Surf Air Mobility Inks $450 Million Deal With Jetstream Aviation Capital

Surf Air plans to build a regional air mobility ecosystem by developing a hybrid electric powertrain that will offer OEMs and third-party operators the ability to order new or upgrade existing aircraft with hybrid electric powertrains.

Michael Wildes

Tuesday, October 11, 2022 at 04:21 PM ET

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SAM says it will deploy the world's largest fleet of hybrid electric aircraft on existing and new regional airline routes. [Courtesy: Surf Air]

Key Takeaways:

Surf Air Mobility (SAM) has secured a $450 million aircraft financing agreement with Jetstream Aviation Capital to significantly expand its turboprop fleet.
The funding will allow SAM to acquire new and used Cessna Caravans and Pilatus PC-12s over the next six years, supporting its regional route expansion plans and increased customer demand.
This partnership underpins SAM's strategic focus on sustainable flying, including its ambition to deploy hybrid-electric aircraft, with Jetstream also expressing interest in purchasing up to 250 of SAM's hybrid-electric powertrains.

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Surf Air Mobility (SAM) has signed a $450 aircraft financing agreement with Jetstream Aviation Capital to grow its fleet of turboprop aircraft. Jetstream is the largest global aircraft lessor focused exclusively on commercially operated turboprop regional aircraft and engines.

The Miami-based leasing company is the largest global owner of Saab 340 and Saab 2000 aircraft and associated spares and engines, and has a sprawling portfolio of more than 150 aircraft, including Cessna Caravans, Embraer EMB-120s, and Pilatus PC-12s used for passenger and cargo. Jetstream will support Surf Air through an operating lease and sale agreement that allows the regional carrier to grow its fleet.