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Surf Air Mobility, a Los Angeles-based airline and air travel company, is working with Morgan Stanley and is expected to move forward with plans to go public through a direct listing.
The airline plans to file publicly as soon as possible next week to list and start trading this summer, according to A Bloomberg report Late Friday, which cited people familiar.
Surf Air said in November that it had Secretly submit a draft recording With the US Securities and Exchange Commission for direct listing. The filing followed the completion of a deal to go public through the SPAC merger. That deal valued the company at $1.42 billion.
Concurrent with the original SPAC deal, Surf Air also entered into a binding agreement to acquire Southern Airways Corp. in May 2022. Southern Airlines is described as the largest passenger operator of Cessna Grand Caravans in the United States.
separately , The Financial Times reported On Saturday that Vertical Aerospace (New York Stock Exchange: EVTL), a UK-based flying taxi startup, is delaying its entry into service by 2026.
The company told investors earlier this month that it was targeting certification from the British Civil Aviation Authority “by the end of 2026,” according to the Financial Times. This is the second time that the company has postponed granting the certificate since last April, when it postponed it to 2025 from 2024.
Vertical Aerospace (EVTL) goes public through de-spacing in late December 2021.
