MintAir and Jaunt Air Mobility Form Strategic Partnership and Sign eVTOL Letter of Intent for South Korean Advanced Air Mobility Market

INCHEON, South Korea & DALLAS & MONTREAL–(BUSINESS WIRE)–#aerospace–MintAir Co. LTD (“MintAir”) signed a Letter of Intent with Jaunt Air Mobility LLC (“Jaunt”) to form a strategic partnership and purchase Jaunt Journey electric vertical takeoff and landing (eVTOL) aircraft. MintAir has agreed to order up to 40 of Jaunt’s aircraft to bring air mobility services to the Korean markets. MintAir will serve as Jaunt�s exclusive Advanced Air Mobility (AAM) partner in the Korean market.

Jaunt is approaching the design and certification of an eVTOL from a unique market position utilizing Slowed Rotor Compound (SRC) technologies and partnerships with Tier 1 aerospace suppliers. “The Jaunt Journey’s aircraft design offers the safest air taxi configuration that is operationally efficient, quiet, and sustainable,” says Martin Peryea, CEO of Jaunt. Martin Peryea has more than 40 years of commercial aviation experience certifying rotorcraft.

MintAir is building an AAM service in the Republic of Korea and will work with Jaunt to launch commercial passenger air transportation operations in several Korean markets. MintAir intends to launch AAM services with a particular type of eVTOL design, electric rotorcraft with a single main rotor like the Jaunt Journey. Electric rotorcraft provide superior safety through autorotation, energy-saving efficiency, lower operating costs, and a clear path to certification.

“Our mission is to develop the safest Advanced Air Mobility service in both urban and rural environments based on sound ESG management,” quoted Eugene Choi, CEO of MintAir, and “Jaunt Air Mobility is committed to those same principles throughout the aircraft’s lifecycle. And we are confident the Jaunt Journey will transport the public with the highest level of safety.”

“We are pleased to team with MintAir to bring this new form of advanced air transportation to the Korean markets,” said Simon Briceno, Chief Commercial Officer for Jaunt. “We are excited to showcase our safe and efficient aircraft to the Korean public.”

Jaunt Air Mobility aircraft will be designed and manufactured in Montreal, Canada. President Eric Cote stated, “Canada is a global exporter of aerospace and with customers like MintAir, Jaunt is developing partnerships worldwide.”

About MintAir

MintAir is a startup company building an Advanced Air Mobility Service in South Korea. MintAir’s approach is to facilitate an ecosystem of partners to accelerate the adoption of electric flight in Korea. A former global engineering parts manufacturing company, MintAir will take advantage of its global business experience and network to accelerate the development of the Advanced Air Mobility ecosystem in Asia-Pacific markets. Beginning with air taxi operation, MintAir will specialize in electric rotorcraft with a large rotor common in a traditional helicopter. Electric rotorcraft provides superior safety under power loss situations through autorotation, energy saving better hover efficiency, lower operating cost, and a clear path to certification via existing regulations. For more information about the company, visit www.mintair.kr.

About Jaunt

Jaunt Air Mobility is a transformative aerospace company headquartered in Dallas, Texas, with design and manufacturing located in Montreal, Canada. Jaunt is building the next generation of eVTOL (electric Vertical Takeoff and Landing) and hybrid-electric VTOL aircraft for faster, quieter, and safer travel over urban areas, moving people and cargo. Jaunt is the global leader in developing Slowed Rotor Compound (SRC) technology. The Jaunt Journey is the world’s first electric aircraft combining helicopter and airplane flight capabilities. Jaunt has teamed with Tier 1 aerospace partners to develop the Journey and work with global operators to provide this new form of travel. Jaunt offers the most operationally efficient aircraft with a zero-carbon footprint. Jaunt is a recognized global brand of AIRO Group Holdings, Inc. (“AIRO”). AIRO is a mid-tier aerospace and defense company offering industry-leading technology and services in Electric Air Mobility, Advanced Avionics, Commercial Drones and Training uniquely capable of addressing a broad spectrum of aerospace markets. For more information, visit www.jauntairmobility.com and www.theairogroup.com.

Contacts

Nancy Richardson, Jaunt Air Mobility, nmrichardson@jauntairmobility.com

Jongwon “JP” Park, MintAir Co. LTD, jp@mintair.kr