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Surf Air Mobility Inc. - SRFM STOCK NEWS

Welcome to our dedicated page for Surf Air Mobility news (Ticker: SRFM), a resource for investors and traders seeking the latest updates and insights on Surf Air Mobility stock.

Surf Air Mobility Inc. (SRFM) is a trailblazer in the field of regional air mobility, focusing on connecting communities sustainably through innovative electric aviation. Founded with a vision to revolutionize regional air travel, the company is dedicated to electrifying the skies and creating a more efficient and eco-friendly mode of air transportation.

As a pioneering electric aviation and air travel enterprise, Surf Air Mobility Inc. aims to expand the category of regional air travel by integrating advanced electric propulsion technologies into their fleet. Their operations are centered around the concept of a regional air mobility ecosystem, which ensures that smaller communities have enhanced connectivity options that are both sustainable and economically viable.

Among the company's core offerings are their air mobility services, which generate revenue by providing sustainable and efficient travel solutions. Surf Air Mobility Inc. is actively involved in numerous projects aimed at enhancing the electrification of air travel, including partnerships with leading technology firms and aviation pioneers to develop next-generation propulsion systems and infrastructure.

Recent achievements include successful pilot programs of electric aircraft and strategic collaborations to extend their service network. Financially, the company is backed by robust investment and strategic partnerships that provide a solid foundation for its ambitious growth plans.

In summary, Surf Air Mobility Inc. is at the forefront of transforming regional air travel, focusing on sustainability and innovative technologies to build a connected, greener future for air transportation. For detailed updates and the latest news about Surf Air Mobility Inc., investors and stakeholders can visit StockTitan for real-time information and developments.

News

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

Rhea-AI Summary
Surf Air Mobility Inc. (SRFM) reports full year 2023 GAAP revenue of $60.5 million, Pro Forma revenue of $112.9 million, and Pro Forma Adjusted EBITDA of $(50.9) million, achieving guidance. The company also announced Q1 2024 revenue outlook of $28.5-29.5 million and Pro Forma Adjusted EBITDA of $(17.0)-$(14.0) million.
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Surf Air Mobility Enters Agreement to Supply Electric Powertrains to Tanzanian Cessna Caravan Operator Auric Air

Rhea-AI Summary
Surf Air Mobility Inc. (NYSE: SRFM) partners with Auric Air Services to upgrade up to 12 Cessna Grand Caravan aircraft with electrified powertrains, aiming to reduce emissions and lower operating costs. Surf Air targets significant cost and environmental benefits with up to 50% cost reduction and 100% carbon emissions reduction for fully-electric powertrains.
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Surf Air Mobility to Provide Fourth Quarter and Full Year 2023 Financial Results on March 28, 2024

Rhea-AI Summary
Surf Air Mobility Inc. (SRFM) will release their Q4 2023 and full year 2023 financial results on March 28, 2024. A webcast will be hosted at 5:00 pm ET the same day, with a replay available online for 21 days. Interested parties can register in advance to listen to the webcast.
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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

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Surf Air Mobility (SRFM) and Electra.aero partner to introduce affordable and sustainable regional air travel using hybrid-electric eSTOL aircraft. Surf Air secures delivery positions for 90 Electra eSTOL planes, enhancing regional transportation access. Collaboration includes fleet-wide data analytics services and predictive analytics development to cut operating costs.
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Surf Air Mobility Enters Agreement to Supply Electric Powertrains to Kenya’s Largest Cessna Caravan Charter Operator Z.Boskovic Air Charters

Rhea-AI Summary
Surf Air Mobility (NYSE: SRFM) partners with Z.Boskovic Air Charters Ltd to electrify their fleet of 13 Cessna Caravans in Kenya, aiming to reduce direct emissions by up to 100%. This partnership follows similar agreements with other Kenyan air operators and aligns with Z.Boskovic's commitment to environmental protection. The electrified powertrains are expected to improve operational needs and contribute to Kenya's sustainability efforts.
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Surf Air Mobility and Williamsport, Pennsylvania Enter Agreement for Subsidized Commuter Air Service Between Williamsport Regional Airport (IPT) and Washington Dulles International Airport (IAD)

Rhea-AI Summary
Surf Air Mobility Inc. (NYSE: SRFM) and Williamsport Municipal Airport Authority have agreed to launch scheduled commuter air service between Williamsport Regional Airport and Washington Dulles International Airport in May 2024. The program aims to provide easier, faster, and more affordable connections through the local airport, with funding and services provided by Williamsport. The flights will be operated by Southern Airways Express, an airline subsidiary of Surf Air Mobility. The agreement resembles Surf Air Mobility’s Essential Air Service contracts, aiming to connect communities that lack access to minimal air service.
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Surf Air Mobility Enters Agreements to Supply Electric Powertrains to Major Kenyan Cessna Caravan Operators Safarilink and Yellow Wings

