April 23, 2024
On-demand charter and by-the-seat provider Surf Air Mobility has gone public via a direct listing and acquired Southern Airways.
On-demand charter and by-the-seat provider Surf Air Mobility has gone public via a direct listing and acquired Southern Airways
Surf Air Mobility had a busy July.
The regional private aviation mobility platform completed its direct public offering and acquisition of Southern Airways.
The acquisition was completed immediately before its July 27, 2023, listing under SRFM.
The company said it will schedule a call for the week of Aug. 14 to provide second-quarter financial results and a future outlook.
“Surf Air Mobility is building a regional air mobility platform to sustainably connect the world’s communities. We are thrilled to announce the completion of our transaction, combining Surf Air and Southern into Surf Air Mobility, the largest commuter airline in the U.S. by scheduled departures. We are now well-positioned to build a platform that delivers accessible, affordable, and sustainable regional travel for our customers,” said Stan Little, CEO of the combined entity.
Little had been Chairman and CEO of Southern Airways.
According to the announcement, the company “intends to accelerate the adoption of green flying by developing, together with its commercial partners, hybrid-electric and fully-electric powertrain technology to upgrade existing fleets.”
It adds, “By creating a financing and services infrastructure to enable this transition at an industry-wide level, Surf Air Mobility believes it can bring electrified aircraft to market at scale and substantially reduce the cost and environmental impact of regional flying.”
The company launched in 2011, providing a by-the-seat membership in California on a fleet of Pilatus PC-12s.
