Thursday, August 24, 2023

Surf Air Mobility Completes Acquisition of Southern Airways


Surf Air Mobility Completes Acquisition of Southern Airways



Combination Creates the Largest Commuter Airline in the U.S.

LOS ANGELES--()--Surf Air Mobility Inc. (“Surf Air Mobility” or “SAM”), a regional air mobility platform aiming to sustainably connect the world’s communities, announced today that the transaction between Surf Air Mobility and Southern Airways (“Southern”) closed immediately prior to the listing of Surf Air Mobility on the New York Stock Exchange under the ticker symbol “SRFM” on July 27, 2023. The combination of Surf Air Mobility and Southern will provide the basis for SAM’s anticipated expanded, nationwide regional air mobility platform. Following the close of the transaction on July 27, 2023, Surf Air Mobility has 69,742,981 basic shares outstanding and 71,603,186 fully diluted shares outstanding.

Operational and Financial Highlights, Surf Air and Southern together:

  • 450,000 passengers across 48 cities with over 75,000 departures in 2022
  • Revenue of $100.6 million for the full year 2022, up 44.6% YoY on a combined basis2
  • Operating loss of $(111.7) million for the full year 2022, inclusive of $(33.4) million one-time transaction related expenses and $(38.2) million in stock based compensation
  • Cash on hand at July 27, 2023 of $34.7 million, with the ability to draw $100 million in cash advances under the GEM share subscription facility3
  • Aircraft financing facility with Jetstream for up to $450 million to finance further expansion
  • Fleet order with Textron Aviation Inc. to enable the growth of SAM’s fleet by up to 150 Cessna Grand Caravans
  • Exclusive provider to Textron Aviation Inc. of battery electric and hybrid electric powertrain technology for the Cessna Grand Caravan

Surf Air Mobility also announced that it will release its financial results for the second quarter of 2023 and provide outlook for the full year 2023 the week of August 14, 2023.

“Surf Air Mobility is building a regional air mobility platform to sustainably connect the world’s communities. We are thrilled to announce the completion of our transaction, combining Surf Air and Southern into Surf Air Mobility, the largest commuter airline in the US by scheduled departures. We are now well-positioned to build a platform that delivers accessible, affordable, and sustainable regional travel for our customers,” said Stan Little, CEO of Surf Air Mobility. “Our public listing is just the beginning, and we look forward to sharing our journey as we execute on our vision to advance the future of flight.”

Surf Air Mobility intends to accelerate the adoption of green flying by developing, together with its commercial partners, hybrid-electric and fully-electric powertrain technology to upgrade existing fleets. By creating a financing and services infrastructure to enable this transition at an industry-wide level, Surf Air Mobility believes it can bring electrified aircraft to market at scale and substantially reduce the cost and environmental impact of regional flying. Surf Air Mobility believes such cost and environmental impact reductions are achievable by the end of the decade, and that operating as a publicly-traded company and having efficient access to growth capital will enable and accelerate the implementation of its strategic plan.

Sudhin Shahani, co-founder of Surf Air Mobility, continued, “Our end-state is electrification, but our flywheel begins with flying more passengers via network expansion and providing solutions to operators via Aircraft-as-a-Service (ACaaS), which we believe will drive growth in the near- and mid-term. Surf Air Mobility is a scaled – and growing – regional air travel company today, and we believe our path to electrification via supplemental type certification (‘STC’) will position us as a capital efficient, technology-enabled, first mover in the regional air ecosystem.”



CaravanNation.com

Tuesday, July 18, 2023

Tragic Caravan Crash at Skydive Warszawa

 



As reported by AP 

WARSAW, Poland -- Five people were killed and eight others were injured Monday when a Cessna 208 plane crashed into a hangar at a sky diving center during bad weather, authorities said.

The plane's pilot and four people sheltering in the hangar from stormy weather died in the afternoon crash in Chrcynno in central Poland, firefighters spokesperson Monika Nowakowska-Brynda said.

An additional eight people were injured, two of them seriously, police said. A child was among the injured, the provincial governor, Sylwester Dabrowski, said.

Chrcynno is about 45 kilometers (28 miles) northwest of Warsaw.

Firefighters and airborne ambulances took the injured to hospitals in the Nowy Dwor Mazowiecki area.

Rescuers were still checking the hangar for additional victims, said Katarzyna Urbanowska, another spokesperson for local firefighters.

Prosecutors and police were investigating the cause of the accident.

It was the worst accident related to sky diving in Poland since 2014, when 11 people were killed in a crash of a small plane in Topolow, near the southern city of Czestochowa.




According to ASN:


Operator:Skydive Warsaw
Registration:SP-WAW
MSN:208B0854
First flight:2000
Engines:Pratt & Whitney Canada PT6A-114A
Crew:Fatalities: 1 / Occupants: 3
Passengers:Fatalities: 0 / Occupants: 0
Total:Fatalities: 1 / Occupants: 3
Ground casualties:Fatalities: 4
Aircraft damage:Damaged beyond repair
Location:Chrcynno Airfield (   Poland)
Phase:Initial climb (ICL)
Nature:Training
Departure airport:Chrcynno Airfield (EPNC), Poland
Destination airport:Chrcynno Airfield (EPNC), Poland

Narrative:
A Cessna 208B Grand Caravan skydiving plane crashed into a hangar while performing touch-and-goes as part of a training flight. Gusty conditions were reportedly present at the time of the accident.


