XTI Aerospace Announces Mesa Airlines’ Investment in XTI and “Conditional Pre-Order for 100 TriFan 600 Aircraft”

XTI Aero­space, announced last week that Mesa Air Group, the hold­ing com­pa­ny of region­al air car­ri­er Mesa Air­lines, is pur­chas­ing up to 100 Tri­Fan 600 air­craft, reports a press release. 

If all con­di­tions are met and the order is ful­ly exer­cised, it could rep­re­sent close to USD1 bil­lion in rev­enue for XTI. Mesa is also becom­ing an investor in the aero­space com­pa­ny with war­rants and a minor­i­ty stake in com­pa­ny shares. 

Scott Pomeroy, Chair and CEO of XTI, com­ment­ed, “We are excit­ed to have secured this con­di­tion­al pre-order and posi­tion from Mesa Air­lines and believe it serves as fur­ther val­i­da­tion of the sub­stan­tial and untapped mar­ket for our air­craft. With a max­i­mum speed of 345 mph and a range of 700 miles, we believe the Tri­Fan 600 will be an ide­al alter­na­tive to exist­ing air­craft for region­al pas­sen­gers.”

Jonathan Orn­stein

Jonathan Orn­stein, Chair­man and CEO of Mesa Air Group, remarked, “XTI’s Tri­Fan 600 is poised to cre­ate a unique cat­e­go­ry with­in this new avi­a­tion indus­try. An air­craft with VTOL capa­bil­i­ty cou­pled with the longer range and speed of a busi­ness air­plane.”

He con­tin­ued, “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 per­cent sus­tain­able avi­a­tion fuel and tran­si­tion­ing to hybrid-elec­tric propul­sion as the tech­nol­o­gy devel­ops fur­ther, is prag­mat­ic.”

For more infor­ma­tion

XTIAerospace.com

Mesa-Air.com

(Top image: XTI Aero­space)

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