Surf Air

Surf Air Mobility Receives Continued Listing Standard Notice from NYSE

Retrieved on: 
Friday, April 5, 2024
Transport, Other Transport, Surf Air, Common stock, Calendar, Surf

Surf Air Mobility Inc. (NYSE: SRFM) (“Surf Air Mobility”,“Surf Air”), a leading regional air mobility platform, today announced that on April 2, 2024 it received notice from the New York Stock Exchange (“NYSE”) that it is not in compliance with Section 802.01C of the NYSE Listed Company Manual because the average closing price of Surf Air’s Common Stock was less than $1.00 over a consecutive 30 trading-day period.

Key Points: 
  • Surf Air Mobility Inc. (NYSE: SRFM) (“Surf Air Mobility”,“Surf Air”), a leading regional air mobility platform, today announced that on April 2, 2024 it received notice from the New York Stock Exchange (“NYSE”) that it is not in compliance with Section 802.01C of the NYSE Listed Company Manual because the average closing price of Surf Air’s Common Stock was less than $1.00 over a consecutive 30 trading-day period.
  • The NYSE notice has no immediate impact on the listing of Surf Air’s Common Stock, and the Common Stock will continue to be listed and trade on the NYSE, subject to Surf Air’s compliance with other NYSE continued listing standards.
  • Surf Air plans to notify the NYSE within 10 business days that it intends to regain compliance with Rule 802.01C and cure the stock price deficiency.
  • The notice is not anticipated to impact the ongoing business operations of Surf Air and its subsidiaries or its reporting requirements with the U.S. Securities and Exchange Commission.

Surf Air Mobility Reports Financial Results for Fourth Quarter and Full Year Ended December 31, 2023

Retrieved on: 
Thursday, March 28, 2024
Air, Transport, Aerospace, Manufacturing, Aircraft, Microsoft, MOU, ROI, Southern Airways, Surf Air Mobility, Growth, Garmin, Partnership, Insurance, Cessna 208 Caravan, Auric Air, GAAP, Surf Air, Purdue University, Airline

Surf Air Mobility Inc. (NYSE: SRFM), a leading regional air mobility platform, today reported its fourth quarter and full year results.

Key Points: 
  • Surf Air Mobility Inc. (NYSE: SRFM), a leading regional air mobility platform, today reported its fourth quarter and full year results.
  • Please visit the Surf Air Mobility investor relations website at investors.surfair.com for more information and to listen to the accompanying earnings call at 5:00 pm eastern time.
  • Pro forma revenue of $27.4 million for fourth quarter 2023, compared to $27.7 million for the same period of the prior year.
  • Surf Air Mobility will provide full-year 2024 guidance at its Investor Day to be held on June 7, 2024, at the New York Stock Exchange.

Surf Air Mobility Enters Agreement to Supply Electric Powertrains to Tanzanian Cessna Caravan Operator Auric Air

Retrieved on: 
Friday, March 22, 2024
Environment, Air, Transport, Aerospace, Sustainability, Manufacturing, Green Technology, Transportation, Tourist Attractions, Travel, Surf Air Mobility, Caravan, Cessna 208 Caravan, Carbon, Auric Air, Surf Air, Aircraft, Atmosphere of Earth, Airline

Surf Air Mobility Inc. (NYSE: SRFM) (“Surf Air Mobility”, “Surf Air”), a leading regional air mobility platform, has entered into a memorandum of understanding with Auric Air Services Ltd. (“Auric Air”), a Tanzania-based regional air operator flying both scheduled and charter service across East Africa, to upgrade up to 12 of Auric Air’s Cessna Grand Caravan aircraft with Surf Air’s proprietary electrified powertrain technology once certified.

