• 05 Mar 2025 09:12 AM
• 0

Horizon Secures Investment, Aircraft Leases

On Dec. 20, Canada-based Horizon Aircraft announced that it had secured $8.4M in funds from an unnamed strategic investor to continue development of its hybrid-electric Cavorite X7 aircraft. Horizon announced in January a letter of intent (LOI) with helicopter operator Discovery Air Chile to lease five X7 aircraft. India’s JetSetGo also signed a LOI to purchase 50 Horizon X7s. The company has been flying its half-scale demonstrator untethered since May 2024 and began wing-borne transition testing in November.