Saturday, May 18

Air New Zealand’s Electric Flight Initiative Prepares for Takeoff

–News Direct–

Source: Pexels
Source: Pexels

Air New Zealand just announced bold plans to introduce all-electric cargo flights by 2026, marking a significant leap toward sustainability in the aviation industry.1

With a length exceeding 39 feet and weighing three tonnes, the The Beta ALIA electric cargo aircraft can reach speeds of up to 168 miles per hour. Extensive test flights have demonstrated its capabilities, covering nearly 300 miles on a single charge, with a charging time of 40 to 60 minutes, highlighting the practical feasibility of electric aviation for commercial operations.

Initially focusing on cargo transportation, the aircraft will collaborate with New Zealand Post to shuttle mail between the two airports, showcasing the practical utility of electric aviation in essential services.

In December 2023, Air New Zealand's CEO Greg Foran emphasized the pivotal role of sustainable aviation fuels in reducing the airline's carbon footprint. He highlighted the potential of next-generation aircraft to significantly cut emissions, particularly in regional operations.

The Beta ALIA aircraft represents a vital advancement in emission reduction efforts. Data from 2023 revealed that aviation contributed 12% of New Zealand's carbon emissions, a stark contrast to the global average of 2.8%.2

Kiri Hannifin, Air New Zealand's chief sustainability officer, said that nearly all airports across the country had shown keen interest in securing routes, underscoring the widespread enthusiasm for sustainable air travel.

Air New Zealand isnt the only company looking to launch all-electric aircraft in the near future. Surf Air Mobility Inc. (NYSE:SRFM) is a Los-Angeles-based regional air mobility platform transforming regional flying through electrification.

Surf Air Mobility isnt just an EV aircraft startup. Its subsidiary Southern Airways is already the largest commuter airline in the US based on scheduled departures, flying more than 450,000 passengers on ~75,000 flights to 48 destinations in the US in 2022.

Now, the company has partnered with commercial leaders to develop revolutionary new technology to upgrade the widely popular Cessna Grand Caravan aircraft with fully electric and hybrid-electric engines for passenger air travel, once certified.

With expertise spanning aviation, electrification, and consumer technology, Surf Air Mobility is well-positioned to drive forward the electrification of air travel, ushering in a new era of sustainable aviation.

Surf Air Mobility Forges Ahead in Electrifying Regional Air Travel: Partnerships, Milestones, and Financial Outlook

Surf Air Mobility Inc. (NYSE:SRFM) just announced its fourth quarter and full year 2023 results, showcasing growth and development in its regional air mobility platform. The company exceeded guidance, with a GAAP revenue of $60.5 million and pro forma revenue of $112.9 million for the full year, marking a 12% year-over-year increase.

In Q4 2023, Surf Air Mobility solidified key partnerships and agreements, signaling its dedication to innovation and expansion. The company deepened its collaboration with Palantir to develop advanced software solutions, including continuing work on an AI-enhanced 'crew scheduling' application. Additionally, Surf Air Mobility continues to advance its initiative to electrify the Cessna Caravan, and is in the final stage of vendor selections for key components, including battery and electric motor suppliers.

Surf Air Mobility extended its global footprint by collaborating with Brazil's Azul, the largest airline in the country, to work toward introducing electric Cessna Caravans into Azul's existing fleet. The company also delved into the burgeoning seaglider market through a partnership with REGENT, a leading manufacturer of all-electric seagliders. With plans to establish a base in Miami, Surf Air Mobility could offer passenger transport services for South Florida, including routes connecting Miami, Fort Lauderdale, Palm Beach, and the Caribbean Islands.

In March 2024, Surf Air Mobility signed a memorandum of understanding with Auric Air Services Ltd., a Tanzania-based regional air operator serving East Africa. The agreement aims to upgrade up to 12 of Auric Air's Cessna Grand Caravan aircraft with Surf Air's proprietary electrified powertrain technology upon certification. The company now has MOUs for approximately 13% of the Cessna Caravan market in Africa for potential upgrades to its electrified powertrains, once certified.

This agreement follows Surf Air's recent announcements of similar electrified powertrain MOUs with other major Cessna Caravan air operators in East Africa, such as Safarilink, Yellow Wings, and Z.Boskovic, as well as Azul Connecta in Brazil.

Looking ahead, Surf Air Mobility Inc. (NYSE:SRFM) anticipates first-quarter 2024 revenue in the range of $28.5 million to $29.5 million.

With efforts to balance growth with profitability, Surf Air Mobility is poised to lead the future of regional air mobility with its innovative approach and dedication to environmental stewardship.

Click on this link or read their corporate presentation to learn more about Surf Air Mobility Inc. (NYSE:SRFM).

Footnotes:

[1] https://thesun.my/world/new-zealand-to-launch-first-electric-plane-for-test-commercial-flights-in-2026-company-ED12339085

[2] https://www.rnz.co.nz/national/programmes/checkpoint/audio/2018918568/air-nz-purchases-first-battery-powered-electric-aircraft

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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, forward-looking statements), which reflect management's expectations regarding Surf Air Mobility Inc.s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as predicts, projects, targets, plans, expects, does not expect, budget, scheduled, estimates, forecasts, anticipate or does not anticipate, believe, intend and similar expressions or statements that certain actions, events or results may, could, would, might or will be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Surf Air Mobility Inc.s industry; (b) market opportunity; (c) Surf Air Mobility Inc.s business plans and strategies; (d) services that Surf Air Mobility Inc. intends to offer; (e) Surf Air Mobility Inc.s milestone projections and targets; (f) Surf Air Mobility Inc.s expectations regarding receipt of approval for regulatory applications; (g) Surf Air Mobility Inc.s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Surf Air Mobility Inc.s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of managements experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Surf Air Mobility Inc.s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Surf Air Mobility Inc.s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) the accuracy of budgeted costs and expenditures; (e) Surf Air Mobility Inc.s ability to attract and retain skilled personnel; (f) political and regulatory stability; (g) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (h) changes in applicable legislation; (i) stability in financial and capital markets; and (j) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Surf Air Mobility Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Surf Air Mobility Inc.s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Surf Air Mobility Inc.s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Surf Air Mobility Inc.s business operations (e) Surf Air Mobility Inc. may be unable to implement its growth strategy; and (f) increased competition.Except as required by law, Surf Air Mobility Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Surf Air Mobility Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Surf Air Mobility Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

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