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Wheels Up adopts Surf Air (NYSE: SRFM) BrokerOS in up to $12M pact

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Surf Air Mobility Inc. entered into a Master Subscription Agreement with Wheels Up Experience Inc. for its Enterprise BrokerOS aviation software. The agreement runs for an initial two-year term, during which Wheels Up will pay $8.0 million in subscription fees, with an optional third year for an additional $4.2 million, all payable quarterly.

If the option year is exercised, Surf Air Mobility is expected to receive up to $12 million in total subscription fees. The contract includes customary software service-level guarantees and termination rights, and Wheels Up will be the launch customer for the Enterprise BrokerOS product powered by Palantir’s Foundry and Artificial Intelligence Platform.

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Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Initial subscription fee $8.0 million Two-year Enterprise BrokerOS term with Wheels Up
Optional extension fee $4.2 million Additional one-year BrokerOS extension for Wheels Up
Total potential subscription fees $12 million Maximum under two-year term plus optional third year
Agreement date June 22, 2026 Master Subscription Agreement execution date
Press release date June 25, 2026 Joint announcement of BrokerOS launch customer
Initial term length Two years Base subscription period for Wheels Up BrokerOS
Extension term length One year Optional additional term for BrokerOS subscription
Master Subscription Agreement financial
"entered into a Master Subscription Agreement (the “MSA”) related to the Company’s Enterprise BrokerOS software"
Enterprise BrokerOS technical
"launch customer for Enterprise BrokerOS, Surf Air Mobility’s SurfOS charter broker product"
service-level guarantees technical
"The MSA also provides for customary software service-level guarantees and termination rights"
Regulation FD Disclosure regulatory
"Item 7.01 Regulation FD Disclosure On June 25, 2026, the Company and Wheels Up issued a joint press release"
Regulation FD disclosure requires public companies to share important, market-moving information with everyone at the same time instead of tipping off analysts or large investors first. Think of it as making sure all players on a field hear the same announcement simultaneously; that fairness helps investors trust that stock prices reflect the same information and reduces the risk of sudden, unfair trading advantages or regulatory penalties for selective leaks.
Artificial Intelligence Platform technical
"SurfOS charter broker product powered by Palantir Technologies Inc.’s Foundry and Artificial Intelligence Platform"
An artificial intelligence platform is a software system that combines data, models and tools to automate analysis, make predictions or carry out tasks that normally need human judgment — like a smart engine or toolbox for digital decision-making. Investors care because such platforms can boost revenue and cut costs by scaling services, create competitive advantage through unique insights, and introduce risks (technical failure, bias, or regulatory limits) that affect a company’s valuation.
forward-looking statements regulatory
"This Press Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
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false000193622400019362242026-06-222026-06-22

 

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): June 22, 2026

SURF AIR MOBILITY INC.

(Exact name of registrant as specified in its charter)

Delaware

001-41759

36-5025592

(State or other jurisdiction
of incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

12111 S. Crenshaw Blvd.

Hawthorne, CA 90250

(Address of principal executive offices, including zip code)

Registrant’s telephone number, including area code:

(424) 332-5480

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class:

Trading Symbol(s)

Name of Each Exchange on Which Registered:

Common stock, par value $0.0001 per share

SRFM

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

Item 8.01 Other Events.

 

On June 22, 2026, Surf Air Technologies Inc., a wholly-owned subsidiary of Surf Air Mobility Inc. (the “Company”), and Wheels Up Experience Inc. (“Wheels Up”) entered into a Master Subscription Agreement (the “MSA”) related to the Company’s Enterprise BrokerOS software. The MSA provides for an initial subscription term of two years, for which Wheels Up will pay the Company a subscription fee of $8.0 million, and an optional one-year extension, for which Wheels Up will pay the Company an additional fee of $4.2 million, all payable quarterly. The MSA also provides for customary software service-level guarantees and termination rights.

