Horizon Aircraft Secures $20M Cash, Cavorite X7 Assembly Scheduled for Late 2026
Horizon Aircraft held $20 million in cash at Q3 FY2026 end, securing runway for Cavorite X7 development through FY2027. Full-scale hybrid-electric Cavorite X7 assembly is on track for late 2026 with early 2027 flight tests, backed by RAMPF Composite, North Aircraft Industries and MHIRJ partnerships and $0.97 seat-mile costs.
1. Financial Position and Runway
Horizon Aircraft reported $20 million in cash at the end of Q3 FY2026, providing sufficient working capital to support aircraft development milestones through fiscal 2027.
2. Cavorite X7 Development Milestones
The company advanced its full-scale hybrid-electric Cavorite X7 from design to manufacturing, expecting assembly completion in late 2026 and flight testing to commence in early 2027.
3. Strategic Manufacturing Partnerships
Key partnerships include RAMPF Composite Solutions for fuselage production, North Aircraft Industries for wing manufacturing and structural testing, and collaboration with MHIRJ to accelerate the Cavorite X7 program.
4. Cost Efficiency and Operational Outlook
A validation put the Cavorite X7’s projected operating cost at $0.97 per available seat mile, while operational efficiency improved with lower admin costs and increased engineering investment, targeting a full-scale prototype by end of 2026.