Hybrid electric aircraft are expected to enter the small regional aircraft market within the next two decades. The aim of this study was to investigate if a hybrid electric passenger aircraft with 50 seats can be competitive against the established 100 seat aircraft on short range scheduled flights. The Embraer EMB 145 and EMB 190 regional jets were chosen as benchmarks for that market. A hypothetical hybrid version of the EMB 145 with increased fuel efficiency was tested on a cost per available seat mile (CASM) basis. The t tests confirmed significant (p < 0.05) competitiveness of the hybrid version, while in contrast the conventional 50-seater was significantly more expensive compared to the 100seat aircraft. This indicates that hybrid aircraft could enter the short haul market with a competitive advantage, even against the established 100 seat regional jets.