Welcome to our dedicated page for New Horizon Aircraft news (Ticker: HOVR), a resource for investors and traders seeking the latest updates and insights on New Horizon Aircraft stock.
New Horizon Aircraft Ltd. reports company developments tied to its work as an advanced aerospace company developing a hybrid-electric vertical takeoff and landing aircraft for regional air mobility. News commonly centers on the Cavorite X7 program, including engineering progress, prototype and full-scale aircraft development, projected operating characteristics, and the company’s intended markets among regional operators, emergency service providers, and military customers.
Coverage also includes financial and operating results, management presentations, industry-event participation, collaborations supporting aircraft development, and capital actions used to fund the Cavorite X7 program and general corporate purposes.
Horizon Aircraft (NASDAQ:HOVR) announced a Letter of Intent with V-Star Powered Lift Aviation, under which V-Star plans to purchase 5 Cavorite X7 hybrid-electric VTOL aircraft, with options for up to an additional 95 units, for a potential total of $600 million.
V-Star, an Australian operator focused on emergency, aeromedical, search and rescue, and regional transport missions, intends to secure delivery slots for the initial 5 aircraft with a firm deposit upon signing a definitive agreement. According to Horizon Aircraft, the Cavorite X7’s higher cruise speed versus helicopters is expected to support faster and more cost-efficient critical air services across Australia.
Horizon Aircraft (NASDAQ:HOVR) reported fiscal 2026 fourth quarter results and highlighted a strengthened balance sheet with $78.3 million in cash, which the company says provides more than 24 months of liquidity to complete its full-scale Cavorite X7 demonstrator and support certification and manufacturing efforts.
Horizon reported continued technical progress, with the first full-scale Cavorite X7 prototype on track to begin initial testing in the first quarter of calendar 2027. The company selected BETA Technologies' advanced fly-by-wire flight control computers for the Cavorite X7 and is advancing full-scale prototype development through manufacturing partnerships with RAMPF Composite Solutions for fuselage and empennage structures and North Aircraft Industries for its patented wing architecture.
Horizon expanded its leadership team by appointing Richard Alexander as Chief Engineer of Certified Programs and plans to grow headcount from 56 employees to over 100 by summer 2027. Management outlined upcoming milestones including subsystem integration, prototype build advancement, engineering organization expansion, and ongoing engagement with certification authorities and strategic suppliers.
BETA Technologies (NYSE:BETA) was selected by Horizon Aircraft to supply advanced flight control computers and customized software for the Cavorite X7 hybrid-electric VTOL aircraft. Horizon will integrate BETA’s fly-by-wire platform as it advances development, testing, and certification.
BETA’s in-house flight control computers are designed for powered-lift aircraft, support FAA Part 21.17(b), Part 23 and Part 25 certification pathways, and target Transport Canada and EASA frameworks. The DAL-A capable system offers safety-critical redundancy, lightweight hardware, and future integration of autonomous mission controls.
Horizon Aircraft (NASDAQ:HOVR) will release fiscal fourth quarter 2026 results on July 16, 2026, before market open. Management will host a webcasted earnings call at 8:30 a.m. ET to discuss results and provide a business update.
Investors can join via webcast or phone and may submit questions by July 10, 2026.
Horizon Aircraft (NASDAQ:HOVR) will participate in the Farnborough International Airshow 2026 from July 20-24, 2026. Senior leaders plan meetings with global aerospace and defence stakeholders to discuss the Cavorite X7, a dual-use hybrid eVTOL for time-critical commercial and defence missions.
The company will showcase the aircraft’s hybrid-electric architecture and patented fan-in-wing technology at Hall 4, Booth #4625 and join an eVTOL panel on July 23, 12:00–1:00 p.m. in Hall 3.
Horizon Aircraft (NASDAQ:HOVR) announced that partner Marshall Aerospace has completed a detailed flight dynamics and control model for the hybrid-electric VTOL Cavorite X7.
The 6-degrees-of-freedom model supports development of the X7’s safety-critical control system and its planned certification process.
Horizon Aircraft (NASDAQ:HOVR) has appointed veteran aerospace engineer Richard Alexander as Chief Engineer of Certified Programs as it advances its hybrid-electric eVTOL, the Cavorite X7. Alexander will work with Co-Founder Brian Robinson to support certification, engineering maturation, and commercialization of the aircraft’s distributed electric and conventional propulsion design.
New Horizon Aircraft (NASDAQ:HOVR) closed a registered direct offering of 9,960,160 Class A Ordinary Shares (or equivalents), generating approximately $25 million in gross proceeds. The company plans to use net proceeds to fully fund completion of its Cavorite X7 prototype and advance testing, certification and commercial production.
New Horizon Aircraft (NASDAQ:HOVR) entered a definitive agreement with institutional investors to sell 9,960,160 Class A Ordinary Shares (or equivalents), targeting approximately $25 million in gross proceeds. Closing is expected on or about May 27, 2026, subject to customary conditions.
According to Horizon Aircraft, net proceeds will be used to fully fund completion of the Cavorite X7 hybrid-electric VTOL prototype and advance it toward testing, certification and commercial production.
Horizon Aircraft (NASDAQ:HOVR) announced progress on the dual-use certification path for its hybrid-electric VTOL aircraft, the Cavorite X7, through its partnership with Flight Centre of Excellence, operating as Cert Center Canada (3C).
3C, Canada’s only independent flight test and certification DAO approved by Transport Canada, has helped integrate both military and civilian certification requirements into the aircraft’s initial design. This dual-use focus aligns with Canada’s Defence Industrial Strategy, which prioritizes procurement of Canadian aircraft and technologies for national security and sovereignty.