Sarita Jha has joined XTI as its Chief Financial Officer. She brings decades of experience in private equity, corporate finance, and business development.
We’re positioning the company to expand operations as we approach 2021, and Sarita will make a significant contribution”
— XTI CEO Robert LaBelle
EINPresswire.com/ -- XTI Aircraft Company (XTI) announced that veteran financial advisor and business strategist Sarita Jha has joined XTI as its Chief Financial Officer, effective September 1, 2020. She joins XTI full-time after decades of experience in private equity, corporate finance (M&A and joint ventures), and business development.
“We couldn’t be more pleased to have Sarita join the executive team,” said Robert LaBelle, XTI’s Chief Executive Officer. “We’re positioning the company to expand operations as we approach 2021, and she will make a significant contribution to XTI’s financing activities, as well as the company’s structure and strategy, as we bring the TriFan 600 vertical takeoff airplane to the market.”
“I joined XTI”, said Ms. Jha, “because of the company’s extremely capable and experienced leadership team, because this aircraft is truly revolutionary, and because I think I can fill a need in the area of financing and strategic development that will help us reach our goals. I’m very excited to be here.”
“Sarita started out in her career as a Northrop Grumman engineer”, LaBelle added, So she understands aircraft and aerospace as well as manufacturing. Later she became a senior member of the business development team in a General Motors subsidiary. Then at UniCredit in London for ten years, Sarita was a senior member the team responsible for private equity investments totaling €1 billion (enterprise value). She also served on the board of Martur Automotive Seating Systems”, said LaBelle. “Sarita is an ideal fit for XTI. We’re looking to grow rapidly following the recent increase in our order book to 97 orders for the TriFan 600. That represents over $630 million in gross revenues upon delivery of those aircraft.”
Ms. Jha replaces Andrew Woglom as CFO, who will remain with XTI in a consulting capacity.
The TriFan is a major breakthrough in aviation and air travel. The company conducted successful hover tests and announced a collaboration with GE Aviation last year. The six-seat TriFan 600 will have the speed, range and comfort of a luxury business aircraft and the ability to take off and land vertically, like a helicopter. It will travel at 345 miles an hour, with a range of up to 1,400 miles. Using three ducted fans, the TriFan lifts off vertically. Its two wing fans then rotate forward for a seamless transition to cruise speed and its initial climb. It will reach 30,000 feet in just ten minutes and cruise to the destination as a highly efficient business aircraft.
“The market continues to recognize the value proposition of our unique and revolutionary airplane and its patented technology,” said LaBelle. “Vertical takeoff combined with long-range, the speed and comfort of a business aircraft, and our quieter and cleaner state-of-the-art hybrid-electric propulsion system.”
ABOUT XTI AIRCRAFT COMPANY
XTI Aircraft Company is a privately owned aviation business based near Denver, founded in 2013. XTI is guided by a leadership team with decades of experience, a deep well of expertise, and success bringing new aircraft to market. XTI is founded on a culture of customer-focused problem solving to meet the evolving needs of modern travelers.
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XTI Aircraft Company
Englewood, Colorado 80112
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