News Release
Electric Air Travel Might Be Coming Sooner Than You Think
MarketJar
Imagine hopping on an electric commuter airplane at a smaller, convenient airport near your home in San Francisco and flying straight to Sacramento in around 20 minutes, instead of battling traffic for over 100 miles for up to two hours. Sounds like a dream, doesn’t it? Well, it turns out that the electric energy transition in the aviation space could be here much sooner than you think and it’s going to be big. As electric aircraft developers prepare for takeoff, some airports are planning ahead to meet the changing needs from the industry. Cleveland Hopkins International Airport is initiating plans to revamp its half-century-old airport with the future in mind, including plenty of electric-charging stations for both aircraft and cars. It may also include space for vertically taking off and landing aircraft and revamped airfield and terminal areas to accommodate smaller, electric-powered vehicles. Baiju Shah, President and CEO of the Greater Cleveland Partnership, emphasizes the importance of forward-thinking: "I think it’s critical for us to look into the future, understand the trends and technology and use that to inform the design." Cleveland Hopkins is currently in the early stages of planning a $2 billion overhaul of its aging terminal with plans to start construction in 2025. While Joby Aviation, a pioneer in electric aircraft, plans to build its first manufacturing plant in Southwest Ohio, other companies are actively developing small, electric-powered regional jets set to carry 30 passengers on short trips of 250 miles or more. The aviation landscape is poised for a transformation similar to the impact electric cars have had on ground transportation. Kevin Burke, President and CEO of Airports Council International-North America, remarks, "This is not the Jetsons, but we’re getting closer to it." Key considerations for airports preparing for an electric aircraft future include accommodating the substantial power demand of these vehicles, adjusting for smaller regional aircraft, and securing approval from regulatory bodies like the Federal Aviation Administration. Progress is already underway, with some experts predicting the presence of electric air taxis in the skies by 2025. The motivation behind this innovation extends beyond convenience, aiming to address the environmental impact of traditional air travel. The shift to electric aviation may take time, but the potential benefits include quieter flights, reduced maintenance costs, and overall lower operational expenses. While the complete electrification of long-distance aircraft might be decades away, airlines are already making strides in introducing smaller electric planes. Surf Air Mobility Inc. (NYSE:SRFM), a leading US regional air mobility platform and the largest commuter airline in the US by scheduled departures, is at the forefront of revolutionizing regional air travel by leveraging electrification and upgrading existing aircraft to substantially reduce the cost and environmental impact of air travel. Surf Air Mobility plans to deploy both electric and hybrid-electric aircraft across its network by upgrading existing aircraft with new engines opposed to developing new electric airplanes from the ground up. With its hybrid electric aircraft, the company can accelerate time to market because it won't need large investments into charging infrastructure to start flying like its fully-electric counterparts. Transforming Regional Air Travel through Electrification In pursuit of this vision, Surf Air is collaborating with commercial partners to develop electrified powertrain technology, aiming to retrofit existing fleets with electric propulsion and introduce electric aircraft on a large scale to the market. The company's leadership team, possessing extensive expertise in aviation, electrification, and consumer technology, is steering this ambitious initiative. Surf Air Mobility Inc. (NYSE:SRFM) plans to utilize regional airports, 5,000 of which are significantly underused, fostering shared private and commercial-like air services with small turboprop planes. With plans to expand across 30 regional networks, the company leverages its tech-enabled regional air mobility platform, enhancing accessibility to existing aircraft and pilot assets in the marketplace. Following its debut on the public market, Surf Air Mobility announced an exclusive partnership with Textron Aviation Inc., a subsidiary of Textron Inc. This strategic collaboration includes an order for 100 Cessna Grand Caravan EX aircraft. Deliveries of the initial 20 Cessna aircraft are scheduled to commence in the first half of 2024. These planes will undergo conversion to incorporate Surf Air Mobility 's proprietary electric or hybrid-electric powertrain technology. Surf Air Mobility aims to democratize access to electrified aircraft for both new and existing operators, intending to offer customers the advantages of cost-effective, low-emission air travel on a large scale. Additionally, the company will be the exclusive provider of certain battery electric and hybrid electric powertrain technology for the Cessna Grand Caravan to Textron Aviation. Surf Air Mobility plans to deploy both electric and hybrid-electric Cessna Grand Caravan aircraft across its network, facilitating direct short-haul services to connect more airports. Simultaneously, the company aspires to establish a regional mass transport platform that fosters sustainable connectivity among communities throughout the US. The anticipated benefits of the new electrified architecture include a substantial reduction in direct operating costs, with targets ranging from up to 25% to 50%, and a significant decrease in direct carbon emissions, with targets ranging from up to 50% to 100%, all while maintaining performance levels similar to the current models. Importantly, these aircraft have the potential to be operational at over 5,000 public-use airports across the US, with no need for charging stations in the case of hybrid-electric powertrain versions. Indeed, the dawn of the electric aircraft transition is coming and Surf Air Mobility are gearing up to fuel the evolution with greener, more affordable travel. Click on this link or check this investor presentation for more insights into Surf Air Mobility Inc. (NYSE:SRFM). Disclosure: 1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector. 2) The Article was issued on behalf of and sponsored by, Surf Air Mobility Inc. Market Jar Media Inc. has or expects to receive from Surf Air Mobility Inc..’s Digital Marketing Agency of Record (Native Ads Inc.) thirty-two thousand, eight hundred and ten USD for 36 days (26 business days). 3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. The author is wholly responsible for the validity of the statements. The author was not paid by Market Jar Media Inc. for this Article. Market Jar Media Inc. was not paid by the author to publish or syndicate this Article. Market Jar has not independently verified or otherwise investigated all such information. None of Market Jar or any of their respective affiliates, guarantee the accuracy or completeness of any such information. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Market Jar Media Inc. requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Market Jar Media Inc. relies upon the authors to accurately provide this information and Market Jar Media Inc. has no means of verifying its accuracy. 4) The Article does not constitute investment advice. All investments carry risk and each reader is encouraged to consult with his or her individual financial professional. Any action a reader takes as a result of the information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Market Jar Media Inc.'s terms of use and full legal disclaimer as set forth here. This Article is not a solicitation for investment. Market Jar Media Inc. does not render general or specific investment advice and the information on PressReach.com should not be considered a recommendation to buy or sell any security. Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on PressReach.com. 5) Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article. 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 management’s 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. 7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Surf Air Mobility Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Surf Air Mobility Inc. or such entities and are not necessarily indicative of future performance of Surf Air Mobility Inc. or such entities. 8) Investing is risky. The information provided in this article should not be considered as a substitute for professional financial consultation. Users should be aware that investing in any form carries inherent risks, and as such, there is a possibility of losing some or all of their investment. The value of investments can fluctuate significantly within a short period, and investors must understand that past performance is not indicative of future results. Additionally, users should exercise caution as transactions involving investments may be irreversible, even in cases of fraud or accidental actions. It is crucial to acknowledge that rapidly evolving laws and technical issues can have adverse effects on the usability, transferability, exchangeability, and value of investments. Furthermore, users must be cognizant of potential security risks associated with their investment activities. Individuals are strongly encouraged to conduct thorough research, seek professional advice, and carefully evaluate their risk tolerance before engaging in any investment endeavors. Market Jar Media Inc. is neither an investment adviser nor a broker-dealer. The information presented on the website is provided for informative purposes only and is not to be treated as a recommendation to make any specific investment. No such information on PressReach.com constitutes advice or a recommendation. Contact Details James Young +1 800-340-9767 campaigns@pressreach.com Company Website https://pressreach.com
November 15, 2023 09:00 AM Eastern Standard Time
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