Key Points: 
  • Surf Air Mobility Inc. (NYSE: SRFM) (“Surf Air Mobility”, “Surf Air”), a leading regional air mobility platform, has entered into a memorandum of understanding with Auric Air Services Ltd. (“Auric Air”), a Tanzania-based regional air operator flying both scheduled and charter service across East Africa, to upgrade up to 12 of Auric Air’s Cessna Grand Caravan aircraft with Surf Air’s proprietary electrified powertrain technology once certified.
  • Surf Air now has approximately 13% of the Cessna Caravan market in Africa under agreement to upgrade to its electrified powertrains, once certified.
  • Surf Air is developing Supplemental Type Certifications for both hybrid and fully-electric variants of the Cessna Grand Caravan.
  • “It’s exciting to have Auric Air share our mission of reducing emissions through electrified aircraft,” said Stan Little, CEO of Surf Air Mobility.

Surf Air Mobility and Electra Enter Bilateral Agreement to Bring eSTOL Aircraft to Market, Incorporate Surf Air Technology into Joint Systems, and Create Leasing Partnership

Retrieved on: 
Thursday, February 15, 2024
Transportation, Environment, Travel, Green Technology, Air, Aerospace, Transport, Manufacturing, Aircraft, Surf, Atmosphere, Aviation, Textron Aviation, Advanced Air Mobility, Growth, Airport, Surf Air, Southern Airways Express, Business development, Caravan, Atmosphere of Earth, AAM, Mokulele Airlines, Surf Air Mobility, Cessna 208 Caravan, Airline

Surf Air Mobility Inc. (NYSE: SRFM) (“Surf Air Mobility”, “Surf Air”), a leading green regional air mobility platform, and Electra.aero Inc. (“Electra”), a next-gen aerospace company, have joined forces to introduce affordable, sustainable, and easily accessible regional air travel to a broad customer base leveraging Electra’s hybrid-electric short takeoff and landing (eSTOL) aircraft on Surf Air’s technology-driven, on-demand air mobility platform, and through Surf Air’s Aircraft-as-a-Service (ACaaS) offering to air operators.

Key Points: 
  • Surf Air Mobility Inc. (NYSE: SRFM) (“Surf Air Mobility”, “Surf Air”), a leading green regional air mobility platform, and Electra.aero Inc. (“Electra”), a next-gen aerospace company, have joined forces to introduce affordable, sustainable, and easily accessible regional air travel to a broad customer base leveraging Electra’s hybrid-electric short takeoff and landing (eSTOL) aircraft on Surf Air’s technology-driven, on-demand air mobility platform, and through Surf Air’s Aircraft-as-a-Service (ACaaS) offering to air operators.
  • The agreement between Surf Air and Electra highlights several key points of collaboration:
    Surf Air, its data services partner(s), and Electra will collaborate on the development of predictive analytics systems to reduce overall operating costs and streamline operations.
  • “Electra stands out as one of the early market leaders in regional air mobility, and we’re excited to bring them onto our platform.
  • “Through our air mobility platform and our Aircraft-as-a-Service program, we believe we can accelerate Electra’s eSTOL aircraft time to market.”

Surf Air Mobility Enters Agreement to Supply Electric Powertrains to Kenya’s Largest Cessna Caravan Charter Operator Z.Boskovic Air Charters

Retrieved on: 
Wednesday, January 17, 2024
Air, Environment, Transport, Aerospace, Manufacturing, Green Technology, Noise, Cessna 208 Caravan, Partnership, Atmosphere of Earth, Surf Air Mobility, Surf Air, Surf, Carbon, Travel, Caravan, Atmosphere, Rail transport

Z.Boskovic currently operates 13 Cessna Caravan, making them Kenya’s largest charter operator of Cessna Caravan, and intends to add two additional Caravan aircraft to their fleet by the end of 2024.

Key Points: 
  • Z.Boskovic currently operates 13 Cessna Caravan, making them Kenya’s largest charter operator of Cessna Caravan, and intends to add two additional Caravan aircraft to their fleet by the end of 2024.
  • Surf Air’s fully electric and hybrid electric powertrains are targeted to reduce direct emissions by 100% and up to 50%, respectively.
  • As a top safari air operator in Kenya, Z.Boskovic’s commitment to environmental protection is at the core of their business.
  • As such, Surf Air believes its fully electric and hybrid electric aircraft variants will meet Z.Boskovic’s operational needs.

