All right, everybody. We've got a lot of people here in New York, which is great. We've got a fair number on the Zoom as well, I think about 200. My name is Mark Roberts. I'm super excited to kick off today, Surf Air Mobility's investor day for their direct listing. As most of you are aware, Surf Air is currently in the process of executing a direct listing, that will result in them being a publicly traded company on the NYSE after the SEC declares their S-1 that's been publicly filed and available to all of you, effective. Surf Air Mobility expects to have publicly traded stock sometime in the beginning of July. At the end of today's session, we'll take some time to walk you through next steps, because direct listings, I think this is the 14th tech one. We'll walk you through how everything unfurls after this event. Now, before I cover today's logistics, I'd like to sort of direct you to the safe harbor that's on the screen behind me. Encourage you to take a look at it, to read it. There's a lot of important information there, and it will cover everything that we discuss in terms of the presentation and the Q&A. Now, before I hand it over to Sudhin and the team, I'd like to preview the day's logistics. As I said, we've got a large group here in person, and we've got 200 people on the Zoom. In order to make this as efficient as possible, we've budgeted roughly 2 hours. It'll be in 2 segments. After the first segment, we will stop and take about a 10-minute break for Q&A. We're going to try and stay on time, so don't be disappointed if your questions are not answered in the first round. There will be a second round. If you're here in person, just raise your hand. We've got someone who'll bring you a microphone. If you're online, you can use the chat feature, which will come directly to me and the company, or you can send an email to my colleague, Jessie Barker, who's at jbarker@blueshirtgroup.com. We'll get to as many of these as we can, obviously. Again, we're gonna be mindful of time, so we can get you in and out of here with a lot of content. After the first Q&A, we'll move through the rest of the agenda that you can see on the slide, and we'll finish with about 20-30 minutes of Q&A at the end. Finally, for those of you in the audience, thank you for coming in person. We're gonna have a cocktail event afterwards. If you can stay, we'd love to chat with you after the event. I think that is probably all the logistics. You'll see me during Q&A, but other than that, it's all the good stuff from the company. Let's take it away. Thank you. Hi, I'm Sudhin, co-founder of Surf Air Mobility. A whole new wave of electric aircraft are coming to market over the next decade, all designed with a couple of common themes. They are smaller format aircraft, largely sub 10 seats, and are being designed for short regional trips for a mass audience. The reason for this is that electrification in the air doesn't just reduce emissions, it also significantly reduces cost. Surf Air and Southern Airways today are the largest commuter airline in the country. This puts us in a really unique position to bring green regional air mobility to market at scale. We're excited to usher in the next wave of green regional mobility. Hi, I'm Liam. Over the last 10 years, we've built a brand and product that our flyers love. They can show up just 15 minutes before their flight to a small airport close to their home or office, to a lounge just like this. They walk to a plane that's just feet away, that'll take them to their end destination efficiently and keep them out of a crowded and congested airport. We give them back what's most important to them, their time. We're looking forward to bringing this experience to an airport near you. Here's how we're doing it. Hi, we're Surf Air Mobility. We've been flying business and leisure travelers in and out of small regional airports in the U.S. for 10 years, and we saw a bigger opportunity. What if we introduced electric planes that could sustainably connect communities and lower the cost of flying for everyone? We're currently the largest commuter airline in the U.S., with the largest fleet of passenger Cessna Caravan aircraft today. We're also working with the top airline manufacturer in this space. Together, we're electrifying one of the world's most prolific turboprop aircraft. We're developing this technology with world-leading aerospace and electrification companies, who together have already flown the world's largest all-electric plane. We're using big data and AI to reimagine where people want to go, how much they're willing to spend, and where the nearest plane is to take them there. Currently, there are thousands of underutilized public airports across the country, the kind you drive past every day. We currently fly between 48 of these airports. What if thousands more were connected? With easy air service in communities across the country, it'd have the potential to change how you live, work, and explore, making it possible for short flights to replace long drives. This air service turns the entire region around you into your neighborhood. You could escape for a weekend away or replace your daily commute and traffic with a quick flight, so you're back home in time for dinner. There's a shift in regional travel happening now. We've seen this shift before, where technology and electrification change