Surf Air Mobility Enters Agreement To Supply Electric Powertrains To Tanzanian Cessna Caravan Operator Auric Air; Financial Terms Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
Surf Air Mobility Inc. (NYSE:SRFM) has signed a memorandum of understanding with Tanzanian air operator Auric Air to upgrade up to 12 Cessna Grand Caravan aircraft with Surf Air's electrified powertrains. This agreement aims to reduce emissions and direct operating costs significantly. Surf Air, which is developing both hybrid and fully-electric variants for the Cessna Grand Caravan, now covers approximately 13% of the Cessna Caravan market in Africa. The company has also secured similar agreements with other air operators in East Africa and Brazil, highlighting its commitment to reducing the environmental impact of flying.
March 22, 2024 | 12:32 pm
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Surf Air Mobility Inc. has entered into a significant partnership with Auric Air to electrify Cessna Grand Caravan aircraft, marking a strategic move to expand its market share in Africa and demonstrating its commitment to sustainable aviation.
The agreement with Auric Air signifies Surf Air Mobility's expansion in the African market and its commitment to sustainable aviation solutions. By securing approximately 13% of the Cessna Caravan market in Africa for upgrades to its electrified powertrains, Surf Air is positioned to become a leader in the region's sustainable aviation sector. This strategic move is likely to be viewed positively by investors, as it not only expands Surf Air's market presence but also aligns with global trends towards greener transportation solutions.
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