Surf Air Mobility and Williamsport, Pennsylvania Enter Agreement for Subsidized Commuter Air Service Between Williamsport Regional Airport (IPT) and Washington Dulles International Airport (IAD)

Retrieved on: 
Monday, January 8, 2024
Air, Environment, Transport, Aerospace, Manufacturing, Green Technology, Dulles International Airport, Travel, IPT, Airport, Cessna 208 Caravan, Surf Air Mobility, Atmosphere of Earth, Mokulele Airlines, Surf Air, American Airlines, Southern Airways Express, United Airlines, Essential Air Service, Purdue University, Air travel, Alaska Airlines, Aircraft, IAD, Williamsport Regional Airport, EAS, Airline

Surf Air Mobility Inc. (NYSE: SRFM) (“Surf Air Mobility”, “Surf Air”), a company that aims to transform regional flying through electrification, and the Williamsport Municipal Airport Authority of Williamsport, Pennsylvania have agreed to launch scheduled commuter air service between Williamsport Regional Airport (IPT) and Washington Dulles International Airport (IAD) with a target start date in May 2024.

Key Points: 
  • Surf Air Mobility Inc. (NYSE: SRFM) (“Surf Air Mobility”, “Surf Air”), a company that aims to transform regional flying through electrification, and the Williamsport Municipal Airport Authority of Williamsport, Pennsylvania have agreed to launch scheduled commuter air service between Williamsport Regional Airport (IPT) and Washington Dulles International Airport (IAD) with a target start date in May 2024.
  • The flights will be operated by Southern Airways Express (“Southern”), an airline subsidiary of Surf Air Mobility.
  • These agreements resemble Surf Air Mobility’s numerous Essential Air Service contracts which provide federal subsidies to connect communities which would otherwise lack access to minimal air service.
  • Surf Air Mobility, with its Southern Airways and Mokulele Airlines subsidiaries, is the largest commuter airline in the U.S. by scheduled departures.

Surf Air Mobility Enters Agreements to Supply Electric Powertrains to Major Kenyan Cessna Caravan Operators Safarilink and Yellow Wings

Retrieved on: 
Thursday, January 4, 2024
Engineering, Air, Environment, Aerospace, Transport, Manufacturing, Green Technology, Atmosphere, Ecosystem, Travel, Partnership, Economics, Cessna 208 Caravan, Movement, Surf Air Mobility, Atmosphere of Earth, Surf Air, Aircraft, Air travel, Business development, Noise, Carbon, Aviation, Climate

This partnership marks another milestone as Surf Air Mobility seeks to expand its global footprint while leading the energy transition to electrified, green aviation.

Key Points: 
  • This partnership marks another milestone as Surf Air Mobility seeks to expand its global footprint while leading the energy transition to electrified, green aviation.
  • Surf Air is developing the Supplemental Type Certification for both hybrid and fully-electric variants of the Cessna Grand Caravan.
  • “The Caravan is an amazing aircraft on which to develop our electrified powertrain, and we believe Safarilink and Yellow Wings’ operations are perfectly suited to demonstrate the benefits of our technology,” said Stan Little, CEO of Surf Air Mobility.
  • “Upgrading Safarilink’s and Yellow Wings' Caravan fleet with our electrified powertrains unlocks new possibilities.

Surf Air Mobility Announces Oliver Reeves as Chief Financial Officer

Retrieved on: 
Wednesday, December 27, 2023
Air, Technology, Transport, Logistics, Supply Chain Management, Software, Hardware, UnixWare, Senior advisor, CFO, OpenServer, Surf Air Mobility, Surf Air, MBA, Air travel, Controller, Columbia Business School, Growth, Aviation, Babson College, Senior, Management

Surf Air Mobility Inc. (NYSE: SRFM), the air mobility platform transforming regional flying through electrification, today announced that Oliver Reeves will join the Company as Chief Financial Officer.

