From ARK to the Skies: Cathie Wood's Big Bet on Flying Taxi Startups | News Direct

From ARK to the Skies: Cathie Wood's Big Bet on Flying Taxi Startups

News release by MarketJar

facebook icon linkedin icon twitter icon pinterest icon email icon Vancouver, BC | February 15, 2024 11:59 AM Eastern Standard Time


In the investment world, few names carry as much weight as Cathie Wood.

Renowned for her visionary strategies and keen eye for disruptive technologies, Wood’s Ark Investments has made waves with her recent investments in the electric aviation sector.

Archer Aviation (NYSE: ACHR), an electric aircraft developer backed by industry heavyweights Boeing and United Airlines, saw a surge in interest after Wood's investment of over $30 million in August.1

Archer develops electric vertical takeoff and landing (eVTOL) aircraft for urban landscapes with the purpose of establishing a reliable air taxi service. Last summer, the Federal Aviation Administration issued the company's flagship Midnight eVTOL a Special Airworthiness Certificate, allowing it to begin test flights. Archer intends to commence piloted "for credit" flight testing in early 2024 with the goal of obtaining FAA Type Certification.

In addition to her investment in Archer Aviation, Wood has also set her sights on Joby Aviation, a leader in the race to develop all-electric air taxis.

Through her company Ark Invest, Wood acquired nearly $2 million worth of shares in Joby Aviation (NYSE: JOBY), recognizing the company's potential to transform urban mobility with its innovative technology.

Joby Aviation just announced a significant deal with Dubai’s Road and Transport Authority (RTA) to introduce air taxi services in the Emirate by early 2026, with initial operations targeted for 2025.2

This exclusive agreement, signed at the World Governments Summit in Dubai, grants Joby Aviation the sole rights to operate air taxis in Dubai for six years, positioning the city as a global leader in clean and efficient air travel. With the support of the RTA, including financial backing, Joby aims to establish and expand its service operations seamlessly in Dubai.

Amidst the excitement surrounding Archer and Joby, another player has quietly emerged as a frontrunner in the air taxi electrification race: Surf Air Mobility Inc. (NYSE:SRFM).

Surf Air Mobility is the largest commuter airline in the US based on scheduled departures, flying more than 450,000 passengers on ~75,000 flights to 48 destinations in the US in 2022. The company also generated over $100 million in revenue, and has plans to electrify regional air travel across the US and beyond.

Unlike its competitors, Surf Air Mobility is taking a different approach. Instead of building electric aircraft from scratch, the company is focused on upgrading existing aircraft with fully electric and hybrid-electric engines once its proprietary powertrain technology is certified. This strategic decision can not only accelerate the electrification process but also leverages the proven reliability and existing market adoption of the Cessna Grand Caravan aircraft, setting Surf Air Mobility apart in the rapidly evolving landscape of electric aviation.

Pioneering the Future of Air Travel

Surf Air Mobility's recent collaboration with Inc., a next-gen aerospace company, further solidifies its position as a leader in the electrification of air travel. The partnership will utilize Electra’s hybrid-electric short takeoff and landing (eSTOL) aircraft within Surf Air’s tech-based on-demand air mobility service and its Aircraft-as-a-Service (ACaaS) offering.

Surf Air Mobility is also expanding its electrification strategy globally through recent partnerships in Africa and South America. The company's collaboration with Z.Boskovic Air Charters, a prominent figure in Kenya's private charters, safari, freight, and corporate travel scene, marks a significant milestone in its electrification efforts. The agreement entails upgrading Z.Boskovic's existing and forthcoming fleet of Cessna Caravans with Surf Air's electrified powertrain technology once certified.

With Z.Boskovic's current fleet of 13 Cessna Caravans already operational, the company plans to bolster its fleet with two additional Caravan aircraft by the end of 2024, solidifying its status as Kenya's largest charter operator of Cessna Caravans.

Surf Air Mobility's partnership with Safarilink, an airline connecting domestic scheduled flights to destinations within Kenya and Tanzania, and Yellow Wings Air Services, a Kenyan air operator serving over 500 airfields throughout the East Africa region, further strengthens its position in the African market.

The agreement will see Surf Air Mobility upgrade existing Cessna Grand Caravan aircraft in Africa with its proprietary electrified powertrain technology once certified, marking a monumental milestone in its efforts to expand its global footprint and accelerate the adoption of electric aviation technology worldwide.

With a proven track record of success, a dynamic management team, and a clear vision for the future, Surf Air Mobility is poised to become a key player in the electric aviation sector.

As investors seek opportunities in the electric aviation sector, Surf Air Mobility offers an opportunity for those looking to invest in the future of sustainable transportation.

Click on this link or read their corporate presentation to learn more about Surf Air Mobility Inc. (NYSE:SRFM).







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2) The Article was issued on behalf of and sponsored by, Surf Air Mobility Inc. Market Jar Media Inc. was paid $1,500 for the production and publishing of this article by Surf Air Mobility Inc.’s Digital Marketing Agency of Record (Native Ads Inc.). Additional details relating to Market Jar Media Inc.’s engagement by Surf Air Mobility Inc.’s Digital Marketing Agency of Record (Native Ads Inc.) are set out in


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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management's expectations regarding Surf Air Mobility Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Surf Air Mobility Inc.’s industry; (b) market opportunity; (c) Surf Air Mobility Inc.’s business plans and strategies; (d) services that Surf Air Mobility Inc. intends to offer; (e) Surf Air Mobility Inc.’s milestone projections and targets; (f) Surf Air Mobility Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Surf Air Mobility Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Surf Air Mobility Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Surf Air Mobility Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Surf Air Mobility Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) the accuracy of budgeted costs and expenditures; (e) Surf Air Mobility Inc.’s ability to attract and retain skilled personnel; (f) political and regulatory stability; (g) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (h) changes in applicable legislation; (i) stability in financial and capital markets; and (j) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Surf Air Mobility Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Surf Air Mobility Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Surf Air Mobility Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Surf Air Mobility Inc.’s business operations (e) Surf Air Mobility Inc. may be unable to implement its growth strategy; and (f) increased competition.Except as required by law, Surf Air Mobility Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Surf Air Mobility Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Surf Air Mobility Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.


7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Surf Air Mobility Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Surf Air Mobility Inc. or such entities and are not necessarily indicative of future performance of Surf Air Mobility Inc. or such entities.


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