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Surf Air Mobility (NYSE: SRFM) has unveiled its four-phase Transformation Plan alongside a new investor presentation. The company secured a $50 million term loan, marking the completion of the plan's first phase. According to Interim CEO & COO Deanna White, the company is now entering the Optimization phase and expects to achieve profitability in its airline operations by 2025. The detailed plan and presentation are available on the company's investor website.
Surf Air Mobility (NYSE: SRFM) ha presentato il suo Piano di Trasformazione in quattro fasi insieme a una nuova presentazione per gli investitori. L'azienda ha ottenuto un prestito a termine di 50 milioni di dollari, segnando il completamento della prima fase del piano. Secondo l'Amministratore Delegato e COO ad interim Deanna White, l'azienda sta ora entrando nella fase di Ottimizzazione e si aspetta di raggiungere la redditività nelle sue operazioni aeree entro il 2025. Il piano dettagliato e la presentazione sono disponibili sul sito web per gli investitori dell'azienda.
Surf Air Mobility (NYSE: SRFM) ha revelado su Plan de Transformación en cuatro fases junto con una nueva presentación para inversores. La compañía ha asegurado un préstamo a plazo de 50 millones de dólares, marcando la finalización de la primera fase del plan. Según la CEO interina y COO Deanna White, la empresa está ingresando ahora en la fase de Optimización y espera lograr rentabilidad en sus operaciones aéreas para 2025. El plan detallado y la presentación están disponibles en el sitio web para inversores de la empresa.
서프 에어 모빌리티 (NYSE: SRFM)는 새로운 투자자 발표와 함께 4단계 변혁 계획을 공개했습니다. 이 회사는 5000만 달러의 대출을 확보했으며, 이는 계획의 첫 번째 단계 완료를 의미합니다. 임시 CEO이자 COO인 디안나 화이트에 따르면, 회사는 이제 최적화 단계로 들어가며 2025년까지 항공 운영에서 수익성을 달성할 것으로 예상하고 있습니다. 세부 계획과 발표 자료는 회사의 투자자 웹사이트에서 확인할 수 있습니다.
Surf Air Mobility (NYSE: SRFM) a dévoilé son Plan de Transformation en quatre phases, accompagné d'une nouvelle présentation pour investisseurs. L'entreprise a assuré un prêt à terme de 50 millions de dollars, marquant l'achèvement de la première phase du plan. Selon Deanna White, PDG et COO par intérim, l'entreprise entre désormais dans la phase d'Optimisation et prévoit d'atteindre la rentabilité de ses opérations aériennes d'ici 2025. Le plan détaillé et la présentation sont disponibles sur le site web pour investisseurs de l'entreprise.
Surf Air Mobility (NYSE: SRFM) hat seinen vierphasigen Transformationsplan zusammen mit einer neuen Investorenpräsentation vorgestellt. Das Unternehmen sicherte sich ein Darlehen über 50 Millionen Dollar, was den Abschluss der ersten Phase des Plans markiert. Laut der interimistischen CEO und COO Deanna White tritt das Unternehmen nun in die Optimierungsphase ein und erwartet, bis 2025 rentabel in den Fluggesellschaftsoperationen zu sein. Der detaillierte Plan und die Präsentation sind auf der Investorenseite des Unternehmens verfügbar.
Positive
Secured $50 million term loan financing
Structured transformation plan in place
Projects profitability in airline operations by 2025
Negative
Currently unprofitable operations
Requires multiple phases of transformation to achieve profitability
Insights
The announcement of a $50 million term loan and four-phase Transformation Plan marks a significant strategic shift for Surf Air Mobility. The funding provides important operational runway while the company executes its turnaround strategy. The explicit target of achieving profitability in airline operations by 2025 sets a clear milestone for investors to track progress.
However, investors should note several key considerations: First, the current market cap of just $27 million is significantly below the new debt burden, indicating substantial dilution risk. Second, the extended timeline to profitability suggests continued cash burn through 2024. The appointment of an interim CEO also adds an element of leadership uncertainty during this critical transformation period.
