Textron Aviation announces order for up to 150 Cessna Grand Caravan EX aircraft to aid Surf Air Mobility in accelerating electrified commercial travel

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.

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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.

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