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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 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

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

Rhea-AI Summary
Surf Air Mobility Inc. (SRFM) and Azul S.A. (AZUL) 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. The agreement will help make it possible to upgrade Azul’s existing aircraft with fully electric powertrains once Surf Air Mobility’s proprietary technology is developed and certified. Surf Air Mobility’s first generation fully electric powertrain technology is targeted to reduce direct operating costs by as much as 50% and eliminate 100% of direct carbon emissions. These performance improvements can have profound impacts on how Azul operates its Cessna Caravan network.
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Surf Air Mobility Reports Revenue Growth In Third Quarter 2023 and Maintains Full Year Guidance

Rhea-AI Summary
Surf Air Mobility Inc. (NYSE: SRFM) reported third-quarter 2023 GAAP revenue of $21.9 million and Pro Forma Revenue of $28.9 million, up 6.2% year-over-year. The company is on track to meet its full-year 2023 guidance, with significant business highlights including a public listing on the NYSE, orders for 100 Cessna Grand Caravan EX aircraft, and a partnership with REGENT for all-electric Seaglider airships.
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Surf Air Mobility Files Form S-1 registration statement with the SEC registering up to 300 million shares of Common Stock

Rhea-AI Summary
Surf Air Mobility Inc. (NYSE: SRFM) has filed a Form S-1 registration statement with the SEC, registering up to 300 million shares of Common Stock, representing the balance of shares that could be issued and sold to GEM for $100 million of GEM Advances under the Share Subscription Facility. The company also has access to a total $400 million under the Share Subscription Facility with GEM, with $392.5 million remaining. Surf Air Mobility intends to utilize the registered shares to request advances under the share subscription facility and satisfy other current obligations to register shares previously issued to GEM.
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Surf Air Mobility to Provide Third Quarter 2023 Financial Results on November 14, 2023

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Surf Air Mobility Inc. (NYSE: SRFM) will release their Q3 2023 financial results on November 14, 2023, after market close. A webcast will be hosted at 5:00 pm ET on the same day, with a registration link available on the investor relations website. A replay of the call will be available online for 21 days.
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REGENT Announces Deal with Surf Air to Establish Seaglider Service in Miami

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REGENT partners with Surf Air Mobility to establish a seaglider base in Miami for passenger transport service in South Florida and the Caribbean.
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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 $3.31 as of December 20, 2024.

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

The market cap of Surf Air Mobility (SRFM) is approximately 47.8M.

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

SRFM Rankings

#4895 Ranked by Market Cap
N/A Ranked by Dividends

SRFM Stock Data

47.77M
12.37M
16.47%
41.21%
5%
Airlines
Air Transportation, Nonscheduled
Link
United States of America
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