Indian private aviation group JetSetGo has expanded its plans to launch advanced air mobility (AAM) services with new agreements to add Overair’s Butterfly eVTOL aircraft and Electra’s hybrid-electric, blown-lift fixed-wing model. The partnerships announced on January 19 at the Wings India trade show in Hyderabad came a few days after the operator said it plans to buy up to 100 of Horizon’s six-passenger, hybrid-electric Cavorite X7 aircraft (including 50 options).
The agreement with Overair covers provisional sales of 50 Butterfly models at an undisclosed price. JetSetGo also says it will add an unspecified number of Electra’s nine-passenger aircraft to its fleet.
According to the Delhi-based group, it has firmly committed to buying 150 aircraft from the three manufacturers with a combined value of $780 million. If options are exercised, the value of the combined transaction could increase to 280 aircraft and $1.3 billion.
The eye-catching deal makes JetSetGo the latest in a series of prospective operators of new electric and hybrid-electric aircraft making provisional sales agreements with multiple manufacturers, with others including helicopter group Bristow and charter provider Blade. The Indian company has not said whether it will proceed to purchase all three aircraft types, or whether it sees the partnerships as ways to assess its options.
According to Sergio Cecutta, an advanced air mobility expert with SMG Consulting, JetSetGo is, "not picking a [single] winner [for now] but looking at a portfolio of aircraft bets [to consider]." In his view, early multi-type agreements give prospective operators access to early delivery slots in what SMG expects to be a supply-limited industry in its early stages.
Based on SMG's analysis of the latest multi-aircraft deal, Cecutta believes the operator is considering up to 130 of Electra's aircraft (50 provisional orders and 80 options). He feels that this eSTOL aircraft would be the best option for its business model.
"I am not surprised by the increased interest in AAM from Indian operators; it's the most populous country in the world, with currently over 14 million people in the one percent [making over $66,000 per year] and a middle class expected to surpass 600 million people by 2031," Cecutta told AIN. "Currently, Indian operators have placed 830 orders for AAM vehicles, surpassing Brazil to become the third country in the world for the number of aircraft ordered and only 24 orders short of the number two country, the UK."
Electra Edges Past 2,000 Aircraft Orders
The letter of intent signed with JetSetGo took Electra's total "pre-order sales" to more than 2,000 units, which the company says are valued collectively at more than $8 billion. Other recent agreements have been reached with Lygg in Finland and New York City-based Charm Aviation, but the numbers of aircraft involved in these deals were not disclosed. In late December, U.S. regional public charter carrier JSX announced it plans to add up to 82 of Electra's aircraft to its fleet, including 32 orders and 50 options.
Electra’s unnamed aircraft is expected to operate on sectors of up to 500 miles and will have exceptional short takeoff and landing performance, allowing it to operate from spaces as small as 300 feet by 100 feet. In December, the Virginia-based company started flight testing its two-seat technology demonstrator as it works towards FAA type certification in 2028.
According to Electra's founder and CEO John Langford, reaching pre-order agreements with prospective customers helps manufacturers in the process of bringing new aircraft to market. "It puts our relationship under a non-disclosure veil and so we can talk about what their needs really are and they can see where we are," he explained to AIN. Electra says it now has arrangements with 36 different customers based on different commercial terms, some of which include deposit payments.
According to Electra's chief product officer Marc Ausman, its aircraft’s ability to operate from a space no larger than soccer fields will allow JetSetGo to open up multiple new air routes in and around India’s crowded, growing cities. He said Electra will help the Indian company establish the infrastructure needed for new regional air services.
Overair Also Targets 2028 Service Entry With First Butterfly Flight This Year
California-based Overair is working to bring the five-passenger Butterfly into commercial service in 2028, with a projected range of 100 miles. The company recently built the first prototype and aims to start flight testing early this year.
“We’re thrilled that JetSetGo has selected Overair to support its commitment to bringing sustainable, advanced air mobility to India’s rapidly growing and innovative transportation system,” said Overair’s chief commercial officer Valerie Manning. “Butterfly will provide a safe, quiet, and efficient mobility solution for urban and regional transport across the broadest range of weather conditions and geographic environments. In addition, the associated ecosystem will create a multitude of jobs and fuel economic growth.”
Horizon’s Cavorite X7 eVTOL will carry up to six passengers and have a similar range profile to the Electra aircraft but with vertical takeoff and landing capability. The Canadian company this week completed a SPAC-backed listing on the Nasdaq stock exchange, which is expected to raise between $9 million and $25 million in new capital.
JetSetGo was founded in 2014 and provides on-demand charter flights as well as aircraft management, membership packages, maintenance, and aviation consultancy. The company’s fleet consists of five Hawker 750 and 800XP jets, as well as a mix of six other models including the Cessna Citation 525, Bombardier’s Challenger 604 and 850 and Global 6000, Dassault’s Falcon 2000, and a 37-seat Embraer ERJ-135LR airliner.
“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,” commented JetSetGo’s CEO and co-founder Kanika Tekriwal. “We want to lead the transformation of urban and regional connectivity and believe we have the right partners and technologies to make this vision a reality.”
