News
Electric aviation company Surf Air Mobility has signed a USD$450 million deal with Jetstream Aviation Capital to fund the growth of its turboprop fleet.
Surf Air will have access to financing for six years for both new and used Cessna Caravans and Pilatus PC-12 single-engine turboprops. Each aircraft acquisition will be subject to separate binding sale, purchase and lease agreements.
Surf Air went public in May via a SPAC merger, and also acquired Southern Airways, a regional airline company that flies Cessna Caravans, Tecnam P2012 Travellers, King Air 200s and PC-12s on routes from cities in the United States.
“We believe the customized aircraft leasing structure from Jetstream will provide us a capital-efficient way to more rapidly expand our operations at the scale necessary for a future when electrified aircraft unlock the latent demand for convenient, affordable regional travel on new routes across the US,” said Sudhin Shahani, Co-founder, Chief Executive Officer and Executive Chairman of Surf Air Mobility.
The agreement will also enable Surf Air to grow its fleet to meet route expansion plans and customer demand as it seeks to expand its regional air travel footprint and sustainable flying solutions, the company said in a press release.
Jetstream, the largest global aircraft lessor focused exclusively on commercially operated turboprop regional aircraft and engines, will also purchase up to 250 hybrid- and all-electric propulsion systems from Surf Air for its own aircraft over the course of five years as part of the deal, which is subject to FAA certification and the negotiation of pricing terms and the minimum commitment and definitive documentation.
News
YE 2023
Business Aviation First To Fly: Dassault Falcon 6X Business Aviation CorporateCare Enhanced: Keeping Business Jets Flying See all articlesYE 2023
Civil Helicopters Other Civil Helicopter Fleet Report YE 2023 – Executive Summary Civil Helicopters eVTOL OEMS in Asia-Pacific See all articlesYE 2022
Civil Helicopters Helicopter Spotlight: Airbus H175 See all articlesYE 2022 - Europe
Business Aviation Luxaviation CEO Sees Deficiencies in Seemingly Buoyant Market Business Aviation Supporting Modern Time Machines See all articlesYE 2022 - MENA
Business Aviation DC Aviation Al-Futtaim Celebrates Ten Years in the Middle East See all articlesYE 2021
Business Aviation Market Trends – Business Jet Fleet Report YE 2021 Business Aviation 10 Year Forecast See all articles2021 Q3
Other Pre-owned Market Spotlight: Citation Sovereign/Sovereign+ – Asian Sky Quarterly 2021 Q3 See all articlesYE 2019
Civil Helicopters EVTOL News in Asia – Civil Helicopters YE 2019 Civil Helicopters Engine OEM Overview – Civil Helicopters YE 2019 See all articles© Copyright Asian Sky Group -2024 | All Rights Reserved