Surf Air Second-quarter Revenue and Losses Climb, Airline Ops Profitable | Aviation International News

Surf Air Second-quarter Revenue and Losses Climb

Adjusted EBITDA drop exceeded company’s expectations

Surf Air Cessna Caravan airplane — © Surf Air

By Matt Thurber • Editor-in-Chief

August 19, 2025

Regional air mobility operator, charter broker, and software developer Surf Air Mobility reported revenue of $27.4 million in the second quarter, up from $23.5 million in the first three months. Net loss in the quarter was $28 million, 51% higher than in the first quarter and “driven by a $2.6 million reduction in operating loss offset by a $12.2 million increase in other expenses, mainly due to non-cash changes in the fair value of financial instruments,” according to Surf Air.

Surf Air is “one of the largest commuter airlines in the U.S. by scheduled departures” and operates the largest fleet of Cessna Caravan turboprop singles. The company’s flight operations are conducted by Southern Airways Express, which Surf Air purchased in July 2023, and Hawaii-based Mokulele Airlines, which Southern acquired in 2019.

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