A rendering of the soon-to-be-created electric Cessna Grand Caravan. [Courtesy: Surf Air Mobility]
Key Takeaways:
Surf Air Mobility (SAM) announced a $1.42 billion SPAC merger with Tuscan Holdings Corp. II, positioning it to become a publicly listed company.
SAM will also merge with Southern Airways Corporation, a major U.S. regional airline, to create a national air travel platform.
The company plans to accelerate the commercialization of hybrid-electric aircraft by upgrading Southern's fleet of Cessna Grand Caravans with proprietary electrified powertrain technology.
SAM is partnering with AeroTEC and magniX to develop these hybrid-electric powertrains, aiming to deploy the world's largest fleet of such aircraft on regional routes.
California-based company Surf Air Mobility Inc. (SAM) made a series of announcements Monday that could surely shake up the hybrid-electric market.
First, the company announced that it will merge with Tuscan Holdings Corp. II (NASDAQ: THCA), a special purpose acquisition company (SPAC), in a deal valued at $1.42 billion, allowing SAM to become a publicly listed company.
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Michael Wildes holds a master’s degree in Logistics & Supply Chain Management, and a bachelor’s degree in Aeronautical Science, both from Embry-Riddle Aeronautical University. Previously, he worked at the university’s flight department as a Flight Check Airman, Assistant Training Manager, and Quality Assurance Mentor. He holds MEI, CFI & CFII ratings. Follow Michael on Twitter @Captainwildes.