 

Item 7.01 Regulation FD Disclosure

 

On June 25, 2026, the Company and Wheels Up issued a joint press release announcing the MSA. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

 

The information in this Item 7.01, including Exhibit 99.1, are furnished herewith and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (“Exchange Act”), or otherwise subject to the liabilities of that section, nor shall they be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

 

 

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit Number

Exhibit Title or Description

99.1

Press Release dated June 25, 2026

104

Cover Page Interactive Data File (embedded within the Inline XBRL)

1

 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

SURF AIR MOBILITY INC.

Date: June 25, 2026

By:

/s/ Deanna White

 Name:

Deanna White

 Title:

Chief Executive Officer

2

 

 

 

Exhibit 99.1

 

Surf Air Mobility Announces Wheels Up as Launch Customer for Enterprise BrokerOS

 

Wheels Up (NYSE: UP) to become the first company to deploy Enterprise BrokerOS, Surf Air Mobility’s (NYSE: SRFM) SurfOS charter broker product powered by Palantir Technologies’ (NASDAQ: PLTR) AIP and Foundry

 

LOS ANGELES – June 25, 2026 – Surf Air Mobility Inc. (NYSE: SRFM) ("Surf Air Mobility") today announced Wheels Up Experience Inc. (NYSE: UP) ("Wheels Up") as the launch customer for Enterprise BrokerOS, Surf Air Mobility's SurfOS charter broker product powered by Palantir Technologies Inc.’s (NASDAQ: PLTR) (“Palantir”) Foundry and Artificial Intelligence Platform (“AIP”).

 

Wheels Up is one of the world’s leading private aviation companies operating a controlled fleet of Embraer Phenom 300 and Bombardier Challenger 300 series aircraft and a unified go-to-market model including private jet and group charter, and offering hybrid private-commercial travel solutions through its one-of-a-kind strategic partnership with Delta Air Lines. The deployment of Surf Air Mobility’s Enterprise BrokerOS marks another milestone in Wheels Up's ongoing transformation, which has centered on delivering best-in-class on operational reliability, modernizing its fleet owned and operated fleet, and delivering a differentiated premium travel experience to its members and customers through its uniquely customer centric business model.

 

The initial phase of the partnership focuses on transforming Wheels Up’s charter workflow via Surf Air Mobility’s BrokerOS software product, integrating critical data sources and enabling faster, more informed decision-making across the charter booking process and enhanced charter solutions for customers.

 

George Mattson, Chief Executive Officer of Wheels Up, said: "This partnership is a defining step in solidifying Wheels Up as the most customer-centric, AI-forward and operationally excellent company in private aviation. By combining Wheels Up's scale, brand and aviation expertise with Surf Air Mobility's transformative aviation software and Palantir's leadership in AI, we are setting a new standard for how private aviation is sold, operated and experienced. This is technology as a competitive advantage in the marketplace, not a back-office function."

 

Exhibit 99.1

Liam Fayed, Co-Founder of Surf Air Mobility, said: “We built BrokerOS to solve the specific complexities of private aviation, and the value we’ve seen on our own On Demand private charter business has given us conviction in what it delivers. Wheels Up's mission to be the most technologically advanced private aviation company makes them an ideal enterprise launch customer to demonstrate the impact of BrokerOS at scale.”

 

Ted Mabrey, Global Head of Commercial at Palantir, said: “What Surf Air has done is exceptionally hard: codifying operator expertise into technology that runs their own business, and now proving that it can work for others. Wheels Up's launch of SurfOS is validation that Surf Air's opinion as an operator translates — and the Palantir Ontology and backbone ensures it can deliver at scale, with enterprise-grade security, governance, and access to the most cutting-edge AI.”

 

Wheels Up and Surf Air Mobility have entered into an agreement with an initial two-year term, plus an option for a third, that includes customary software service level guarantees, under which Surf Air Mobility is expected to receive up to $12 million in subscription fees.

 

BrokerOS Benefits to Wheels Up

For Wheels Up, the deployment of BrokerOS replaces multiple legacy software platforms, freeing up engineering and operational capacity to focus on higher-value initiatives that further differentiate the Wheels Up customer experience.

