News Release
Dutch Startup Plans to Transform Air Travel with 80-Seater Hybrid-Electric Plane
MarketJar
Maeve Aerospace, an aircraft startup backed by the Dutch government, is developing an 80-seater hybrid-electric plane as part of broader efforts within the aviation sector to reduce carbon emissions. 1 The aircraft, originally launched in 2022 as the Echelon 01 and later rebranded as the Maeve 01, has undergone several redesigns. The latest adjustments include an oval-shaped body, shorter wings and the replacement of four electric motors with two hybrid-electric engines. According to the company, the M80 aircraft will have an expected range of 1,482 kilometers and a 40% reduction in fuel burn compared to similarly sized regional jets. While the original timeline for the Maeve 01 was to fly in 2028 and obtain certification by 2030, the changes have extended the concept phase to mid-2026, with type approval and customer deliveries now slated for 2031. 2 The maximum take-off weight is now set at 28.9 tons, with a maximum payload of 8.5 tons. The company aims to replace Bombardier CRJ-series jets or the De Havilland Canada Dash 8 twin-turboprop with the M80, targeting jet performance to attract interest from operators. Alongside the aircraft design changes, Maeve is expanding its footprint by opening a new German engineering office near Munich in 2023. The location of the M80's final assembly line is yet to be decided. As airlines and aircraft manufacturers face increasing pressure to adopt decarbonization measures, Europe is experimenting with new aviation technologies, driven by the European Union's commitment to achieving climate neutrality in the bloc's economy by 2050. At the same time in the United States, ongoing initiatives to develop zero-emission aircraft are gaining momentum. Surf Air Mobility Inc. (NYSE:SRFM), the largest commuter airline in the US in terms of scheduled departures, is taking a lead role in reshaping regional air travel by dedicating itself to electrification. Revolutionizing Regional Air Travel Through Electrification Based in Los Angeles, Surf Air Mobility Inc. (NYSE:SRFM) operates as a regional air mobility platform with the mission of transforming regional air travel through the adoption of electrification. The company's goal is to significantly decrease the cost and environmental impact associated with air travel. Surf Air Mobility is actively collaborating with commercial partners to advance powertrain technology, which it believes will enable the electrification of existing fleets and the widespread introduction of new electric aircraft to the market. The management team brings extensive expertise in aviation, electrification, and consumer technology to the forefront of this endeavor. Surf Air Mobility recently inked an agreement with Purdue University to launch a privately subsidized commuter air service connecting West Lafayette/Purdue University Airport (LAF) and Chicago O'Hare Airport (ORD). The anticipated start date for this commuter air service is early in the second quarter of 2024. Purdue University is providing funding to support the program's establishment and ongoing operations, aiming to offer convenient and efficient connections for students, faculty, staff, families, and the community between West Lafayette and Chicago O'Hare, the fourth busiest airport in America. The flight operations for this program will be managed by Southern Airways Express, an airline subsidiary of Surf Air Mobility. The collaboration aims to provide up to four daily flights, eliminating the need for a lengthy drive by allowing travelers arriving at O'Hare to fly directly to West Lafayette. This initiative mirrors the model established by Surf Air Mobility through its existing federal contracts in the Essential Air Service (EAS) program, which offers subsidized routes to connect underserved communities. The partnership with Purdue University replicates the EAS model but involves a private institution, removing the necessity for federal funding and bringing essential air service to an underserved regional airport. “We’re excited to take the basic principle of the EAS program and build on its success with Purdue University. We hope this will be a model we can replicate with other non-urban universities and private companies in the future,” said Stan Little, CEO of Surf Air Mobility. “As the growth in Regional Air Mobility continues, partners like Purdue University will be integral to accelerating a new kind of mass transportation solution that uses smaller aircraft connecting smaller regional airports to the nation’s air infrastructure.” The newly signed deal will reinstate regular flights on this route after almost 20 years, scheduling 24 round-trip flights each week. Southern Airways will conduct these flights with their Cessna Grand Caravan turboprop planes, accommodating nine passengers and two pilots. Travelers from West Lafayette will benefit from hassle-free transfers at the hub, due to Southern's partnership agreements with major airlines like United, American, and Alaska. For convenience, tickets are available for purchase on prominent airline websites such as United.com, AA.com, and AlaskaAir.com. Purdue University's contribution includes providing the use of its refurbished passenger terminal, hangar space, and ramp access for Southern's personnel. Additionally, Southern will offer job opportunities to qualified students both before and after graduation, with Purdue having the opportunity to recoup some or all of its investment should passenger counts exceed projected levels. Click on this link or check this investor presentation to learn more about Surf Air Mobility Inc. (NYSE:SRFM). Footnotes: [1] https://www.bnnbloomberg.ca/aircraft-startup-to-develop-hybrid-electric-plane-1.2010034 [2] https://www.flightglobal.com/air-transport/maeve-aerospace-aims-higher-with-larger-hybrid-electric-aircraft-design/156154.article 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. 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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. 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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. 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December 13, 2023 02:06 PM Eastern Standard Time
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