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 (SRFM) is a leader in sustainable regional air travel, pioneering electric aviation solutions to connect communities efficiently. This page serves as the definitive source for official company announcements, financial updates, and strategic developments.
Investors and industry observers will find curated news covering key areas including quarterly earnings reports, technology advancements in electric propulsion, partnership announcements, and regulatory milestones. All content is sourced directly from company communications to ensure accuracy and timeliness.
Regular updates provide insights into SRFM's progress in decarbonizing regional air travel while expanding service networks. Users can track the company's unique position at the intersection of aviation innovation and sustainable transportation.
Bookmark this page for streamlined access to Surf Air Mobility's latest developments. Check back frequently for real-time updates on initiatives shaping the future of eco-conscious air mobility.
Surf Air Mobility (NYSE: SRFM) announced its participation at Palantir Technologies' AIPCon June 2024, scheduled for June 6th. The event will feature Surf Air's CTO leading a workshop on utilizing Palantir's AI platform for regional air mobility. Since 2021, Surf Air has collaborated with Palantir to develop software tools for Part 135 regional air operators. The partnership aims to provide these operators with advanced tools similar to those used by larger commercial airlines. Deanna White, Interim CEO & COO, emphasized Palantir Foundry's role in enhancing their technology platform and transforming regional air mobility.
Surf Air Mobility (NYSE: SRFM) has launched subsidized commuter air service between Williamsport Regional Airport (IPT) and Washington Dulles International Airport (IAD) via its subsidiary Southern Airways. This marks the first commercial flights at Williamsport in over two years, offering connections to global destinations through partners like United, American Airlines, and Alaska Airlines. The service includes ten weekly flights with fares starting at $99 one-way, aiming to provide more accessible and affordable travel for Williamsport and surrounding areas. Community support and grants have mitigated financial risks, and the flights will utilize the convenient H gates at Dulles. The launch has been warmly welcomed by local officials and businesses.
Surf Air Mobility (NYSE: SRFM) received a notice from the NYSE on May 20, 2024, indicating non-compliance with the Minimum Market Capitalization Standard under Section 802.01B. The company's average global market cap over 30 consecutive trading days was below $50 million, and its stockholders' equity was also under $50 million. Surf Air has 45 days to submit a business plan to regain compliance. If approved, the company will have an 18-month cure period while shares remain listed. The notice does not affect current trading or operations, and the company remains confident in its strategic plan and leadership.
Surf Air Mobility (NYSE: SRFM) has launched a new commuter air service connecting West Lafayette/Purdue University Airport (LAF) with Chicago O’Hare Airport (ORD) as of May 15, 2024. The service aims to facilitate travel for Purdue University’s community and Greater Lafayette residents by providing swift connectivity to one of the busiest airports in the U.S. The flights are available for booking on iFlySouthern.com, United.com, aa.com, and AlaskaAir.com. Purdue University is actively supporting the service to ensure its success. Southern Airways Express, a subsidiary of Surf Air Mobility, operates the flights.
Surf Air Mobility (NYSE: SRFM) announced its Q1 2024 financial results, reporting revenue of $30.6 million, a 9.5% increase year-over-year, beating guidance. Despite this, the company recorded a net loss of $37.0 million, up from $15.5 million the previous year. Adjusted EBITDA was $(16.5) million, aligning with guidance.
CEO Stan Little will transition to a “Founder’s” role, and Deanna White, former CFO, will serve as COO and interim CEO. Key initiatives include potential benefits from the FAA Reauthorization Act, ongoing electrification efforts, and software development.
Surf Air Mobility supports 19 communities under the EAS program and plans to reduce costs and explore strategic partnerships for electrification. The company aims for $28-$31 million in revenue for Q2 2024 and will provide a full-year outlook later this year.
Surf Air Mobility, Inc. (SRFM) participated in Chardan's virtual conference to discuss trends in advanced air mobility and electrified air travel. They were also featured in Chardan's report on digital transformation in freight, logistics, and transportation.
Surf Air Mobility Inc. (NYSE: SRFM) will be releasing their first quarter 2024 financial results on May 14, 2024, after market close. They will host a webcast at 5:00 pm ET the same day, with a replay available online for 21 days. Interested parties can register in advance to listen to the webcast on the investor relations website.
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