Santa Ana, CALIFORNIA Jan. 18, 2024 — Overair, an emerging global leader in advanced air mobility (AAM) and a developer of all-electric vertical takeoff and landing (eVTOL) aircraft, today announced it has received a letter of intent from JetSetGo, India’s largest private jet provider, for the purchase of 50 Butterfly eVTOL aircraft. Overair is the only eVTOL manufacturer selected for JetSetGo’s initial $1.3 billion AAM investment.

“We’re thrilled that JetSetGo has selected Overair to support its commitment to bringing sustainable, advanced air mobility to India’s rapidly growing and innovative transportation system,” said Valerie Manning, Chief Commercial Officer at Overair. “Butterfly will provide a safe, quiet, and efficient mobility solution for urban and regional transport across the broadest range of weather conditions and geographic environments. In addition, the associated advanced air mobility ecosystem will create a multitude of jobs and fuel economic growth.”

In addition to aircraft, Overair will support JetSetGo’s upcoming AAM ecosystem with infrastructure advisement, pilot training, infrastructure and software integration, operational guidance, and vertiport software integration.

Announced alongside deals with Horizon Aircraft and Electra.aero during Wings India 2024, the largest civil aviation event in Asia at Begumpet airport in Hyderabad, Telangana, Kanika Tekriwal, JetSetGo’s CEO and co-founder, stated, “I am very excited about the partnerships we are building today and the scale of the vision these agreements represent. India’s geography and demographics make it an ideal launch market for AAM. Our partnership with these three leading innovators will introduce unique technologies like ‘blown lift’ and ‘fan-in-wing’ lift systems, hybrid and electric propulsion, and super-quiet optimal speed tilt rotors to India. We want to lead the transformation of urban and regional connectivity and believe we have the right partners and technologies to make this vision a reality. The scale of the agreements we’ve signed this week emphasise the scale of our ambition and belief in these new technologies.”

She further added, “The enthusiasm and ideas showcased at today’s conference reaffirms our belief – India has the energy and the building blocks to become the world’s leader in AAM solutions tailored for developing economies. JetSetGo will strive to play the role of an accelerant by leading the discussion and debate in India, pioneering the application of cutting-edge global technologies, and engaging local stakeholders in a collaborative effort to make Advanced Air Mobility a reality.”

This announcement builds on Overair’s existing international footprint, with the company already holding agreements to support AAM networks and supply aircraft in South Korea.

Butterfly deliveries will begin in accordance with the Federal Aviation Administration’s (FAA) AAM Implementation Plan timeline.

To learn more about Overair and its Butterfly aircraft, please visit www.Overair.com.

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About Overair

Overair is positioned to be a global leader in advanced air mobility. Spun out of Karem Aircraft in 2020, the Santa Ana, California-based company announced the design of its vehicle, Butterfly, in 2021. Butterfly is a breakthrough electric vertical takeoff and landing (eVTOL) aircraft. Butterfly’s proprietary technologies, derived from the Overair team’s decades of aerospace experience, create critical power reserves using today’s commercially available battery cells, which translate into advances in safety and a superior experience for riders and communities. With eVTOL adoption set to revolutionize urban mobility, Butterfly is positioned to set the bar on real-world dependability, with best-in-class payload, sound emissions, and weather capability. Overair has operating partnerships with companies such as Hanwha Systems and Bristow Group, and the team completed its full-scale prototype in the fourth quarter of 2023.

About JetSetGo

JetSetGo, founded in 2014 by the visionary duo Kanika Tekriwal and Sudheer Perla, has been on a mission to revolutionise private air travel in India. Its core principles, putting customer needs first, maximising the value of their time, and making private aviation simple and accessible,), have positioned the brand as a leading provider of private aviation services.

Headquartered in New Delhi, JetSetGo was conceived by a commitment to tackle the significant challenges within the private aviation sector. The brand has created a more transparent and accessible marketplace for private jet charter, making private jet ownership more affordable and convenient while elevating the quality and consistency of charter services. The fleet currently comprises five mid-size Hawker aircraft, meticulously tailored to the unique demands of the Indian market, and six other aircraft ranging from large cabin jets to helicopters.

Media Contact

Kim Jennett

Head of Marketing and Communications

Overair

kjennett@overair.com