Surf Air Mobility Inc. (NYSE: SRFM) reported its first-quarter results with a revenue of $23.5 million, reaching the high end of its guidance range. Despite experiencing a brief unscheduled downtime and a dip in OnDemand services revenue, the company remained within its revenue and EBITDA guidance. The reported adjusted EBITDA was a loss of $14.4 million. The company is transitioning from its Transformation Phase to its Optimization Phase and anticipates improved profitability through strategic cost reductions and optimizations, particularly in the latter half of fiscal year 2025. A notable development includes an interline agreement with Japan Airlines, marking Surf Air Mobility's first international airline partnership. Additionally, the company has launched a new Jet Card, highlighting its focus on enhancing the end-user experience.
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