Yesterday we were thrilled to stand alongside Surf Air Mobility as they debuted on the NYSE as a publicly traded company. The story of PFG and Surf Air dates back over six years and we were incredibly proud to join them at Surf Air’s public listing.
When we met Co-founder & CEO Sudhin Shahani and his team in Los Angeles, we recognized a dynamic founder and visionary leader who had scaled the Surf Air business and had ambitions to advance the next generation of air travel. PFG was among the early institutional capital partners for the company when we closed our first financing in 2017. While Surf Air had demonstrated rapid growth and built a disruptive travel business of scale, the company wasn’t a natural match for commercial banks. Following PFG’s initial and subsequent financing, Surf Air was able to further invest in market development and product enhancements, instrumental building blocks for the growth of their network.
Yesterday’s listing marks an important step forward in the company’s journey. Surf Air completed their merger with Southern Airways and achieved a pivotal outcome to advance key business partnerships as they look to unlock the next stages of their growth. We are excited to continue to support Surf Air’s mission to bring green regional air mobility to market at scale with electrified aircraft to sustainably connect communities and lower the costs of regional air travel.
We were proud to stand beside Sudhin and Surf Air yesterday and are humbled by the invitation to join them on the platform. For a company to extend this invitation to their senior creditor shows that we’re more than a lender, we’re a partner for growth. We could not be more appreciative of that gesture, and we look forward to what is to come for Surf Air and its visionary leaders.