XTI sells first TriFan 600 to São Paulo

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Florida VTOL manufacturer XTI Aircraft has sold the first XTI TriFan 600 to a Brazilian customer -- São Paulo business-jet operator Icon Aviation.

The hybrid-electric VTOL is expected to enter service in late 2022/2023. Now XTI has an order backlog of 64 TriFans, representing approximately $416 million in gross revenues upon delivery.

Icon is the largest private-jet company in South America, operating a combined fleet of helicopters and business jets. The XTI TriFan 600 will be the first VTOL to join Icon’s fleet.

Robert LaBelle, CEO of XTI said: “We’re very pleased to be working with Icon. It is a recognized business aviation company leader in Brazil and throughout South America, and is an ideal partner and customer for the TriFan aircraft.”

Most VTOL manufacturers are targeting the air-taxi or personal aviation market. XTI has a unique foothold and is pushing the aircraft as more of an alternative to private jets.

The manufacturer promises the TriFan 600 will offer speed, range and comfort similar to that of a business jet with the ability to take off and land vertically. Early specs show a max speed of 300 knots, a range of 1,200nm and a five-passenger configuration.

“In addition to the order and our agreement for the options,” said Décio Galvão, Icon Aviation’s CEO, “Icon and XTI have established a long-term relationship to collaborate on joint expansion of our respective businesses.

“As XTI nears the point in time when it will begin deliveries of the TriFan 600, Icon will incorporate this revolutionary airplane into its fleet. That means we will be offering our customers expanded services and unparalleled door-to-door convenience.”

XTI was first launched in 2012, as the brainchild of chairman David Brody and is now finding a market niche for the XTI TriFan 600 -- the ultra-high net worth individual.

The company is currently seeking accredited investors for its $25 million Series B round. It also announced back in March that it was planning to increase the price at which it is offering new shares by 50% from $1 to at least $1.50 upon approval.