LOS ANGELES--(BUSINESS WIRE)--
Surf Air Mobility Inc. (NYSE: SRFM) (“the Company”,“Surf Air”), a leading regional air mobility platform, announced last week its four-phase Transformation Plan and a $50 million term loan that positions the Company to achieve profitability in its airline operations.
Today, the Company is announcing that it has posted details about its Transformation Plan and a new investor presentation on the Events & Presentations page of the Company’s investor website here.
Deanna White, Interim CEO & COO of Surf Air Mobility, said: “We are excited to introduce our four-phase Transformation Plan, which we’re confident positions us on a path to profitability. Securing the $50 million term loan completes the first phase of our Transformation Plan, and we are now entering the Optimization phase. As a result of our optimization initiatives, we expect our airline operations to be profitable in 2025.”
About Surf Air Mobility
Surf Air Mobility is a Los Angeles-based regional air mobility platform and the largest commuter airline in the U.S. by scheduled departures as well as the largest passenger operator of Cessna Caravans in the U.S. In addition to its airline operations, Surf Air Mobility is currently developing an AI powered airline software operating system and is working toward certification of electric powertrain technology. Surf Air Mobility plans to offer our technology solutions to the entire regional air mobility industry to improve safety, efficiency, profitability and reduce emissions.
Forward-Looking Statements
This Press Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995., including statements regarding the anticipated benefits of the $50 million term loan financing; Surf Air’s implementation of its transformation strategy; Surf Air’s ability to anticipate the future needs of the air mobility market; future trends in the aviation industry, generally; Surf Air’s profitability and future financial results; and Surf Air’s balance sheet and liquidity. Readers of this release should be aware of the speculative nature of forward-looking statements. These statements are based on the beliefs of the Company’s management as well as assumptions made by and information currently available to the Company and reflect the Company’s current views concerning future events. As such, they are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, among many others: Surf Air’s future ability to pay contractual obligations and liquidity will depend on operating performance, cash flow and ability to secure adequate financing; Surf Air’s limited operating history and that Surf Air has not yet manufactured any hybrid-electric or fully-electric aircraft; the electrified powertrain technology Surf Air plans to develop does not yet exist; any accidents or incidents involving hybrid-electric or fully-electric aircraft; the inability to accurately forecast demand for products and manage product inventory in an effective and efficient manner; the dependence on third-party partners and suppliers for the components and collaboration in Surf Air’s development of electrified powertrains and its advanced air mobility software platform, and any interruptions, disagreements or delays with those partners and suppliers; the inability to execute business objectives and growth strategies successfully or sustain Surf Air’s growth; the inability of Surf Air’s customers to pay for Surf Air’s services; the inability of Surf Air to obtain additional financing or access the capital markets to fund its ongoing operations on acceptable terms and conditions; the outcome of any legal proceedings that might be instituted against Surf Air, the risks associated with Surf Air’s obligations to comply with applicable laws, government regulations and rules and standards of the New York Stock Exchange; and general economic conditions. These and other risks are discussed in detail in the periodic reports that the Company files with the SEC, and investors are urged to review those periodic reports and the Company’s other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov, before making an investment decision. The Company assumes no obligation to update its forward-looking statements except as required by law.
What is Surf Air Mobility's (SRFM) new transformation plan?
Surf Air Mobility has introduced a four-phase Transformation Plan, with the first phase completed through a $50 million term loan. The company is now entering the Optimization phase and aims to achieve profitability in airline operations by 2025.
When does Surf Air Mobility (SRFM) expect to become profitable?
Surf Air Mobility expects its airline operations to become profitable in 2025, according to their transformation plan announcement.
How much funding did Surf Air Mobility (SRFM) secure in 2024?
Surf Air Mobility secured a $50 million term loan as part of the first phase of its transformation plan.
