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Market Gives Cool Reaction to Surf Air Mobility's NYSE Listing
The commuter flight operator aims to decarbonize its fleet by introducing hybrid-electric and all-electric aircraft including converted Cessna Caravans.
Some emerging advanced air mobility companies continue to face significant financial headwinds as witnessed by the decidedly cool market reaction to Surf Air Mobility’s direct listing on the New York Stock Exchange late on July 27. Ahead of the initial public offering, Surf Air merged with Southern Airways Express, which operates a fleet of turbine-powered Cessna Caravans mainly under FAA Essential Air Service contracts. Working with partners including MagniX and AeroTec, the company intends to convert existing aircraft to use electric propulsion systems.