Aircraft
Surf Air Signs $450M Funding Commitment with Jetstream
Jetstream Aviation Capital is providing $450 million in funding for Surf Air Mobility to expand its fleet.
Surf Air Mobility scuttled its plans in April to acquire Ampaire, which is developing a hybrid-electric version of the Cessna Grand Caravan. (Photo: Surf Air Mobility)
Surf Air Mobility scuttled its plans in April to acquire Ampaire, which is developing a hybrid-electric version of the Cessna Grand Caravan. (Photo: Surf Air Mobility)

Surf Air Mobility (SAM) today signed a $450 million facility with Jetstream Aviation Capital to fund planned growth of its turboprop fleet. Jetstream, a U.S. leasing group specializing in commercially operated turboprop regional aircraft and engines, also agreed to purchase up to 250 hybrid- and all-electric propulsion systems for existing aircraft from SAM.

Los Angeles-based SAM will gain access to the financing facility over the next six years for both new and used Cessna Caravans and Pilatus PC-12s, subject to separate binding purchase and lease agreements for each individual aircraft.