Aircraft
Surf Air IPO To Fund Hybrid-electric Fleet Conversions
Surf Air Mobility expects to raise $467 million through an IPO, which would fund conversion of its Cessna Grand Caravan fleet to hybrid-electric power.
Surf Air Mobility's IPO-funded expansion plans focus on converting Cessna Grand Caravan aircraft to hybrid-electric propulsion, using a powertrain developed by MagniX. (Image: Surf Air Mobility)
Surf Air Mobility's IPO-funded expansion plans focus on converting Cessna Grand Caravan aircraft to hybrid-electric propulsion, using a powertrain developed by MagniX. (Image: Surf Air Mobility)

Flight-booking platform Surf Air Mobility (SAM) intends to go public after combining its business with special purpose acquisition company Tuscan Holdings, the companies said today. SAM expects the deal to raise around $467 million to fund its effort to introduce electric aircraft to the fleets of its partner operators.