HOVR

EX-99.1

2 ea029810101ex99-1.htm

PRESS RELEASE, DATED JULY 16, 2026

Exhibit 99.1

Horizon Aircraft Reports Fiscal 2026 Fourth Quarter Results, Strengthens Balance Sheet to $78.3 Million, and Advances Full-Scale Cavorite X7 Development

TORONTO, July 16, 2026 - New Horizon Aircraft Ltd. (“Horizon Aircraft” or the “Company”) (NASDAQ: HOVR), an advanced aerospace company developing one of the first hybrid-electric Vertical Takeoff and Landing (VTOL) aircraft, today reported its financial and operational results for the fourth quarter of fiscal 2026 ending May 31, 2026.

Recent Highlights:

●Strengthened balance sheet with $78.3 million in cash providing more than 24 months of liquidity to complete the full-scale demonstrator aircraft assembly and advance certification and manufacturing efforts;

●Technical progress toward the full-scale aircraft continues, with the first full-scale prototype on track to begin initial testing in the first quarter of calendar 2027;

●BETA Technologies’ advanced flight control computers will be used on the Cavorite X7. Through this partnership, BETA’s fly-by-wire (FBW) platform will provide precision, stability, safety and efficiency as the Company advances aircraft development, testing, and certification activities;

●Full-scale prototype development continues to advance through strategic manufacturing partnerships with RAMPF Composite Solutions for the main fuselage and empennage structures, and North Aircraft Industries for Horizon Aircraft’s patented wing architecture;

●Bolstered the leadership team with the appointment of Richard Alexander as Chief Engineer of Certified Programs and continued scaling engineering and certification capabilities. Headcount is expected to increase from 56 employees today to over 100 by summer 2027.

“This year marked a transformational period in which Horizon Aircraft moved from technology validation to full-scale aircraft development,” said Brandon Robinson, Co-Founder and CEO of Horizon Aircraft. “With our strong balance sheet, increasing strategic partnerships, and a technical team that is executing our development roadmap, I couldn’t be happier about the future.”

Management expects key upcoming milestones to include continued subsystem integration, advancement of the full-scale prototype build, expansion of the engineering organization, and ongoing engagement with certification authorities and strategic suppliers.

For more information, visit Horizon Aircraft’s website or watch its innovative technology in action on the Company’s YouTube channel. Information on Horizon Aircraft’s website does not constitute a part of and is not incorporated by reference into this press release.

1

Webcasted Earnings Call

New Horizon Aircraft will host a webcast and conference call on Thursday, July 16, 2026 at 8:30 a.m. Eastern Time to discuss its financial results and provide a business update. The webcast will feature a video presentation by Horizon Aircraft CEO Brandon Robinson and CFO Brian Merker, accompanied by supporting visual content.

Guests can join the live webcast on Horizon Aircraft’s investor relations website at https://ir.horizonaircraft.com/events-presentations or access an audio-only version by telephone at 888-506-0062 from North America and at 973-528-0011 from international numbers (Access Code: 442619). An archive of the earnings call will be available shortly after the call.

About Horizon Aircraft

Horizon Aircraft (NASDAQ: HOVR) is an advanced aerospace company that is developing one of the world’s first hybrid-electric VTOL (Vertical Take-Off and Landing) aircraft designed to fly most of its mission in traditional wing-borne flight, offering industry-leading speed, range, and operational utility. Horizon Aircraft’s unique designs put the mission first and prioritize safety and performance. Upon successful completion of testing and certification of its full-scale aircraft, Horizon Aircraft intends to scale unit production to meet expected demand from regional aircraft operators, emergency service providers, and military customers.