Key Points: 
  • Surf Air Mobility Inc. (NYSE: SRFM), the air mobility platform transforming regional flying through electrification, today announced that Oliver Reeves will join the Company as Chief Financial Officer.
  • Mr. Reeves recently worked at Xinuos, Inc., where he served as the Chief Strategy Officer since 2019.
  • “We are very pleased to have Oliver join us on our journey to electrify regional air mobility,” said Stan Little, CEO of Surf Air Mobility.
  • Ms. White, who joined Surf Air Mobility in 2021 to help take the company through its public listing, will become a Senior Advisor to both Surf Air Mobility and the Surf Air Board of Directors.

Surf Air Mobility and Azul Conecta Enter Agreement to Incorporate Electric Powertrains into Azul’s Cessna Caravan Fleet

Retrieved on: 
Monday, November 27, 2023
Air, Transport, Aerospace, Manufacturing, Transportation, Travel, Surf Air Mobility, Carbon, Economics, NYSE, Business development, Surf Air, Cessna 208 Caravan, Azul Conecta, Partnership, Aircraft, Certification, Supplemental type certificate, Airline

Surf Air Mobility Inc. (NYSE: SRFM) (“Surf Air Mobility”), the air mobility platform transforming regional flying through electrification, and Azul S.A. (B3: AZUL4, NYSE: AZUL) (“Azul”), the largest airline in Brazil, have agreed to collaborate on the commercial deployment of electric Cessna Caravan within Azul’s existing fleet.

Key Points: 
  • Surf Air Mobility Inc. (NYSE: SRFM) (“Surf Air Mobility”), the air mobility platform transforming regional flying through electrification, and Azul S.A. (B3: AZUL4, NYSE: AZUL) (“Azul”), the largest airline in Brazil, have agreed to collaborate on the commercial deployment of electric Cessna Caravan within Azul’s existing fleet.
  • By electrifying its Cessna Caravan fleet, Azul believes they can take a meaningful step toward their goal of net-zero carbon emissions by 2045.
  • Surf Air Mobility is targeting certification of its proprietary electrified powertrain in 2026 in the U.S.
  • In doing so, Azul and Surf Air Mobility hope to be a catalyst for change within South America and global leaders in regional air mobility (“RAM”).

Surf Air Mobility Reports Revenue Growth In Third Quarter 2023 and Maintains Full Year Guidance

Retrieved on: 
Tuesday, November 14, 2023
Automotive, Air, Transport, Alternative Energy, Energy, Alternative Vehicles, Fuels, EBITDA, Surf Air Mobility, Acquisition, NYSE, Engineering, Bank statement, Surf Air, Marketing, G&A, GAAP, Partnership, Growth, Textron Aviation, Form 10-Q, Airline, Reinsurance, Sales, The Bahamas, Southern Airways

Surf Air Mobility Inc. (NYSE: SRFM) (“Surf Air”), the air mobility platform transforming regional flying through electrification, today reported its third quarter results and announced that it remains on track to meet its full year 2023 guidance.

Key Points: 
  • Surf Air Mobility Inc. (NYSE: SRFM) (“Surf Air”), the air mobility platform transforming regional flying through electrification, today reported its third quarter results and announced that it remains on track to meet its full year 2023 guidance.
  • Please visit the Surf Air Mobility investor relations website at investors.surfair.com for more information and to listen to the accompanying earnings call.
  • Finalized our exclusive sales and marketing agreement with Textron Aviation that Surf Air anticipates will activate a viable channel to significant market share with our electrified powertrains.
  • GAAP Revenue, which assumes operating results for Surf Air for the full year 2023 period and Southern for the period July 28, 2023 through December 31, 2023, in the range of $54.5 million to $59.5 million.