Economic and Environmental Assessment of Hybrid-Electric Commuter Aircraft: A Business Case for the Spanish Seaplane Market

This study assesses the economic feasibility of an 18-seat hybrid-electric seaplane operating on the Valencia–Palma de Mallorca route and compares its performance with a conventional Twin Otter–class aircraft. A Total Cost of Ownership framework is applied, combining mission-based energy modeling with detailed estimates of Direct Operating Costs (DOC), capital expenses, and battery replacement requirements. A 15-year financial analysis evaluates Net Present Value (NPV), Internal Rate of Return (IRR), and Payback Period. Results show that hybrid-electric propulsion significantly reduces fuel use and CO2 emissions but introduces higher ownership costs and additional maintenance items, yielding a DOC comparable to the conventional configuration. Despite higher revenue potential, the hybrid-electric design exhibits lower NPV and IRR due to increased capital intensity. Sensitivity analyses indicate strong improvements under reduced battery costs, higher kerosene prices, or policy incentives for low-emission aircraft. Overall, hybrid-electric seaplanes demonstrate promising long-term potential, contingent on technological maturation and supportive regulatory frameworks.