VA: Aerospace Firm Electra Books Sales of 2,000 eSTOL Aircraft for $8 Billion

Electra.aero, Inc.., a next-gen aerospace company with a mission to help decarbonize aviation and open new air transportation markets, announced its achievement of pre-order sales of over 2,000 electric short takeoff and landing (eSTOL) aircraft with a market value exceeding $8 billion. Electra passed the order milestone on January 19th when it signed a Letter of Intent (LOI) with JetSetGo Aviation Services Private Ltd. ("JetSetGo") at Wings India 2024, in addition to recent LOIs with travel industry leaders LYGG ("LYGG") in Finland and Charm Aviation, LLC ("Charm") in New York City to introduce Electra's eSTOL aircraft in their respective markets.

Electra has surpassed pre-order sales of over 2,000 eSTOL aircraft with a market value exceeding $8 billion, with new orders from India, Finland, and the US.  Credit: Electra

Electra's order book underscores strong interest from a broad array of flight operators across diverse markets. These operators are opting for Electra's eSTOL aircraft to offer a more convenient and sustainable air travel experience for their customers. Whether facilitating short-distance flights from urban vertiports, covering longer journeys of up to 500 miles to regional airports, or flying adventure tours or medical missions to locations without ground infrastructure, Electra's partners value the unparalleled flexibility, safety, and economics of Electra's eSTOL aircraft.

JetSetGo Aviation Services Partnership

JetSetGo, India's first marketplace for private jet and helicopter charters, operates India's largest on-demand aircraft fleet. Electra and JetSetGo are collaborating to explore relevant markets and identify new routes using eSTOL capabilities. These routes will establish vital connectivity between India's cities and regional transportation hubs for communities underserved by flight. 

"India's geography and demographics make it an ideal launch market for Advanced Air Mobility (AAM). We want to lead the transformation of urban and regional connectivity and believe Electra is the right partner with the technology to make this vision a reality," remarked Kanika Tekriwal, JetSetGo's Chief Operating Officer (CEO) and co-founder.

"JetSetGo continues to be a first mover in India's private aviation market by embracing AAM. Electra is committed to partnering with JetSetGo for the long term to grow regional transportation markets and help bring jobs and vital economic growth to communities in India," said Marc Ausman, Electra Chief Product Officer.

LYGG Partnership

Finland-based LYGG is an on-demand platform for regional flights mainly at airports outside metropolises in Nordic and European travel markets. LYGG will offer its operators the purchase of Electra's eSTOL planes through the Hybrid as a Service model, providing financing and profitability for operators.

"Our partnership with Electra ensures that we are in a global pole position in the sustainable aviation revolution. Electra's eSTOL capability allows us to rewrite the definition of direct connections for environmentally conscious business travelers using existing airfields closer to city centers, reducing valuable time spent in the air," stated LYGG CEO Roope Kekäläinen.

"LYGG is committed to meeting the rising demand of its passengers to travel with the smallest carbon footprint possible, and Electra is excited to help make that possible," said Ausman. "Our climate-friendly hybrid eSTOL aircraft will fly regional distances at reduced operating costs that enable LYGG to serve existing city to city regional routes as well as open up valuable new destinations." 

Charm Aviation Partnership

Charm, one of the largest helicopter tour operators in the Northeastern United States, has joined forces with Electra to introduce sustainable eSTOL aircraft to the heliports and vertiports of Manhattan. Electra's eSTOL aircraft can operate in the available space, require no charging infrastructure, and provide a quieter, more cost-effective solution per seat mile than traditional helicopters and eVTOLs.

"With Electra's eSTOL aircraft, Charm Aviation will offer travelers a much greater choice of travel destinations, while ensuring that we're a good neighbor to our surrounding community with clean, safe flight operations," stated Cait Ephraim, President of Charm Aviation. 

"Electra's aircraft has the range to transform New York City's heliports from urban flight terminals into regional transport hubs with direct flights to cities and smaller communities along the East Coast," Ausman noted.

Electra is currently developing a hybrid eSTOL aircraft that will enable rapid, safe, and affordable transportation of both passengers and cargo within urban and regional networks. The plane's unique ability to take off and land in spaces as small as a soccer field, coupled with a cruising speed of 175 knots and in-flight battery recharging, enables flight operations from places previously inaccessible by flight including converted parking lots, barges, and very short landing strips. Initially designed to accommodate up to nine passengers or 2500 pounds of cargo, the piloted fixed-wing aircraft will cover distances of up to 500 miles in all weather conditions.