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. (NYSE: SRFM) is a Los Angeles-based regional air mobility platform that combines commuter airline operations, on demand charter services, and aviation technology development. News about Surf Air Mobility frequently highlights its role as one of the largest commuter airlines in the U.S. by scheduled departures and the largest U.S. passenger operator of Cessna Caravans, alongside updates on its AI-enabled software and electrification initiatives.
Investors and industry followers can use this news feed to track company announcements on financial performance, capital structure, and technology milestones. Recent press releases have covered quarterly financial results, guidance updates, and the company’s progress under its stated Transformation Plan, including changes in revenue mix between scheduled service and on demand operations and adjustments to unprofitable routes. Coverage also includes capital raising transactions, such as registered direct offerings, senior secured convertible notes, and equity issuances to strategic partners.
Technology-focused updates are another key component of Surf Air Mobility news. The company regularly reports on the development of SurfOS, its AI-enabled software platform powered by Palantir’s Foundry and AIP, including internal adoption metrics, new features, and plans for commercial rollout. News items also describe the expansion of Surf Air Mobility’s partnership with Palantir, multi-year software licensing agreements, and exclusivity arrangements for the Part 135 regional air mobility market.
Readers can also find announcements about corporate governance, board appointments, investor conference presentations, and electrification programs related to the Cessna Caravan. For anyone following SRFM, this page provides a centralized view of the company’s operational updates, software and electrification progress, financing activities, and strategic partnerships within the regional air mobility space.
Surf Air Mobility (NYSE: SRFM) has announced a $5 million registered direct offering of common stock, pricing 2,000,000 shares at $2.50 per share. The offering includes options for pre-funded warrants in lieu of common stock.
The transaction, expected to close around April 1, 2025, is being facilitated by H.C. Wainwright & Co. as the exclusive placement agent. The company plans to use the net proceeds to reduce certain debt obligations and for general corporate purposes.
The offering is being conducted under a previously filed shelf registration statement on Form S-3, which was declared effective by the SEC on March 26, 2025.
Surf Air Mobility Inc. (NYSE: SRFM) has received coverage initiation from Stonegate Capital Partners. The company reported strong financial results with revenue of $28.0M, adjusted EBITDA of ($6.9M), and adjusted EPS of $1.27.
Notable achievements include exceeding both revenue and EBITDA guidance, driven by significant growth in On Demand service revenue, which increased 39% over Q4 2023 and 28% for FY24 compared to FY23. The company has transitioned from its Transformation Phase to the Optimization Phase, focusing on improving profitability through strategic cost reductions.
Additionally, SRFM secured a $50.0M term loan and extended its secured debt maturity. The company also obtained MOUs from seven customers for the upgrade of approximately 100 aircraft.
Surf Air Mobility (NYSE: SRFM) reported its Q4 and full-year 2024 financial results, showing mixed performance. Q4 revenue increased 5% to $28.05 million, while full-year revenue grew 6% to $119.4 million.
The company achieved a notable turnaround in Q4, posting a net income of $1.3 million, compared to a $111.0 million loss in the previous year. The Q4 Adjusted EBITDA loss improved by 63% to $6.9 million. For the full year, net loss improved by 70% to $74.9 million.
Key developments include securing a $50 million term loan, reducing liabilities by over $42 million, and exiting unprofitable routes saving $4.6 million annually. The company launched SurfOS with six beta users and continues progress on its electrification project with plans for Cessna Caravan certification in 2027.
For 2025, Surf Air expects Q1 revenue between $21-24 million and projects full-year revenues to exceed $100 million, with airline operations targeted to achieve profitability.
Surf Air Mobility (NYSE: SRFM), a regional air mobility platform, has scheduled the release of its fourth quarter and year end 2024 financial results for March 18, 2025, after market close. The company will host a webcast at 5:00 pm ET on the same day.
