Wednesday, May 15, 2024

Surf Air Mobility Swaps CEOs, Seeks To Cut Costs

Los Angeles-based regional air company Surf Air Mobility said it has swapped its CEO, saying that current CEO Stan Little will become a "Special Advisor" and "Founder" to the company. Deanna White, the company's CFO, will become Chief Operating Officer and interim CEO of the company. It's unclear what drove the company's CEO switchup. White was previously CEO of Bombadier Flexjet, and also served as COO of Kitty Hawk (sold to Boeing, now known as Wisk Aero). In addition to the CEO swap, Surf Air Mobility said that it is "undertaking a strategic review" which it says will "ultimately result in cost reduction and other expense control measures aimed at returning airline operations to profitability." The company also said it is "actively pursuing other strategic initiatives" and has "retained a leading investment bank" in its efforts.