Surf Air Mobility Inc. Stock Price, News & Analysis

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.

Surf Air Mobility (NYSE: SRFM) has appointed David Anderman to its board of directors, effective December 17, 2024. Anderman, who previously served as Chief Legal Officer of Surf Air from June 2023 to May 2024, brings significant experience from his roles as General Counsel at SpaceX and COO/General Counsel at Lucasfilm At SpaceX, he supported the launch of Starlink and NASA astronaut missions to the ISS. During his 16-year tenure at Lucasfilm, he notably negotiated the company's sale to Disney in 2012. Currently, he serves as Co-Founder and General Partner of Stellar Ventures, focusing on space entrepreneurship investments. The appointment aims to strengthen Surf Air's development of SurfOS, their AI-powered aviation management software being developed with Palantir.

Surf Air Mobility (NYSE: SRFM) announced plans to reduce potential future equity dilution by approximately 90%. The company will amend its registration statement to decrease share subscription facility shares from 40,000,000 to approximately 4.4M shares (~$15,000,000 at current prices). This follows their recently secured $50M term loan, which enables execution of their Transformation Plan without significant draws from the GEM facility.

The company has strengthened its balance sheet through debt maturity extensions to 2028, cost reductions from M&A synergies, route optimization, and reduced past liabilities. For 2025, Surf Air plans to exit unprofitable routes, deploy four new aircraft, address maintenance backlogs, and leverage their SurfOS platform. They expect 2025 revenue to exceed $100 million and achieve profitability in airline operations.

Surf Air Mobility (NYSE: SRFM) has appointed Deanna White as its new CEO and COO. White has served as Interim CEO & COO since May 2024 and was previously the company's CFO from May 2022 to December 2023. Carl Albert, Chairman of Surf Air Mobility, praised White's vision and track record, highlighting her role in the company's Transformation Plan aimed at achieving profitability in the near term. White's aviation experience includes leading operations at Kitty Hawk, which was sold to Boeing and rebranded as Wisk Aero, and serving as CFO and CEO of Bombardier Flexjet, sold to Directional Aviation Capital. White expressed confidence in achieving profitability by 2025, emphasizing a business model requiring less capital and a strengthened balance sheet.