Witnesses spoke of a thunderstorm that had passed over the area and strong winds. Many people who were around the airfield were seeking shelter in the hangar. One of the three pilots sustained fatal injuries and the fire service confirmed a total of five fatalities and five injuries.

The accident occurred around 17:00-18:00 UTC. Weather reported at the Modlin Airport, 18 km SW of Chrcynno:
EPMO 171800Z 17012G22KT 140V210 9999 SCT035CB 21/18 Q1014 RETS
EPMO 171730Z 25013KT 9999 VCTS SCT056CB 30/11 Q1013
EPMO 171700Z 27011KT 9999 FEW048CB SCT055TCU 30/11 Q1013
EPMO 171630Z 24011KT 9999 FEW055TCU 30/13 Q1013








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An Air Nation Group website

Friday, January 20, 2023

The 3,000th Cessna Caravan Delivered!

WICHITA, Kan. (January 13, 2023) – Textron Aviation today announced it has delivered a Cessna Grand Caravan EX to Brazilian aviation company Azul Conecta, a subsidiary of Azul Airlines based at the airport of Jundiai in São Paulo. This aircraft represents the 3,000th Cessna Caravan family turboprop delivered worldwide, reinforcing the Caravan as the most popular utility turboprop in the world. Azul Conecta transports travelers from smaller cities and remote locations throughout Brazil.

Textron Aviation delivers 3,000th Cessna Caravan family aircraft

The Cessna Caravan and Cessna Grand Caravan EX are designed and manufactured by Textron Aviation Inc., a Textron Inc. (NYSE:TXT) company.

Textron Aviation employees and representatives from Azul Conecta celebrated this significant milestone with a special delivery ceremony at Textron Aviation’s location in Independence, Kansas.

“The Cessna Caravan’s versatility and reliability have made it the most popular aircraft in the utility turboprop category, with now 3,000 delivered globally,” said Lannie O’Bannion, senior vice president of Sales and Flight Operations at Textron Aviation. “I’m thankful to customers like Azul Conecta who continuously rely on the Caravan family of aircraft to fulfill their missions, deliver solutions and improve lives around the world.”

Conceived as a rugged utility aircraft with low operating costs, the Caravan was designed for use in remote areas with extreme weather changes, mountainous terrain and rough landing conditions. The aircraft’s versatility became renowned in all corners of the world, and the Caravan continues to see wide use in global markets by a variety of customers, including government agencies, law enforcement and militaries, air ambulance operators, freight haulers, corporations and humanitarian organizations.

“This Grand Caravan EX will proudly fly the Brazilian skies and connect our 158 destinations, many of which are made possible by the aircraft’s utility and flexibility,” said Flavio Costa, chief technical officer of Azul and president of Azul Conecta. “As a longtime Textron Aviation customer with a fleet of over 25 Cessna aircraft, we are happy to be a part of this important milestone.”

Customers can choose between four models of the Cessna Caravan aircraft to best fit their mission: the Caravan 208, the Grand Caravan EX 208B, the Caravan Amphibian and the Grand Caravan EX Amphibian.

Cessna Caravan program milestones

  • 1981    Cessna launched the Caravan program
  • 1982    First flight of Caravan 208 prototype
  • 1984    Caravan 208 received FAA type certification
  • 1985    Cessna began deliveries of the Caravan 208
  • 1985    Caravan 208 approved for amphibious floats
  • 1986    Caravan 208B Super Cargomaster, stretched by four feet in a freight specific configuration, received FAA type certification
  • 1990    First production Grand Caravan 208B delivered
  • 1998    Delivery of 1,000th production Caravan 208
  • 1998    Cessna began deliveries of the new standard Caravan 208, a Caravan 208 that features a Pratt & Whitney Canada PT6A-114A engine rated at 675 shaft horsepower
  • 2002    Delivery of 1,000th Grand Caravan 208B
  • 2005    Delivery of 1,500th production Cessna 208
  • 2008    Garmin G1000 becomes standard avionics equipment
  • 2008    TKS ice protection offered
  • 2013    Cessna began deliveries of Grand Caravan EX 208B, featuring a Pratt & Whitney Canada PT6A-140 engine rated at 867 shaft horsepower
  • 2017   G1000 NXi becomes standard on Caravan and Grand Caravan EX 
  • 2022    3,000th Caravan, a Grand Caravan EX, delivered to Azul Conecta

 


DJYO_0066.jpg
  •  JPG

Textron Aviation employees at the Independence, Kansas, facility, celebrate the 3,000th Cessna Caravan.

DJZK_0105.jpg
  •  JPG

Azul Conecta takes delivery of the 3,000th Cessna Caravan.





CaravanNation.com