 

In addition to driving cost and productivity benefits, the deployment of BrokerOS is expected to drive top line charter growth opportunities through faster throughput and improved lead conversion rates by:

●
Streamlining aircraft sourcing, quote generation, booking, and customer relationship management
●
Consolidating supply across Wheels Up's owned fleet operations and network of third-party operators
●
Automating manual workflows that enable brokers to manage higher transaction volume
●
Delivering real-time business intelligence to surface actionable insights

 

 

 

Exhibit 99.1

About Surf Air Mobility

Surf Air Mobility is a Los Angeles-based air mobility platform. With its AI-enabled SurfOS software, Surf Air Mobility provides technology designed to support the modernization of air operations and the adoption of next-generation aircraft. The Company currently operates one of the largest commuter airlines in the United States by scheduled departures and provides private charter services. Together, these businesses provide the operational scale and real-world operating data to validate and deploy its software. These capabilities position Surf Air Mobility as a leader shaping a more efficient, connected, and accessible future for aviation.

 

About Palantir Technologies Inc.

Foundational software of tomorrow. Delivered today. Additional information is available at https://www.palantir.com.

 

About Wheels Up

Wheels Up is a leading global provider of on-demand private aviation with a large, diverse fleet and a network of safety-vetted charter operators, all committed to safety and service. Customers access charter and membership programs and premium commercial travel benefits through a strategic partnership with Delta Air Lines. Wheels Up also provides cargo services to a range of clients, including individuals and government organizations, via Air Partner Cargo. With the Wheels Up app and website, members can easily search, book, and fly. For more information, visit www.wheelsup.com.

 

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 Surf Air Mobility’s profitability and future financial results and its ability to achieve its business objectives. 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 Mobility’s ability to anticipate the future needs of the air mobility market; Surf Air Mobility’s future ability to pay contractual obligations and liquidity will depend on operating performance, cash flow and

Exhibit 99.1

ability to secure adequate financing; the dependence on third-party partners and suppliers for the components and collaboration in Surf Air Mobility’s development of 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 Mobility’s growth; the inability of Surf Air Mobility’s customers to pay for Surf Air Mobility’s services; the inability of Surf Air Mobility 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 Mobility, the risks associated with Surf Air Mobility’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.

 

Surf Air Mobility Media Contacts
Press: press@surfair.com
Investors: investors@surfair.com

 

Source: View Original Filing on SEC EDGAR

FAQ

What agreement did Surf Air Mobility (SRFM) sign with Wheels Up?

Surf Air Mobility signed a Master Subscription Agreement with Wheels Up for its Enterprise BrokerOS software. The deal covers charter workflow transformation, integrating data sources to improve booking decisions and customer solutions across Wheels Up’s private aviation operations.

How much revenue can Surf Air Mobility earn from the Wheels Up deal?

Surf Air Mobility can earn up to $12 million in subscription fees from Wheels Up. The initial two-year term is priced at $8.0 million, with an optional third year adding $4.2 million, and all amounts are payable quarterly under the agreement.

What is the term length of the Surf Air Mobility–Wheels Up software agreement?

The agreement has an initial two-year subscription term plus an option for a third year. During this period, Wheels Up will use Surf Air Mobility’s Enterprise BrokerOS software under customary service-level guarantees and termination rights defined in the Master Subscription Agreement.

What technology underpins Surf Air Mobility’s Enterprise BrokerOS for Wheels Up?

Enterprise BrokerOS is powered by Palantir Technologies’ Foundry and Artificial Intelligence Platform. It is designed to integrate critical charter data, streamline aircraft sourcing and booking, automate manual workflows, and provide real-time business intelligence to support Wheels Up’s private aviation operations.

How is BrokerOS expected to benefit Wheels Up’s operations?

BrokerOS is expected to replace multiple legacy platforms at Wheels Up, freeing engineering and operational capacity. It aims to cut costs, boost productivity, and support charter revenue growth by improving throughput, lead conversion, and management of higher transaction volumes across its fleet and partner network.

When did Surf Air Mobility and Wheels Up announce the BrokerOS partnership?

Surf Air Mobility and Wheels Up announced the partnership in a joint press release dated June 25, 2026. The agreement itself was entered into on June 22, 2026, and Wheels Up will act as the launch customer for the Enterprise BrokerOS product.

Filing Exhibits & Attachments

2 documents

Press Releases

Other Documents