10:55 AM EDT, 06/04/2024 (MT Newswires) -- XTI Aerospace ( XTIA ) said Tuesday its XTI Aircraft unit signed a letter of intent with AVX Aircraft to develop and design XTI Aircraft's TriFan 600 fixed-wing aircraft with vertical takeoff and landing options.

Financial terms weren't disclosed.

The definitive agreements are anticipated to be signed in the coming weeks, XTI added. The unit will offer management, direction, and oversight of the TriFan 600 program, while AVX will be the prime contractor.

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