Textron Aviation today announced Surf Air Mobility Inc., has
signed a purchase agreement for up to 150 Cessna Grand Caravan EX
single-engine turboprop aircraft, with an initial fleet order of
100 aircraft and an option for 50 more. The order, which is subject
to Surf Air Mobility obtaining financing, is part of an exclusive
relationship between the two companies supporting Surf Air
Mobility’s development of electrified Cessna Grand Caravan
aircraft, beginning with a hybrid electric Cessna Grand Caravan
aircraft powered by Surf Air Mobility’s proprietary powertrain
technology.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20210720005370/en/
Textron Aviation today announced Surf Air
Mobility Inc., has signed a purchase agreement for up to 150 Cessna
Grand Caravan EX single-engine turboprop aircraft, with an initial
fleet order of 100 aircraft and an option for 50 more. (Photo:
Business Wire)
The Cessna Grand Caravan EX is designed and manufactured by
Textron Aviation Inc., a Textron Inc. (NYSE:TXT) company.
Textron Aviation’s initial deliveries of the Cessna Grand
Caravan EX aircraft to Surf Air Mobility, a company accelerating
the adoption of electric regional air travel, are expected to begin
in Q2 2022. Surf Air anticipates that its hybrid electric system
for the Grand Caravan, upon certification, will power a 9-seat
variant of the iconic single-engine turboprop.
“Hybrid electric propulsion technology, deployed at scale for
environmental and commercial benefits, is an important part of the
future of travel,” said Ron Draper, President & CEO, Textron
Aviation. “This relationship with Surf Air Mobility leverages the
unique performance capabilities of the Cessna Grand Caravan in both
passenger and cargo operations and continues to demonstrate the
aircraft’s adaptability for innovative missions and
configurations.”
The hybrid electric Cessna Grand Caravan aircraft is anticipated
to be utilized by Surf Air Mobility across its own network,
connecting more airports with short-haul direct service across the
U.S. on a path to creating a regional mass transport platform to
sustainably connect communities.
“This is an opportunity to showcase the combined expertise and
technologies of both Textron Aviation and Surf Air Mobility,” said
Rob Scholl, senior vice president, Textron eAviation. “The
outstanding capabilities and versatility of the Grand Caravan make
it an ideal aircraft to take advantage of this new technology.”
“The Cessna Grand Caravan EX is one of the most adaptable and
prolific aircraft in flight today. Through this exclusive
relationship with Textron Aviation, we’re able to make electrified
aircraft broadly available to existing and new operators, and bring
the benefits of lower cost, lower emission air travel to customers
faster and at scale,” said Sudhin Shahani, Co-founder, CEO &
Executive Chairman, Surf Air Mobility. “We believe electrifying the
Cessna Grand Caravan is the most significant step that can be made
toward reduced emission flying with the quickest path to
market.”
The transactions between Textron Aviation and Surf Air Mobility
are subject to certain closing conditions, including the receipt of
financing by Surf Air Mobility.
About Textron Aviation
We inspire the journey of flight. For more than 90 years,
Textron Aviation Inc., a Textron Inc. company, has empowered our
collective talent across the Beechcraft, Cessna and Hawker brands
to design and deliver the best aviation experience for our
customers. With a range that includes everything from business
jets, turboprops, and high-performance pistons, to special mission,
military trainer and defense products, Textron Aviation has the
most versatile and comprehensive aviation product portfolio in the
world and a workforce that has produced more than half of all
general aviation aircraft worldwide. Customers in more than 170
countries rely on our legendary performance, reliability and
versatility, along with our trusted global customer service
network, for affordable and flexible flight.
For more information, visit www.txtav.com |
www.defense.txtav.com | www.scorpionjet.com.
About Textron Inc.
Textron Inc. is a multi-industry company that leverages its
global network of aircraft, defense, industrial and finance
businesses to provide customers with innovative solutions and
services. Textron is known around the world for its powerful brands
such as Bell, Cessna, Beechcraft, Hawker, Jacobsen, Kautex,
Lycoming, E-Z-GO, Arctic Cat, Textron Systems, and TRU Simulation +
Training. For more information, visit: www.textron.com
About Surf Air Mobility
Surf Air Mobility is a Los Angeles-based electric aviation and
air travel company reinventing flying through the power of
electrification. We are building the regional air infrastructure to
sustainably connect the world’s communities. The company has flown
the world’s largest hybrid electric aircraft, and intends to bring
electrified aircraft to market at scale in order to substantially
reduce the cost and environmental impact of flying. With a
management team of experts with deep experience across aviation,
electrification, and consumer technology, Surf Air Mobility is the
parent company of Surf Air, Blackbird, and has entered into a
definitive agreement to buy Ampaire. For more information, visit:
https://surfairmobility.com.
Certain statements in this press release may project revenues or
describe strategies, goals, outlook or other non-historical
matters; these forward-looking statements speak only as of the date
on which they are made, and we undertake no obligation to update
them. These statements are subject to known and unknown risks,
uncertainties, and other factors that may cause our actual results
to differ materially from those expressed or implied by such
forward-looking statements, including, but not limited to, changes
in aircraft delivery schedules or cancellations or deferrals of
orders, the risk that Surf Air Mobility does not meet expected
development timelines or realize the anticipated benefits of the
new propulsion system (including operations and environmental
benefits), the risk that Surf Air Mobility does not obtain FAA or
other certification for the hybrid electric Cessna Grand Caravan,
and risks related to market and customer acceptance of the
electrified aircraft.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210720005370/en/
Media:
Textron Aviation Sarah White +1.316.517.1499 swhite@txtav.com
txtav.com
Surf Air Mobility Analisa Schelle 510-292-5410 press@surfair.com
surfairmobility.com
Textron (NYSE:TXT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Textron (NYSE:TXT)
Historical Stock Chart
From Apr 2023 to Apr 2024