an industry and reimagines consumer behavior by bringing costs down and making it accessible. We founded Surf Air Mobility to make air travel more accessible and less harmful to the planet. In the U.S. alone, there are 2.5 billion trips every year between 50 and 500 miles. Most of these trips are happening on the ground today, but we think they can be better served in the air. We've assembled a world-class team of industry experts making this happen. Our executives have decades of experience operating major airlines and introducing new ways of flying to the market. Now that we've shared our vision, we'd like to walk you through our plan and introduce you to some of the rest of our team. Hi, I'm Sudhin. We want to start by thanking everyone in the room and on the webcast for spending time with us today to learn about our company. Hi, I'm Liam. We're excited to share Surf Air Mobility with all of you and how we plan to advance the future of flight. Over the next few hours, we want to share our vision for how we plan to bring electrified flight to people throughout the United States. Cars have made tremendous progress towards this goal over the last decade, to the point where it isn't difficult to see their fully electric future. Planes, however, will work differently. This is due both to the physics of flight and the necessity to use smaller, lighter aircraft that the commercial airline industry has largely moved away from over the years. There's significant investment and innovation happening in electric flight, much of which focuses on new aircraft types and new ways of flying. We love that, and we can't wait to try to integrate those products onto our platform. The problem is that many of these approaches will take a long time and expend huge amounts of capital before they can actually fly passengers. We believe the approach we've designed helps solve both of these problems. We're taking a proven aircraft, the Cessna Caravan, and are modifying it into electric and hybrid formats. This will cut down on R&D, marketing, and distribution, and most importantly, the time it takes to get passengers flying on a hybrid or fully electrified aircraft. We currently enjoy a leading position within the regional air travel market. Across Southern and Surf Air, once combined, Surf Air Mobility will be the largest commuter airline in the United States by scheduled departures. Surf Air and Southern have leveraged this position to enter into a series of unique strategic relationships that will enable us to grow faster and deploy electrification in a capital-efficient manner. We're going to talk more about these relationships later in the presentation. We believe we are building the platform to enable other commuter airlines to also flourish in this space. Building out this ecosystem is gonna need industry-leading technology, it's gonna need a trusted brand for flyers and operators, and it's gonna require getting regional flight operators the right commercial tools and financing solutions. I just described an incredibly ambitious plan. Let me pass you over to my co-founder, Liam, to talk about the people we're proud to have assembled to help us make this all happen. Thanks, Sudhin. We've built an incredible team with deep industry experience. As we merge Surf Air and Southern, we'll bring together nearly 750 employees from across the country to have created a dynamic team with aviation, consumer, technology, and flight operations. You'll hear from a few of our executives today. I'll briefly introduce each of them here first. We're excited for Stan Little, who founded Southern Airways and grew it to be the largest commuter airline in the United States by scheduled departures, to join us here as our incoming CEO of Surf Air Mobility. Deanna White is our CFO. Deanna has an incredibly diverse background in both traditional aircraft, public finance, and new aviation technologies with her time as CEO and CFO at Flexjet. Fred Reid is our Global Head of Business Development. Fred has spent his career with some of the world's most iconic airlines as president of both Delta and Lufthansa, and CEO of Virgin America, to name just a few. More recently, he spent his time as Global Head of Transportation at Airbnb. He'd love to be here with us today, but he's representing us at the Paris Air Show. David Anderman has recently joined us as our Chief Legal Officer, formerly General Counsel of SpaceX and GC and COO of Lucasfilm, where he helped lead the sale of Lucasfilm to Disney. Most excitingly, he's been a long-time Surf Air customer flying around California with us. Ido Haber is our Chief Strategy Officer, formerly with BCG, and a representative aviator on our team as the former officer with the Israeli Air Force. Ken Bieler is our VP of Technical Operations, helping commercialize our electrification. He spent time with clean sheet eVTOL company, Wisk, and spent time with traditional airlines at Virgin America and United. Finally, we're proud to have an incredible board of directors made up of seasoned executives and entrepreneurs with broad experience across diverse industries. Now that we've introduced to the people that are supporting our mission, I'd love to hand it back to Sudhin to walk you through the overview of our business and our plan. Thank you, Liam. At a high level, you should think about our business as a combination of our