Interested parties can participate through advance registration for the webcast or access it through the company's investor relations website's 'Events & Presentations' section. Additionally, participants can join via phone using the toll-free number (800) 715-9871 for North America or (646) 307-1963 for international calls, with Conference ID: 4775356.
Surf Air Mobility (NYSE: SRFM) has announced agreements with six air operator beta customers for its new SurfOS platform, an AI-enabled operating system for the Advanced Air Mobility industry powered by Palantir Technologies.
The software platform aims to enhance efficiency, reduce costs, and boost productivity across the advanced air mobility sector. Launch customers will receive access to customized tools for charter flight distribution, customer relationship management, and flight pricing optimization, along with direct-to-consumer flight distribution capabilities.
Recent SurfOS feature rollouts include AI-based charter broker tools, direct integrations with supply partners, resource planning systems, business intelligence dashboards, and multi-lingual marketplace capabilities. The company plans to establish Surf Air Technologies, a new venture focused on developing and marketing SurfOS to thousands of Part 135 regional air operators.
Surf Air Mobility (NYSE: SRFM) has announced two strategic appointments to strengthen its aviation leadership team. Bob Waltz will join as Vice President of Flight Operations (effective March 1, 2025), while Linda MacAskill will serve as Director of System Operations Center (effective December 1, 2024).
Both executives will be based at Surf Air's new air operations center (AOC) in Addison, TX, where the company is actively recruiting for various positions including Maintenance, Safety & Regulatory Compliance, Finance & Accounting, and Operations. According to CEO and COO Deanna White, these appointments align with the second phase of their Transformation Plan - Optimization, aimed at achieving profitability in air operations this year.
Surf Air Mobility (NYSE: SRFM) has announced the relocation of its Air Operations Center (AOC) to Addison, Texas, a Dallas suburb. This strategic move is part of the company's broader Transformation Plan that aims to consolidate operations departments and position Surf Air within one of America's major aviation hubs.
The company is actively recruiting aviation professionals in the Dallas metro area across multiple departments, including Maintenance, Safety & Regulatory Compliance, Finance & Accounting, and Operations. This relocation leverages Dallas's vibrant aviation ecosystem and skilled talent pool to support Surf Air's mission of transforming regional flying.
According to Deanna White, CEO and COO, the move "reflects our commitment to excellence in the aviation industry" and represents "another achievement within our Transformation Plan." The company expects this centralization to streamline business operations and help bring its air operations to profitability in 2025, defined as positive Adjusted EBITDA. Surf Air will maintain its offices in Hawthorne, CA.
Surf Air Mobility (NYSE: SRFM) has released its second video presentation detailing the company's business plan and operations, specifically focusing on its Air Mobility business strategy. The presentation, narrated by CEO and COO Deanna White, outlines the company's path to achieve profitable airline operations by 2025, as measured by Adjusted EBITDA.
White, who was appointed CEO on December 10, 2024, previously served as the company's CFO since 2022. She brings significant aviation industry experience, having served as COO at Kitty Hawk, where she led eVTOL aircraft program operations, and as CEO and CFO at Bombardier Flexjet. The presentation highlights the company's Transformation Plan, which is now entering its second phase, Optimization.
Surf Air Mobility (NYSE: SRFM), a regional air mobility platform, has released its first video presentation in a new series focusing on the company's business plan and operations. The presentation, narrated by CFO Oliver Reeves, details the company's Transformation Plan and growth opportunities across its Air Mobility and Air Technology business segments. The video is available on the company's investor website.
Surf Air Mobility (NYSE: SRFM) announced significant insider stock purchases by board members. Chairman Carl Albert acquired 14,500 shares and Co-Founder Sudhin Shahani purchased 17,237 shares, totaling 31,737 shares for approximately $110,000 in open market transactions.
The purchases align with the company's Transformation Plan, which includes goals to increase shareholder value and achieve profitability in airline operations by fiscal year 2025. The company is focusing on developing and implementing its SurfOS software to enhance operational efficiency.
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