Fri, Jun 07, 2024
The Project Looks Promising Enough for Procurement Already, but the Order isn't Firm Yet
XTI Aerospace announced that Mesa Airlines has placed an investment-cum-order into their company with an order for 100 TriFan 600 aircraft, a design they call a "fixed-wing, vertical lift crossover airplane" (VLCA) now in development.
Should all the stipulations be met, the order could hit a value of $1 billion in revenue for XTI Aerospace. Along with the order, Mesa Airlines has become an investor with warrants and a minority stake in common stock shares. It's more or less a first for the smaller air carrier, who's calling the shot before the crack of the bat: The VLCA should be a winner. Jonathan Ornstein, chairman and chief executive officer of Mesa Air Group, said the aircraft is most like the "legendary King Air reimagined," offering the ability to use helipads and veritports along with traditional airports.
"Over the past thirty years, we have witnessed the regional aviation industry evolve from flying piston-engine, nine-passenger aircraft, to turboprop aircraft, to large regional jets. Advanced air mobility is a new chapter that I am particularly excited about, given radical improvements in design versus existing regional alternatives and resulting progress toward a more sustainable future. XTI's TriFan 600 is poised to create a unique new category within the industry – an aircraft with VTOL capability coupled with the longer range and speed of a business airplane. 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% sustainable aviation fuel and transitioning to hybrid-electric propulsion as the technology develops further – is pragmatic."
Scott Pomeroy, chairman and chief executive officer of XTI Aerospace added their two cents, seeing the investment as proof his firm is on the right track. "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."
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