travel brands today and the partnerships we've entered into to drive significant growth and to deploy electrification. Unlike other companies pursuing electric flight, we have an established operating business today. We generated over $100 million in revenue last year, pro forma with the Southern acquisition, with profitable unit economics across our network, and flew on a combined basis, nearly 500,000 passengers last year alone. Throughout the presentation, you'll hear us talk about two types of customers: our passengers and our flight operators. Our passengers are the people that fly our service every day. Our operators will be our customers through our Aircraft as a Service product we're developing. We will strive to provide operators with attractive leasing, software tools, and eventually, electrification upgrades. As I mentioned earlier, converting existing aircraft types into hybrid and electrified aircraft, rather than designing a new aircraft from scratch, is beneficial for a number of reasons. The first hybrid and electric aircraft we will bring to market are hybrid and fully electric variants of one of the most prolific existing turboprop aircraft, the Cessna Caravan. We believe this approach creates a faster path to market through the supplemental type certification process. We believe the hybrid variant can have up to 25% cost reduction and up to 50% emissions reduction, while the fully electric variant can have up to 50% cost reduction and up to 100% emissions reduction. In the long run, we intend to continue to develop powertrain technology for additional existing aircraft types, as well as work with clean sheet design electric aircraft manufacturers to commercialize them through our network and through our Aircraft as a Service product. When you consider our addressable market, our playing field is a 100-500 mile regional travel space. There's approximately a $75 billion-$115 billion global opportunity for regional air travel by 2035, with most of these trips being served on the ground today. We have a data-driven growth plan with a goal to efficiently move these trips to the air. Stan, our incoming CEO, will speak more about this plan later today. In addition to reducing cost and emissions through electrification, we are focused on our plan to improve access to regional communities and to create jobs at underutilized local airports. We believe we've established the building blocks for a platform that can enable the growth of green regional flying. To summarize, there are three key components of our business that I just described. I'd like to emphasize how these components come together, and when overlaid with our partnerships, we believe creates a long-term flywheel of growth. First, we plan to expand the network. Our three consumer-facing brands, Surf Air, Southern Airways, and Mokulele, are core to that mission. They're brands that consumers love to fly and operators love to fly for. Network expansion is not just about growing the airlines, it is critically about growing the operator base as well. Over 200 operators flew for Surf Air over the last year. We expect our operator base to expand significantly as we roll out our Aircraft as a Service product. Our plan is to enter into long-term recurring revenue contracts with these operators, helping them finance their aircraft and providing them with software tools to run their businesses. Our relationship with Jetstream is structured to provide us with the off-balance sheet capital to seed the Aircraft as a Service business. Our Aircraft as a Service operators will be contractually committed to upgrade their aircraft with electric powertrains once certified, reducing their cost by up to 50%. We believe our relationships with Textron Aviation and AeroTEC will allow us to bring our electrified powertrains to market in a capital-efficient manner. We also intend, in the future, to work with other clean sheet design manufacturers to bring their products into our network and further reduce costs for our operators. To summarize, we believe the three components of our business must live together and are imperative to each other's growth. Network expansion is about getting more passengers flying. Aircraft as a Service is about getting operators the planes they need to fly, and electrification is about reducing costs and expanding margins to further drive network expansion. Speaking of electrification, we'd like to introduce you to our first electrified aircraft, the EP1. I cannot impress upon you enough how important we feel it is that we've chosen to modify an existing aircraft rather than develop a clean sheet design. By upgrading the Cessna Grand Caravan EX, one of the most prolific family of aircraft in the single-engine turboprop category, we believe we will be able to significantly reduce the amount of time we spend in the certification process. Ido and Ken will dive into this in more detail later in the presentation. We plan to deploy our electrified powertrains across our network in the airplanes we already use most to fly our passengers today. Through our relationship with Textron Aviation, we aim to deliver electrification across the approximately 3,000 Caravans in the market, flying cargo, military, and other missions around the world. We will have two variants of the EP1, a hybrid and a fully electric variant. It's important to note that our