Hyderabad: Air services operator JetSetGo has announced plans for 280 hybrid-electric aircraft, with an additional 130 on option. The deal, valued at over US$ 1.3 billion, is in collaboration with three global aviation tech firms: Electra.aero, Horizon Aircraft, and Overair. The announcement was made during the prestigious Wings India 2024 event in Hyderabad.
As part of the agreements, JetSetGo is poised to acquire 150 aircraft, amounting to a staggering US$ 780 million. However, the company has left room for further expansion, with options to acquire additional aircraft that could scale the fleet size to an impressive 280. This potential fleet expansion raises the overall deal value to over USD 1.3 billion, showcasing JetSetGo’s commitment to advancing air mobility solutions in India.
JetSetGo’s fleet expansion will cater to various segments of the aviation sector, these hybrid-electric planes are designed for versatile use, including airport transfers, regional connectivity, inter-city commute, intra-city shuttles, and urban air taxis, offering a broad spectrum of air mobility solutions.
JetSetGo is at the forefront of adopting Advanced Air Mobility (AAM) technologies, leveraging electric and hybrid-electric propulsion for short-distance air taxi-style services. The company believes that AAM solutions have the potential to revolutionise mobility and connectivity across India’s urban and regional landscapes, similar to the impact of commercial air travel on the economy and society.
JetSetGo’s founder and CEO Kanika Tekriwal emphasises India’s unique suitability as a launch market for AAM, citing the country’s geography and demographics. The newly announced strategic partnership aims to introduce cutting-edge technologies such as ‘blown lift’ and ‘fan-in-wing’ lift systems, hybrid and electric propulsion, and super-quiet optimal speed tilt rotors to India.
JetSetGo plans to pioneer AAM applications across five identified use cases: airport transfers, regional connectivity, intercity commute, intra city shuttles, and urban air taxis. The company will initially deploy hybrid-electric planes from Electra.aero and Horizon, utilising existing infrastructure. Overair’s Butterfly advanced electric eVTOL aircraft will facilitate future urban air mobility applications as the necessary infrastructure develops in Indian cities.
Founded in 2014 by Kanika Tekriwal and Sudheer Perla, JetSetGo has steadily grown its fleet, currently comprising five mid-size Hawker aircraft and six other aircraft ranging from large cabin jets to helicopters. The recent mega-deal underscores the company’s commitment to innovation and transforming the landscape of air travel in India.