For further information, visit:

Website www.horizonaircraft.com

LinkedIn https://www.linkedin.com/company/horizon-aircraft-inc

For further information, contact:

Investors:

Kathryn Burns

ir@horizonaircraft.com

Media:

Edwina Frawley-Gangahar

EFG Media Relations

+44 7580 174672

edwina@efgmediarelations.com

2

Forward-Looking Statements

This press release contains certain “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”). These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “aim,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “target,” “will be,” “will cont

EX-99.1

2 ea028543801ex99-1.htm

PRESS RELEASE, DATED APRIL 14, 2026

Exhibit 99.1

Horizon Aircraft Reports Results for Third Quarter of Fiscal Year 2026 and Provides Business Update

TORONTO, April 14, 2026 - New Horizon Aircraft Ltd. (“Horizon Aircraft” or the “Company”) (NASDAQ: HOVR), an advanced aerospace company developing one of the first hybrid-electric Vertical Takeoff and Landing (VTOL) aircraft, today reported its financial and operational results for the third quarter of fiscal 2026 ended February 28, 2026.

Recent Highlights:

●Continued strong liquidity with $20 million in cash, including what the Company expects is sufficient working capital to get through planned aircraft development milestones through fiscal 2027;

●Advancing the full-scale hybrid-electric Cavorite X7 aircraft (the “Cavorite X7”) from concept to reality; the Company expects to complete assembly later in 2026 with flight testing to commence in early 2027;

●Significant manufacturing partnerships established with world class organizations including RAMPF Composite Solutions (fuselage production) and North Aircraft Industries (wing manufacturing and structural testing);

●Commenced important collaboration with MHIRJ, a subsidiary of Mitsubishi Heavy Industries Ltd., to accelerate the Cavorite X7 manufacturing program through its highly specialized engineering support team;

●Comprehensive evaluation performed by a globally recognized accounting firm validating the Cavorite X7’s projected operating cost of US$0.97 per available seat mile, which would significantly improve the economic performance for aircraft operators currently operating legacy helicopters and compares favorably to other aircraft in the Advanced Air Mobility space;

● Significantly improved operational efficiency, reflected in lower administrative costs relative to increased engineering expenses as the full-scale aircraft production advances.

Brandon Robinson, Co-Founder and CEO of Horizon Aircraft, commented, “This quarter marked a major inflection point as the Cavorite X7 aircraft transitioned from the design phase into manufacturing. With strong strategic partnerships and collaborations, growing technical capabilities, and solid liquidity, we are confidently tracking to complete our full-scale prototype by the end of 2026.”

For more information, visit Horizon Aircraft’s website or watch its innovative technology in action on the Company’s YouTube channel.

Conference Call

New Horizon Aircraft will host a conference call on Tuesday, April 14, 2026, at 8:30 a.m. Eastern Time to review its financial and operational results. Participants may access the call by telephone at 888-506-0062 from North America and at 973-528-0011 from international numbers (Access Code: 835351) or by joining the live webcast on the Company’s investor relations website at https://ir.horizonaircraft.com/events-presentations. A replay of the webcast will be available shortly after the call.

About Horizon Aircraft

Horizon Aircraft (NASDAQ: HOVR) is an advanced aerospace company that is developing one of the world’s first hybrid-electric VTOL (Vertical Take-Off and Landing) aircraft designed to fly most of its mission in traditional wing-borne flight, offering industry-leading speed, range, and operational utility. Horizon Aircraft’s unique designs put the mission first and prioritize safety and performance. Upon successful completion of testing and certification of its full-scale aircraft, Horizon Aircraft intends to scale unit production to meet expected demand from regional aircraft operators, emergency service providers, and military customers.

For further information, visit:

Website www.horizonaircraft.com

LinkedIn https://www.linkedin.com/company/horizon-aircraft-inc

For further information, contact:

Investors:

Kathryn Burns

ir@horizonaircraft.com

Media:

Edwina Frawley-Gangahar

EFG Media Relations

+44 7580 174672

edwina@efgmediarelations.com

Forward-Looking Statements

This press release contains certain “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”). These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “aim,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “target,” “will be,” “will continue,” “will likely result” and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements herein include, but are not limited to, statements relating to the targeted readiness of the full-scale hybrid Cavorite X7 eVTOL demonstrator aircraft for initial testing, development priorities and technical milestones; the Cavorite X7’s design specifications, anticipated operation