hybrid electric variant is being designed to operate without charging stations on the ground and will target delivering similar performance and range as combustion variants do today. This will make the hybrid EP1 able to fly almost every use case in the market today and be addressable to almost every existing operator. We're designing the first generation of our electric variant to have a target range of up to 100 miles. You may think that sounds short, but you should know that around 30% of the global Caravan fleet are flying sub 100-mile routes today, including all the flights in our Hawaii network, which we expect to be an incredible showcase for the first fully electric commercial flights. You've heard me speak at a high level about how important our partnerships are. Let me get a bit more specific about why we believe we can own the Caravan ecosystem at scale and create a competitive moat. Let me start with Textron Aviation. They're the aircraft manufacturer. We have an exclusive relationship with them to electrify, market, and distribute aircraft with our powertrains. We're also working with AeroTEC, who is a leading technology innovator in the space and has already flown an electric aircraft. Jetstream is the largest global lessor, focused exclusively on commercially operated turboprop regional aircraft and engines. Not only will they provide us off-balance sheet financing for our own fleet, but also the capital to seed our Aircraft as a Service product with leasing. Given their broader position in the turboprop market, our relationship will also allow them to market our planned electric powertrains across their customer base. Most importantly, Surf Air and Southern Airways combined into Surf Air Mobility, will be the largest passenger operator of the Cessna Caravan in the U.S. and have a unique understanding of how to deploy this aircraft. With these unique building blocks in place, we believe we have the best strategy to commercialize and scale the first electrified aircraft in the commuter airline space. Now that I've explained a little bit about our business model, I just want to briefly touch upon how we make money. Deanna, our CFO, will discuss this in more detail later in the presentation. We did $100 million in revenue in 2022, pro forma for the Southern Airways acquisition, including from scheduled service, government-contracted Essential Air Service, and on-demand platform revenue. In the long term, electrified air mobility will benefit our business. We believe Surf Air Mobility will benefit from a number of different electrification and software revenue streams, including a pure B2B electrification revenue stream from electrified aircraft flown outside of our network. An example of how this could take place in the future is Textron Aviation selling an aircraft with our powertrain to a large cargo operator, for example. Critically, we believe our business over time will benefit from several recurring revenue lines. To talk about how we're going to operationalize all of this, I'm delighted to introduce you to Stan Little, incoming CEO of Surf Air Mobility. Are we rolling? Hi, I'm Stan Little, CEO of Surf Air Mobility. Over the last 10 years, we've built the largest commuter airline in the U.S. Last year, we flew 75,000 scheduled flights to our 48 destinations, and we believe this barely touches the ultimate market potential. The size of this opportunity can be summed up in two key points. First, there are 5,000 public airports in the U.S., but only 30 of them account for the vast majority of the nation's air traffic. Second, approximately 90% of Americans, that's around 300 million people, live near one or more underused regional airports. In short, this is a huge untapped national resource, sitting nearly empty in communities all across the country. As our platform scales, we plan to make flying between these airports more cost-effective and aim to unlock new economically viable routes that never existed before. I think our growth plan is pretty simple. To sum it up, we've analyzed billions of data points to create a network that we believe people want to fly. As we launch in new cities, we'll seed the market with our own fleet first to get it off the ground. We'll bring third-party operators onto our platform to drive market maturity. We'll upgrade the aircraft already flying these routes with proprietary electrified powertrains once they're certified, further stimulating both supply and demand. We believe this blueprint takes a rapidly expanding business today and supercharges it with growth for many years to come. We presently fly more scheduled short-haul flights than anyone else in the country. We've flown millions of passengers over millions of miles. We've done this by bringing together three incredible air travel brands. Surf Air flies frequent scheduled service within California, in addition to regional charter operations around the world. It also runs a digital marketplace that connects operators directly with flyers. Southern Airways has scheduled flights in regions across the entire U.S., from New England, the Gulf South, the Central Heartland, the Rocky Mountains, and the West Coast. Much of Southern's revenue is generated from long-term, recurring, and profitable government contracts through the Essential Air Service program. This long-standing government initiative ensures that