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Horizon Aircraft Signs LOI with V-Star for Hybrid eVTOLs in Australia

Stock price chart of Horizon Aircraft (EBR:HOVR) showing fluctuations.

Horizon Aircraft has announced a Letter of Intent (LOI) with V-Star Powered Lift Aviation to purchase up to 100 Cavorite X7 hybrid-electric VTOL aircraft. The initial purchase includes 5 units, with options for up to 95 additional aircraft, totaling $600 million. V-Star aims to use these aircraft to enhance emergency air response capabilities across Australia.

V-Star, an Australian aviation operator, focuses on emergency services and aims to reduce response times. The Cavorite X7 can travel nearly twice as fast as traditional helicopters, promising quicker medevac and rescue operations. V-Star CEO Tony Laws highlighted the aircraft's speed as crucial in urgent situations.

Horizon Aircraft Co-Founder Brandon Robinson emphasized the X7's potential to transform emergency air services globally, presenting it as an operational and economical alternative to helicopters. This move marks a significant step towards modernizing emergency flight solutions in regional Australia.

R. H.

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