Company Announcements

The Company is investing in its Mokulele Airlines and Hawaii infrastructure in 2026, including upgrades and improvements to aircraft, airports, lounges, loyalty program, network capacity, and leadership.

Short interisland routes, unique operational footprint, and existing air travel demand position Mokulele Airlines as an ideal launch partner to showcase Advanced Air Mobility aircraft.

LOS ANGELES--(BUSINESS WIRE)--Jan. 22, 2026-- Surf Air Mobility Inc. (NYSE: SRFM) (the “Company”, “Surf Air Mobility”) today provided an operational update on its Mokulele Airlines (“Mokulele”) scheduled airline business, highlighting its Hawaii network as a core strategic asset and reaffirming the Company’s commitment to continued investment across the network.

Mokulele operates the largest airline network in Hawaii by airports served and has the most scheduled departures among commuter airlines in Hawaii, operating essential interisland routes that support residents, businesses, and visitors. The Company is making broad investments totaling approximately $22.4 million by the end of 2026 in its Mokulele operations to maintain its excellent scheduled service reliability, elevate the customer experience, and optimize the network for the deployment of Advanced Air Mobility (“AAM”) aircraft.

Deanna White, CEO of Surf Air Mobility, said: “Our investments in Hawaii strengthen our airline service today while laying the operational and infrastructure foundation for new electrified aircraft to enter the market. We believe our Hawaii network will be an ideal showcase to demonstrate how Advanced Air Mobility aircraft will improve flight-level unit economics, reduce maintenance costs, and enhance airline profitability.”

Hawaii Network Highlights

• 2025 operational performance:
  • Departures: 36K
  • Passengers: 224K
  • Controllable completion factor: 96%¹
• Current network scale:
  • 10 routes serving 9 airports across the Hawaiian Islands
  • Average stage length of 51 miles, making Hawaii one of the most operationally relevant markets for next-generation Advanced Air Mobility aircraft with over 14.1K flights flown across routes 50 miles and under in 2025
  • Interline partnerships with larger air carriers, including: Hawaiian, Alaska, United, American, and Japan Airlines, extending the reach of the interisland network through mainland and international connectivity
• Network capacity growth:
  • Starting in Q1 2026, Mokulele will add seven new daily roundtrips to its high-demand Molokai schedule, including five new roundtrips to Honolulu (HNL) and two new roundtrips to Kahului (OGG)
  • Mokulele schedules a total of 26 peak-day roundtrips from Molokai to Honolulu and 13 daily roundtrips from Molokai to Kahului
  • With the expanded flight schedule between Honolulu and Molokai, Mokulele will operate the most frequently flown route of any airline in the U.S.

Fleet and Infrastructure Investments

• Upgraded fleet:
  • Added 2 new Cessna Caravan aircraft delivered from Textron Aviation, with 2 additional new aircraft planned to enter service in 2026
  • New Cessna Caravan aircraft have improved operating costs, reliability, and passenger comfort
• Customer experience:
  • Investments in refreshed lounges and ground facilities

New Loyalty Program

• Launched “Elevate,” a new passenger loyalty program for Mokulele Airlines and Southern Airways, allowing members to earn points on paid flights and redeem rewards
• Introduced tiered benefits for frequent flyers, including free checked bags, priority service, and bonus points

Strengthened Local Leadership

• Surf Air Mobility has added experienced aviation leaders with deep Hawaii expertise, including Louis Saint-Cyr, COO of Airline Operations, and Gary McKoy, Vice President of Airports and Stations. Both executives previously held senior leadership roles at Hawaiian Airlines and bring decades of experience operating in Hawaii's unique aviation environment.

Launch Market for Advanced Air Mobility

With short routes, existing demand for interisland air travel, and deep community integration, Mokulele’s network is uniquely positioned as a launch environment for Advanced Air Mobility aircraft. Mokulele’s average stage length of 51 miles is well suited for the range and mission profiles of first-generation electrified aircraft, and the state’s strong local demand and established aviation infrastructure makes Hawaii an ideal operating environment to leverage the substantial operating cost improvements of electrified aircraft in high-frequency scheduled commercial airline service.

About Surf Air Mobility

Surf Air Mobility is a Los Angeles-based air mobility platform. With its AI-enabled SurfOS software and electrification programs, Surf Air Mobility provides technology designed to support the modernization of air operations and the adoption of next-generation aircraft. The Company currently operates one of the largest commuter airlines in the United States by scheduled departures, which provides operational scale and real-world operating data to validate and deploy its software. Together, these capabilities position Surf Air Mobility as a leader shaping a more efficient, connected, and accessible future for aviation.

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 Mobility’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 Mobility’s ability to anticipate the future needs of the air mobility market; Surf Air Mobility’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 Mobility’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 Mobility’s growth; the inability of Surf Air Mobility’s customers to pay for Surf Air Mobility’s services; the inability of Surf Air Mobility 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 Mobility, the risks associated with Surf Air Mobility’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 www.sec.gov, before making an investment decision. The Company assumes no obligation to update its forward-looking statements except as required by law.

¹Operational data from February 1, 2025 to January 2026 MTD

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Surf Air Mobility Media Contacts
Press: press@surfair.com
Investors: investors@surfair.com

Source: Surf Air Mobility Inc.