Horizon Aircraft Signs LOI with Great Lakes Helicopter for Cavorite X7 Maintenance and Pilot Training

TORONTO, ON / ACCESS Newswire / September 29, 2026 / New Horizon Aircraft Ltd. ("Horizon Aircraft" or the "Company") (NASDAQ:HOVR), a Canadian aerospace company developing one of the first hybrid-electric Vertical Take-off and Landing (VTOL) aircraft, today announced it has signed a Letter of Intent ("LOI") with Great Lakes Helicopter ("GLH"),an Ontario-based helicopter operator, MRO service provider, and pilot school. Under the LOI, GLH intends to provide maintenance, repair and overhaul (MRO) services for Horizon Aircraft's Cavorite X7 aircraft and facilitate pilot training programs to support future X7 operators. In addition, GLH intends to purchase a number of Cavorite X7 aircraft. Chad McIntosh, Managing Director of Great Lakes Helicopter stated, "At Great Lakes Helicopter, our vision extends beyond operating aircraft. We're a flight school and operator building the training, maintenance, and operational infrastructure to support our operations and the clients we serve today - and this partnership with Horizon Aircraft is a natural extension of that work."