Company: SRFM
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0000950170-25-043326
Chunk: 129

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1B
Chunk 129
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.” The Company has engaged AeroTEC to develop fully-electric and hybrid-electric Supplemental Type Certificates (“STCs”) for the Cessna Grand Caravan in partnership with TAI. 

Commitments

The Company has entered into various contractual arrangements related to the build-out of the Company’s air service fleet, the development of its proprietary hybrid and electric aircraft technology, and the build out of its aircraft as a service platform. These arrangements include commitments for payments pursuant to licensing agreements, which routinely contain provisions for guarantees or minimum expenditures during the terms of the contracts. The Company also enters into long-term debt arrangements that include periodic interest and principal payments. Additionally, the Company routinely enters into noncancelable lease agreements for aircraft and operating locations, which contain minimum rental payments.

The following table summarizes the Company’s contractual commitments and obligations (in thousands) :

    Total

    2025

    2026

    2027

    2028

    2029

    Thereafter

    Long-term debt
     
    $
    64,593

    $
    2,543

    $
    2,676

    $
    12,032

    $
    45,669

    $
    421

    $
    1,252

    Operating leases

    20,690

    6,561

    4,603

    3,158

    2,219

    2,218

    1,931

    Finance leases

    1,537

    389

    372

    336

    264

    176

    —

    Repayment of related party term loans

    50,000

    —

    —

    —

    50,000

    —

    —

    Repayment of convertible notes

    8,034

    —

    —

    —

    8,034

    —

    —

    Minimum payments under aircraft supply agreements

    283,800

    3,000

    13,200

    13,200

    13,200

    62,700

    178,500

    Minimum payments under data license agreements

    9,500

    9,500

    —

    —

    —

    —

    —

    Minimum payments under sales and marketing agreements

    40,000

    15,000

    10,000