This SA developed aircraft is set to transform the way we travel on business

Pegasus Universal Aerospace, a company based in South Africa, is making waves with its development of the Pegasus Vertical Business Jet. This innovative aircraft combines the benefits of helicopter aviation and traditional business jets, allowing it to take off and land vertically on any surface while offering the efficiency, speed, and range of a business jet. The project is not just a technological feat but also a unique investment opportunity for the public. Dr. Reza Mia, the chairman of Pegasus Universal Aerospace, recently sat down with CNBC Africa to shed light on the project and the public share sale offer that is currently open until June 18th. The company's goal is to bridge the gap between V-TOL and business jet aviation to create a versatile aircraft that can cater to the needs of both industries. The Pegasus Vertical Business Jet is capable of carrying seven passengers, including the pilot, and flying for up to six and a half hours at speeds of almost 800 kilometers per hour. This groundbreaking aircraft is set to revolutionize the way we travel for business, offering unprecedented flexibility and convenience to passengers. To accelerate the project's development, Pegasus Universal Aerospace has opened up a public share sale offer, allowing individuals to invest in the company at a fixed return of 12% per annum. Investors also have the opportunity to earn profits from the sale of the jets, with 10% of the profits being allocated to the development fund. The reception to the investment case has been positive, with many individuals showing interest and buying shares in the company. While the project is expected to cost between $200 and $300 million, the long-term potential for profitability and returns is promising. Dr. Mia emphasized the importance of viewing the investment as a long-term commitment, given the lead time required for certification and commercialization. Despite the challenges posed by COVID-19 and the aviation industry's recovery, the demand for private business jet use has increased globally. The Pegasus Vertical Business Jet addresses the limitations of traditional business jets by offering the ability to land in unconventional locations, such as game farms, helipads, yachts, and ships at sea. This unprecedented level of flexibility and convenience is expected to attract a niche market of business travelers looking to save time and enhance their travel experience. While there are risks associated with the project, including technical difficulties and potential delays, Dr. Mia remains confident in the aircraft's success and viability. With a focus on safety, quality, and innovation, Pegasus Universal Aerospace is poised to transform the business travel landscape with its Vertical Business Jet.