Surf Air Mobility
IndustryAviation
Founded2020
Headquarters
Hawthorne, California[1]
Area served
North America
ProductsHybrid electric aircraft
SubsidiariesSurf Air, BlackBird
Websitewww.surfairmobility.com

Surf Air Mobility is an American electric aviation company. It is the parent company of Surf Air and Southern Airways Express.[2]

History

Surf Air Mobility was formed in February 2020 following the acquisition of BlackBird Air.[3] The company also controls Surf Air, a private air travel company providing the ability to access short-haul regional flights that range from 50 to 500 miles.[4][5]

In September 2020, Surf Air Mobility secured a commitment for $200 million in funding from Global Emerging Markets Group (GEM).[6][7]

In February 2021, Surf Air Mobility entered an agreement to acquire Ampaire,[8][9] an electric aviation company that develops hybrid-electric powertrains for aircraft such as the Ampaire Electric EEL based on the Cessna 337 and the Cessna Grand Caravan.[10][11][12] The agreement has since been called off.[13]

In July 2021, Surf Air Mobility announced that it has entered into a relationship with Textron Aviation to develop an electrified Cessna Grand Caravan, beginning with a hybrid electric Cessna Grand Caravan aircraft.[14][15] Surf Air Mobility has agreed to purchase up to 150 Cessna Grand Caravan EX single-engine turboprops,[16] with an initial fleet order of 100 aircraft and an option for 50 more.[17][18]

In July 2023, Surf Air Mobility went public on the stock market through a direct listing on the New York Stock Exchange (under the ticker symbol "SRFM").[19] A decision many finance outlets described as risky.[20][21][22] As part of Surf Air Mobility's debut on the stock market, it completed its acquisition of Southern Airways Express in August 2023.[23]

References

  1. ↑ "Surf Air Secures $200 Million in Funding Ahead of IPO | Los Angeles Business Journal". Los Angeles Business Journal.
  2. ↑ "Surf Air Mobility Announces the Successful Completion of its Acquisition of Southern Airways". www.businesswire.com. 2023-08-02. Retrieved 2023-11-07.
  3. ↑ "Surf Air Acquires BlackBird Air | Los Angeles Business Journal". Los Angeles Business Journal.
  4. ↑ Siebenmark, Jerry. "Surf Air Targets Short-haul Flights with BlackBird Buy". Aviation International News.
  5. ↑ "Surf Air's Ampaire Acquisition Could Speed Up Hybrid-Electric Aviation". Aviation Week & Space Technology.
  6. ↑ "Surf Air Says It Secured $200 Million As It Plans To Go Public". Forbes.
  7. ↑ "Surf Air Mobility Lands $200M IPO-linked Funding Boost". Aviation International News.
  8. ↑ "Hybrid Electric Aviation Pioneer Ampaire To Be Acquired By Surf Air". Forbes.
  9. ↑ "Surf Air Mobility To Acquire Ampaire". AVweb. 19 February 2021.
  10. ↑ "Surf Air Mobility to Acquire Electric Aviation Pioneer Ampaire". Flying.
  11. ↑ "Hybrid Electric Aviation Pioneer Ampaire To Be Acquired By Surf Air". Forbes.
  12. ↑ Bogaisky, Jeremy. "Prius Of The Skies? Cessna To Offer Hybrid Version Of Workhorse Caravan Utility Plane In Tie-Up With Surf Air". Forbes. Retrieved 2021-09-17.
  13. ↑ Perry, Dominic (2022-04-27). "Surf Air pulls plug on Ampaire purchase". Flight Global. Retrieved 2023-11-07.
  14. ↑ Thurber, Matt. "Surf Air Mobility Bets Big on Hybrid-electric Caravan". Aviation International News. Retrieved 2021-09-17.
  15. ↑ "Surf Air Mobility to electrify Cessna Grand Caravan EX aircraft". Aerospace Manufacturing and Design. Retrieved 2021-09-17.
  16. ↑ "Electric Cessna Grand Caravan in Development to Fly by 2024". Aviation Today. 2021-07-20. Retrieved 2021-09-17.
  17. ↑ Wayne, Gary Lee Ray (2021-07-26). "Surf Air Mobility & Textron to develop hybrid Cessna". electrive.com. Retrieved 2021-09-17.
  18. ↑ "Surf Air Mobility Bets Big on Electric". Business Jet Traveler. 2021-07-22. Retrieved 2021-09-17.
  19. ↑ "Surf Air Falls 37% From Debut Price in Direct Listing". Bloomberg.com. 2023-07-27. Retrieved 2023-11-07.
  20. ↑ "Surf Air's Rough Debut a Cautionary Tale for Direct Listings". news.bloomberglaw.com. Retrieved 2023-11-07.
  21. ↑ Kuruthukulangara, Jessica (2023-07-28). "Direct listing of Surf Air Mobility gets cold reception | Seeking Alpha". seekingalpha.com. Retrieved 2023-11-07.
  22. ↑ Le Marquand, Yves (2023-07-31). "Surf Air Mobility's share price continues to drop". Corporate Jet Investor. Retrieved 2023-11-07.
  23. ↑ "Surf Air Mobility Announces the Successful Completion of its Acquisition of Southern Airways". www.businesswire.com. 2023-08-02. Retrieved 2023-11-07.
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