Latest news with #airmobility
Yahoo
2 days ago
- Business
- Yahoo
Archer Lands $250 Million Indonesia eVTOL Deal
Archer Aviation (NYSE:ACHR) shares are ticking in the green after the eVTOL maker inked a deal with Indonesia's PT. Industri Ketahanan Nasional will introduce up to 50 Midnight aircraftvalued at $5 million apieceto the Southeast Asian archipelago. Under the nonbinding agreement, PT. Warning! GuruFocus has detected 2 Warning Sign with ACHR. IKN will deploy an initial fleet for air taxis, military logistics, cargo delivery and environmental surveillance in and around the new capital, Ibu Kota Nusantara, with an $18 million pilot program providing pilots, technicians, software and booking tools. The partners will work with Indonesia's Directorate General of Civil Aviation to craft regulations and infrastructure ahead of launch. This marks Indonesia as the third market in Archer's Launch Edition global rollout, following deals in the UAE and Ethiopia, and underscores CEO Adam Goldstein's view of the archipelago's island geography and tourism growth as ideal for eVTOL deployment. Archer's recent $850 million capital raise has boosted liquidity to roughly $2 billion, positioning the company to scale production250 Midnights are slated for 2025and build out charging and vertiport networks. The firm is also integrating AI-driven flight operations and safety via partnerships with Palantir (PLTR). Why it matters: Securing a third early-adopter market validates Archer's blueprint for global commercial air mobility ahead of full FAA certification, de-risking expansion and reinforcing its first-mover advantage. Analysts see Archer Aviation trading at about $10.40 today and climbing to an average target of $12.31 over the next yearimplying nearly 19% upside. In a best-case scenario, bullish forecasts stretch as high as $18, while the bears warn the shares could fall to around $4.50 if execution or certification hiccups arise. This article first appeared on GuruFocus. Sign in to access your portfolio
Globe and Mail
3 days ago
- Business
- Globe and Mail
Surf Air Mobility Reports Key Achievements in Optimization Phase of Transformation Plan
LOS ANGELES– June 17, 2025 — Surf Air Mobility Inc. (NYSE:SRFM) ('the Company', 'Surf Air Mobility'), a leading regional air mobility platform, today announced key progress within the second phase of the Company's four-phase Transformation Plan. The Optimization phase is focused on operational improvements and internal SurfOS™ technology deployment to achieve profitability in the Company's airline operations this year, defined as positive Adjusted EBITDA. Recent Optimization phase key achievements include: Optimize airline operations (Southern Airways and Mokulele Airlines) Steadily improved controllable completion factor 1 over the past several months with an increase of 10% compared to FY24. Steadily improved D0 (on time departures) over the past several months with an increase of 21% compared to FY24. Steadily improved A14 (arrivals within 14 minutes of planned schedule) over the past several months with an increase of 21% compared to FY24. Recently won a bid contract renewal in one Essential Air Service community, resulting in ~$9.9 million of additional subsidy revenue over the next 4 years. Controllable completion factor, D0, and A14, are currently the highest on record since January 2023, and the Company believes the continued improvements to operational reliability will further strengthen customer satisfaction and position the airline for long-term, profitable growth. Recalibrate the On Demand business The Surf On Demand business has now worked with over 425 operators since inception. Drive efficiencies from SurfOS Pilot reporting for non-regulatory filings of Flight Risk Assessment Tool (FRAT) reports have doubled since the launch of the Company's Crew App, strengthening its safety culture, enhancing its operational visibility, and enabling proactive risk mitigation. The Company attributes much of the operational improvement to steps taken by its strengthened senior leadership team with talent from Southwest, Flexjet, and Amazon Air, as well as the significant investments made in refurbishing aircraft, introducing new Cessna Caravans into service, and the broadening internal adoption of SurfOS. Deanna White, CEO and COO of Surf Air Mobility, said: 'The primary objective of the Optimization phase of our Transformation Plan is to build a more efficient and profitable organization to set the foundation from which to expand our network and accelerate our growth. These recent results illustrate the impact of the significant investments we've made across the organization and within our fleet. These improved metrics reflect a tangible return on investment and highlight the results and execution momentum of our Transformation Plan.' Surf Air Mobility remains on track to enter the third phase of the Company's Transformation Plan, 'Expansion,' in 2026, within which the Company plans to launch new scheduled routes and offer SurfOS to third-party customers. About Surf Air Mobility Surf Air Mobility is a Los Angeles-based regional air mobility platform and one of the largest commuter airlines in the U.S. by scheduled departures. It is also the largest U.S. passenger operator of Cessna Caravans. In addition to its airline operations and On Demand charter services, Surf Air Mobility is developing an AI-powered software platform for the Regional Air Mobility industry. The company is also working to commercialize electrified aircraft and develop