Rhea-AI Summary
Surf Air Mobility Inc. (NYSE: SRFM) partners with Safarilink and Yellow Wings Air Services Ltd. to electrify Cessna Grand Caravan aircraft, aiming to reduce direct operating costs by up to 50% and carbon emissions by 100%. The partnership aligns with the Kenyan government's goal of moving away from fossil fuels and toward renewable energy sources by 2030, positioning Safarilink and Yellow Wings as pioneers in sustainability and wildlife conservation efforts.
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Surf Air Mobility Enters into Binding Terms for a $35.2 Million Mandatory Convertible Debenture with GEM Global Yield LLC

Rhea-AI Summary
Surf Air Mobility Inc. (NYSE: SRFM) announced a binding term sheet with GEM for the potential issuance of a mandatory convertible debenture. The agreement includes the cancellation of certain shares of the Company’s common stock previously issued to GEM, volume restrictions on sales of shares related to the debenture, and an increase in the Company’s capacity under a $400 million Share Subscription Facility with GEM.
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Surf Air Mobility Announces Oliver Reeves as Chief Financial Officer

Rhea-AI Summary
Surf Air Mobility Inc. (NYSE: SRFM) announces the appointment of Oliver Reeves as the new Chief Financial Officer, succeeding Deanna White. Bryce Van has been promoted to Chief Accounting Officer. Deanna White will transition to a Senior Advisor role. The company aims to leverage Mr. Reeves' expertise in investment management, enterprise technology, and insurance industries to drive financial and capital market strategies.
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Surf Air Mobility and Purdue University Enter Agreement for Privately Subsidized Commuter Air Service Between West Lafayette / Purdue University Airport (LAF) and Chicago O’Hare Airport (ORD)

Rhea-AI Summary
Surf Air Mobility Inc. (NYSE: SRFM) and Purdue University have agreed to begin commuter air service between West Lafayette / Purdue University Airport and Chicago O’Hare Airport in early second quarter 2024. The flights will be operated by Southern Airways Express, a subsidiary of Surf Air Mobility, using Cessna Grand Caravan turboprop aircraft. The service aims to provide easier, faster connections for Purdue University's students, faculty, staff, and the local community to O’Hare Airport, with up to four daily flights planned.
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FAQ

What is the current stock price of Surf Air Mobility (SRFM)?

The current stock price of Surf Air Mobility (SRFM) is $3.15 as of March 3, 2025.

What is the market cap of Surf Air Mobility (SRFM)?

The market cap of Surf Air Mobility (SRFM) is approximately 57.1M.

What is Surf Air Mobility Inc.?

Surf Air Mobility Inc. (SRFM) is an electric aviation and air travel company focused on expanding regional air travel through sustainable, electric-powered flights.

What services does Surf Air Mobility Inc. provide?

Surf Air Mobility Inc. provides air mobility services aimed at connecting communities sustainably through advanced electric aviation technologies.

How does Surf Air Mobility Inc. generate revenue?

The company generates revenue through its air mobility services, offering efficient and sustainable travel solutions.

What recent achievements has Surf Air Mobility Inc. made?

Recent achievements include successful pilot programs of electric aircraft and strategic partnerships to extend their service network.

What is the core business of Surf Air Mobility Inc.?

The core business involves developing a regional air mobility ecosystem by electrifying air travel and connecting underserved communities sustainably.

Who are Surf Air Mobility Inc.’s partners?

Surf Air Mobility Inc. collaborates with leading technology firms and aviation pioneers to develop next-generation propulsion systems and infrastructure.

What is unique about Surf Air Mobility Inc.'s approach to air travel?

The company's unique approach includes integrating electric propulsion technologies into their fleet to offer sustainable and eco-friendly air travel solutions.

How is Surf Air Mobility Inc. contributing to sustainability?

Surf Air Mobility Inc. contributes to sustainability by focusing on electric aviation, reducing carbon emissions, and promoting eco-friendly regional air travel.

Where can I get the latest updates about Surf Air Mobility Inc.?

You can get the latest updates and news about Surf Air Mobility Inc. on StockTitan, which provides real-time information and developments.

What are the future plans of Surf Air Mobility Inc.?

Future plans include further electrification of their fleet, expansion of their regional air mobility network, and continued innovation in sustainable aviation technologies.
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Surf Air Mobility Inc.

NYSE:SRFM

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SRFM Stock Data

57.08M
14.58M
16.47%
41.21%
5%
Airlines
Air Transportation, Nonscheduled
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United States
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