Jaunt Air Mobil­i­ty, which is devel­op­ing a four-pas­sen­ger eVTOL air­craft called Jour­ney, became a whol­ly owned sub­sidiary of Airo Group (AG) in March 2022. Now its par­ent com­pa­ny is plan­ning to go pub­lic, reports flyingmag.com. Jaunt should finan­cial­ly ben­e­fit from such a move, along­side sub­sidiary Aspen Avion­ics, as the IPO will pro­vide fur­ther fund­ing.

This week AG announced it had filed an S‑1 draft reg­is­tra­tion state­ment with the Secu­ri­ties and Exchange Com­mis­sion (SEC). The U.S com­pa­ny com­ment­ed it has yet to deter­mine the num­ber of shares or the equi­ty price. The tim­ing of the IPO is sub­ject to an SEC review process, as well as the strength of the glob­al stock mar­ket. In a state­ment released Mon­day, the aero­space con­sor­tium made clear “it seeks growth oppor­tu­ni­ties across its ver­ti­cals.”

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Jaunt expects to start deliv­er­ing the Jour­ney in 2026. In late July, the com­pa­ny announced it intends to estab­lish a final assem­bly line for its air­craft in India before the end of this decade to serve the South Asian mar­ket. The move is based on its ear­li­er part­ner­ship with the country’s L&T Tech­nol­o­gy Ser­vices group.

Jaunt aims to cer­ti­fy the air­craft in the U.S., Cana­da, and Europe, and will con­struct ear­ly exam­ples in North Amer­i­ca, with an ini­tial list price of USD1.5 mil­lion.



Mean­while, Airo was found­ed by Del­hi-born Indi­an-Amer­i­can entre­pre­neur Chir­in­jeev Kathuria. Last month, the group announced it had com­plet­ed the merg­er of six aero­space com­pa­nies, span­ning involve­ment in the air mobil­i­ty, drones, avion­ics and train­ing sec­tors. 

Joe Burns

Joe Burns, AG’s CEO, recent­ly com­ment­ed, “Oper­a­tors are look­ing for a pedi­gree of cer­ti­fi­ca­tion and safe­ty as well as robust, dynam­ic capa­bil­i­ties, effi­cien­cies and qui­et oper­a­tions.”

He con­tin­ued, “AIRO is proud to have received numer­ous air­craft orders as well as mul­ti­ple U.S. DOD con­tracts aimed at opti­mis­ing eVTOL speed and min­imis­ing acoustic sig­na­tures for qui­et oper­a­tions.”

In addi­tion to Aspen Avion­ics, which is an estab­lished sup­pli­er of flight deck sys­tems in the gen­er­al and busi­ness avi­a­tion sec­tors, Airo is also earn­ing rev­enues from its pilot train­ing and drone oper­a­tions.

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(News Source: www.flyingmag.com)

(Images: Jaunt Air Mobil­i­ty)