communities across the U.S. have access to air travel that connects them to major airports. Mokulele Airlines is the largest inter-island commuter airline in Hawaii, connecting the islands with reliable air travel that visitors and locals use every day. These short hops between islands will be a perfect use case for the first generation of fully electric planes. Our established interline agreements with four major commercial airline partners, United, American, Alaska, and Hawaiian, allow us to sell our tickets on their websites, giving our flights massive distribution potential. We expect the revenue from our core businesses today to continue to grow even before electrification accelerates the business further and faster. Good afternoon, everybody. It's great being live and in person with you today. I'm going to have the opportunity to give you a greater detail on what you've just seen in the video. Let's jump in. You're going to hear us talk a lot today about two types of customers. The first is obvious. It's everybody in this room, passengers. The second type is a little less obvious. It's our operator customers, the companies that fly the planes that get passengers around. The problems passengers face are obvious: traffic on the highway, large congested airports, or lack of flight options from the nearest airport. These are all limitations to how people travel regionally today. Surf Air Mobility solves all this. The problems faced by small operators are sometimes less obvious outside of our industry, but it's lack of distribution, lack of financing to acquire planes, and lack of the tools needed to run a successful airline. These are the problems not being comprehensively addressed right now. We can help solve these problems for operators today and build a pipeline of operators ready to benefit from the next revolution in flight, electrification. To dive more deeply into our passenger customers, I'm going to hand it back to Liam for a moment. Thanks, Stan. The heartbeat of our business has always been our passengers. The people we fly today know how point-to-point travel from their local airport can change how they live and work. The core of our experience has always been to ensure that each passenger enjoys their journey start to finish. Surf Air removes the hassles and chaos of traveling through a large airport, and we want our flyers to leave their homes knowing that they'll save time by getting them closer to where they're going. We think we've created something pretty special here compared to your average travel day. Let's take a moment to show you our flying experience. We've eliminated the wasted time and bad experience of flying through large commercial airports. Every time someone flies with us, they get back as much as 2 hours on every trip, and they spend an average of 75% less time in an airport, allowing them to arrive refreshed and ready for whatever comes next. With 4.8 out of 5 star flight rating, we can see we've created something truly special. You can replace the 3-hour drive with a quick half-hour flight. You won't waste hours getting stuck in a large commercial airport. A weekend away doesn't need to be spent trapped in bumper-to-bumper traffic when you can fly right over it. We want these sorts of travel experiences to be available to everyone all over the world.... I've had a flyer tell me once before that it was love at first flight, and having flown with traditional carriers for so long, that's always stuck with me as the perfect summary of exactly what we're trying to do and achieve here every day on every flight. We believe that delivering a seamless and differentiated experience requires us to be disciplined in two important ways: investing in the right people and developing our direct-to-consumer software platform. When we layer in our consumer tech, the experience becomes all the more powerful. An app that makes it easy to book is one thing, we've already got that. We've invested in technology aimed in delivering personalization at scale. With every flight, we're able to build upon a robust customer profile and personalize travel at every step of the journey. The commuter airline market in which we operate lacks the technology used by traditional commercial airlines. We plan to fill this void by bringing together regional air operators, which Stan will tell you more about in a moment. I'm sure everyone in this room has a local airport not too far from their home or office. What if that small airport had a quick, direct flight to destinations all around you? We've set out to connect as many of these dots on the map as possible, and we're aiming for our network to look something like this one day. Maybe you want to connect Los Angeles to Mammoth for a ski season, or you want to get back and forth between New York City and Upstate every other weekend, or you live outside Miami, and you'd rather not make the drive to Miami International if you just want to get to Tampa. These are the sorts of route opportunities we aim to make available for more people. As I've hopefully expressed here today, we take extreme pride in trying to make the travel experience the best part of our passengers' days, and we'll bring the same spirit to our operator customers. I'll let Stan speak more about our operators and serving our operators. Thanks, Liam. You know, over the last 10 years, I've had the great