proprietary powertrain technology for the Cessna Caravan. Surf Air Mobility plans to offer its software and electrification solutions to the Regional Air Mobility industry to improve safety, efficiency, and profitability. Forward-Looking Statements This Press Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Surf Air's profitability and future financial results and its ability to achieve its business objectives. Readers of this release should be aware of the speculative nature of forward-looking statements. These statements are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company and reflect the Company's current views concerning future events. As such, they are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, among many others: Surf Air's ability to anticipate the future needs of the air mobility market; Surf Air's future ability to pay contractual obligations and liquidity will depend on operating performance, cash flow and ability to secure adequate financing; the dependence on third-party partners and suppliers for the components and collaboration in Surf Air's development of its advanced air mobility software platform, and any interruptions, disagreements or delays with those partners and suppliers; the inability to execute business objectives and growth strategies successfully or sustain Surf Air's growth; the inability of Surf Air's customers to pay for Surf Air's services; the inability of Surf Air to obtain additional financing or access the capital markets to fund its ongoing operations on acceptable terms and conditions; the outcome of any legal proceedings that might be instituted against Surf Air, the risks associated with Surf Air's obligations to comply with applicable laws, government regulations and rules and standards of the New York Stock Exchange; and general economic conditions. These and other risks are discussed in detail in the periodic reports that the Company files with the SEC, and investors are urged to review those periodic reports and the Company's other filings with the SEC, which are accessible on the SEC's website at before making an investment decision. The Company assumes no obligation to update its forward-looking statements except as required by law.
Yahoo
3 days ago
- Business
- Yahoo
Archer Lands $250 Million Indonesia eVTOL Deal
Archer Aviation (NYSE:ACHR) shares are ticking in the green after the eVTOL maker inked a deal with Indonesia's PT. Industri Ketahanan Nasional will introduce up to 50 Midnight aircraftvalued at $5 million apieceto the Southeast Asian archipelago. Under the nonbinding agreement, PT. Warning! GuruFocus has detected 2 Warning Sign with ACHR. IKN will deploy an initial fleet for air taxis, military logistics, cargo delivery and environmental surveillance in and around the new capital, Ibu Kota Nusantara, with an $18 million pilot program providing pilots, technicians, software and booking tools. The partners will work with Indonesia's Directorate General of Civil Aviation to craft regulations and infrastructure ahead of launch. This marks Indonesia as the third market in Archer's Launch Edition global rollout, following deals in the UAE and Ethiopia, and underscores CEO Adam Goldstein's view of the archipelago's island geography and tourism growth as ideal for eVTOL deployment. Archer's recent $850 million capital raise has boosted liquidity to roughly $2 billion, positioning the company to scale production250 Midnights are slated for 2025and build out charging and vertiport networks. The firm is also integrating AI-driven flight operations and safety via partnerships with Palantir (PLTR). Why it matters: Securing a third early-adopter market validates Archer's blueprint for global commercial air mobility ahead of full FAA certification, de-risking expansion and reinforcing its first-mover advantage. Analysts see Archer Aviation trading at about $10.40 today and climbing to an average target of $12.31 over the next yearimplying nearly 19% upside. In a best-case scenario, bullish forecasts stretch as high as $18, while the bears warn the shares could fall to around $4.50 if execution or certification hiccups arise. This article first appeared on GuruFocus.
Zawya
4 days ago
- Automotive
- Zawya
Kintsugi Holding Subsidiary Autocraft signs strategic MoU with GMF AeroAsia
Abu Dhabi, UAE – Kintsugi Holding, the UAE government-owned AI and technology group, has expanded its global footprint in advanced mobility through a strategic Memorandum of Understanding (MOU) signed between its aviation subsidiary, Autocraft, and GMF AeroAsia, Indonesia's leading aerospace maintenance provider. Signed during the Indonesia Defence Expo & Forum 2025, the MOU marks a pivotal step towards building a sustainable ecosystem for electric vertical take-off and landing (eVTOL) aircraft across Southeast Asia. It establishes GMF as the official MRO (Maintenance, Repair, and Overhaul) partner for Autocraft's flagship aircraft, the E20+, while also outlining pathways for knowledge transfer, technical training, and regulatory alignment in support of future air mobility. 'This partnership with GMF marks a major step in our mission to localise next-generation aviation support capabilities,' said Tareq AlBannay, Vice President – Future Systems at Kintsugi Holding. 