(Corrects paragraph 1 to say unit’s revenue rose nearly 72%, not company’s revenue rose nearly 40%; corrects paragraph 2 to say unit Surf Air generated $20.27 mln in revenue, not the company)
(Reuters) – Surf Air Mobility’s revenue for a unit jumped nearly 72% in 2022, the electric aviation and regional air travel company’s regulatory filing with the U.S. Securities and Exchange Commission to list its shares in New York showed on Monday.
The company said its unit Surf Air generated $20.27 million in revenue for the year ended Dec. 31, compared with $11.8 million, a year earlier.
It is choosing to go ahead with the listing at a challenging time for the U.S. public markets, where activity has been at a near standstill since last year as investors grapple with heightened volatility in a rising interest rate environment.
It had confidentially filed for a direct listing in the United States after terminating its $1.42 billion merger deal with a blank check firm.
The company intends to list its shares on the New York Stock Exchange under the ticker symbol ‘SRFM’.
(Reporting by Manya Saini in Bengaluru; Editing by Shailesh Kuber and Shinjini Ganguli)
