XTI Aerospace secures major order from Mesa Air Group

XTI Aerospace has released that Mesa Air Group (Mesa), the holding company of regional air carrier Mesa Airlines, is the purchaser under a previously disclosed conditional purchase order with XTI Aircraft Company (XTI), a wholly owned subsidiary of XTI Aerospace, for up to 100 TriFan 600 aircraft. The TriFan 600 is a fixed-wing, vertical lift crossover airplane (VLCA), currently in development. If all conditions are met and the order is fully exercised, it could represent up to approximately US$1 billion in revenue for XTI Aerospace.

XTI Aerospace also announced that Mesa is an investor in XTI Aerospace, holding warrants and a minority stake in common stock shares. Jonathan Ornstein, Chairman and Chief Executive Officer of Mesa Air Group, stated,