'Together, we're building the groundwork for a self-reliant ecosystem that supports the introduction and sustainability of clean air mobility in Indonesia.' Andi Fahrurrozi, CEO of GMF AeroAsia, added: 'Welcoming Autocraft's zero-emission air mobility concept reflects our long-term commitment to shaping a transformative, sustainable aviation sector. This collaboration is a strategic leap forward for Indonesia—one that unites engineering strength, environmental responsibility, and long-term business growth.' The agreement reflects both parties' ambition to elevate regional aviation resilience and contribute to global sustainability goals. Under the scope of the MOU, Kintsugi's Service & Operations team will work closely with GMF on frameworks for diagnostics, upgrades, and readiness of the E20+ platform, with full compliance to Indonesia's regulatory environment. The announcement coincided with Kintsugi Holding's wider participation at the Indo Defence Expo, where its mobility-focused subsidiaries, Autocraft and Eneron, showcased next-generation innovations across air and land platforms. Eneron presented its Magnum MK1 hybrid patrol vehicle, designed for tactical, police, and urban enforcement operations. Following its previous showcases at IDEX 2025 and GITEX Global, the Eneron Magnum attracted significant interest from Indonesian leadership, including senior representatives of TNI and Polri, who visited the vehicle at the UAE delegation booth. 'We've been encouraged by the strong interest in our vehicles. Indonesia is an exciting market, and as a UAE-based company, we're always looking to build meaningful partnerships across the region,' said Tareq AlBannay. Both Autocraft's E20+ eVTOL and Eneron's Magnum MK1 reflect Kintsugi Holding's vision to drive high-impact, future-ready solutions across mobility, defence, and sustainability. The group continues to extend its operational reach, aligning with regional partners to advance technological sovereignty and capacity building. About Kintsugi Holding: Kintsugi Holding is a UAE government-owned innovation group focused on designing and delivering future-oriented technologies across mobility, aerospace, defence, AI, and other emerging sectors. Headquartered in Abu Dhabi, Kintsugi operates through a growing portfolio of specialised subsidiaries—including Autocraft and Eneron—each developing intelligent, adaptable solutions aligned with global sustainability goals. Through innovation and international collaboration, Kintsugi is helping to shape the future of technology and industry. For media inquiries, please email Arina Nekrasova at Zest Communications, arina@
Khaleej Times
6 days ago
- Automotive
- Khaleej Times
Watch: Abu Dhabi conducts test flight of driverless flying taxi
Abu Dhabi has taken a giant step into the future of air mobility with the landmark public demonstration of a test flight of an autonomous flying taxi conducted in the Capital. In a 50-second video clip released by Abu Dhabi Investment Office (ADIO) on Friday, the electric driverless vertical take-off and landing (eVTOL) aircraft is shown taking off from the helipad of Abu Dhabi Cruise Terminal, and cruising above the Abu Dhabi Marina. Watch the video here: ADIO, in collaboration with @ehang and @multilevelgroup, hosted a landmark test flight of an autonomous electric vertical take-off and landing (eVTOL) aircraft in Abu Dhabi. @saviabudhabi @gcaauae Learn more: #InvestWithAbuDhabi — Abu Dhabi Investment Office (@InvestAbuDhabi) June 13, 2025 The test flight was conducted with the support of Smart and Autonomous Systems Council (SASC), Abu Dhabi Investment Office (ADIO), in collaboration with Chinese technology company EHang and Multi Level Group (MLG). ADIO did not mention how many minutes the EHang-powered flying taxi was up in the air but underscored the test flight 'was aimed at evaluating the efficiency and operational capabilities of flying taxis.' 'The trial was also a pivotal step towards integrating urban air mobility into everyday life,' ADIO noted, adding, 'The (test flight) validated critical technologies, including hot-weather performance in Abu Dhabi's climate alongside airspace coordination, route planning and vertiport operations.' 'Conducted under the oversight of the UAE's General Civil Aviation Authority (GCAA), the flight provided live proof of the regulatory, operational and infrastructure frameworks essential for safely scaling this new mode of transport,' ADIO continued. 'We are proving that urban air taxis will be a part of everyday life, here in Abu Dhabi and around the world. This is how we diversify our economy, cultivate homegrown capabilities and make the emirate a global leader in next-generation transport,' added Badr Al Olama, director-general at ADIO. Two-seater flying taxi The flying taxi tested was EHang's EH216‑S. It is touted as the world's first certified, pilotless, two-seater eVTOL aircraft. The EH216-S features eight arms equipped with 16 propellers. Each propeller is powered by a dual-motor system, totalling 32 independent electric motors. According to EHang, the design ensures efficient vertical take-off and landing capabilities with a high level of operational safety and redundancy or the practice of having multiple independent safety systems in place to ensure that if one system fails, another will take over. ADIO noted the Chinese technology-powered flying taxi is 'tailored for urban environments and purpose-built for applications such as sightseeing, short-distance connections and tourism.' It operates with minimal noise and no runway, making it ideally suited to the evolving infrastructure of future cities. Meanwhile, EHang earlier confirmed plans to establish regional operations in Abu Dhabi, including a final assembly line and support facilities, according to ADIO.
