as traditional airports would considerably expand its usability and set it apart from other aircraft in the market."
XTI Seeks Help To Advance Development Work
XTI’s leadership team has not published a timeline for bringing the TriFan 600 to market but has said it aims to start test flights with a full-scale prototype within two years. It is unclear how much funding the company has to support development work.
On June 4, XTI announced that it had signed a letter of intent with AVX Aircraft Company, which will provide support for development, design, and certification work. Texas-based AVX has worked on numerous U.S. military technology development programs, advancing concepts such as a coaxial rotor system and various uncrewed aircraft designs. The companies said they expect to sign a definitive partnership agreement “in the coming weeks.”