privilege and challenge, really, of building a commuter airline from the ground up. That experience has given me a unique point of view into the many issues that operators face on a daily basis. While Southern developed many good tools to solve problems in real time, we believe one of the biggest benefits to Southern's merger with Surf Air is the renewed focus and commitment to technology. I know from experience that commuter operators need a better set of tools to face their biggest challenges, and with Aircraft as a Service, we plan to give them exactly that. There are presently about 1,800 FAA certificated small aircraft operators in the U.S., flying nearly 12,000 planes, but only about 50 of these companies are flying scheduled commuter operations. Among other reasons, we believe that more of these operators aren't becoming commuter certificated because they lack the ability to find passengers, the capital to scale their company, and the software to run complex operations with nationwide scope. Let's touch on these problems more specifically. Lack of flight distribution limits reach and suppresses sales. Operators just can't get to the passengers they need to fill their planes. People would never know to google for flights from their neighborhood airport. We believe our direct-to-consumer technology platform changes that. On top of that, lack of aircraft financing and leasing programs makes it difficult to run smooth operations, especially at scale. We believe our master agreement with Jetstream and our planned Aircraft as a Service product directly addresses these needs. Finally, we believe we're building a suite of software tools that will sit on a technology platform operators can use to run their businesses. Aircraft as a Service or AaaS, this is where it all comes together. We aim to follow the example set by enterprise software companies to purpose-fit a software platform unique to our operator customers. The planned software suite will link into the leasing and distribution capabilities I just described to create what we believe will be a one-stop shop for operators. As our electrification technology completes certification and rolls out across the platform, we expect AaaS customers to form the foundation of the install base for the upgraded electrified Cessna Caravan. As I mentioned at the outset, this is the U.S. operator landscape as it exists today. We already work with hundreds of these operators through our on-demand platform, and we believe many of them are good candidates to fly in our scheduled service network as well when that network expands. Our goal is to have the majority of the operators in the left column flying on our platform, and to move more of these operators from the left column to the right column, where they can then operate scheduled flights through AaaS. We believe Aircraft as a Service will give them the opportunity to do exactly that by giving them a reliable and efficient way to grow their businesses and improve their margins over time. Now that you understand our customers, let me give you a bit more detail about the addressable market and our growth plan to build market share. An obsession with our customers is where we start every day. The question becomes: How big is the opportunity? We believe the regional air mobility market will grow significantly over the next decade. I'd like to go into more detail about this addressable market. We worked with a top-tier consulting firm to build an in-depth view to better understand exactly where and how often people are traveling regionally. Perhaps not surprisingly, people are traveling a lot between 100 and 500 miles. We believe the combination of a few important factors will contribute to the growth in regional air mobility over the next decade. That's electric flight, abundant underutilized airports, and congested highways. We believe these things will create a long-term shift from roads to air. McKinsey & Company recently published a report that estimates the regional air mobility market to be between $75 billion-$115 billion globally by 2035. We believe that by 2035, the U.S. regional air mobility market will be between $15 billion-$22 billion. As you heard me mention earlier, we think the airport infrastructure around the U.S. is a massive, untapped national resource. We believe we can better connect many of these 5,000 dots that are underutilized local public airports and the communities they serve to the broader transportation infrastructure, and we believe this will create a larger set of economic opportunities for the people living in those communities, and over time, an even bigger addressable market for regional air travel. To place this in the context of the general mobility market, we operate in a unique space, focused on short-haul flights, serving the regional travel section of the market. More specifically, we're focused on unlocking better travel between 100 and 500 miles. We pick up where eVTOL leaves off, and the commercial airlines pick up where we leave off. We believe this market is both underserved and underoptimized, as neither cars nor commercial airlines can effectively deliver the combination of time savings and flexibility that passengers demand in this regional mobility segment. Put another way, we don't see ourselves competing directly with large airlines for revenue, but rather we believe we're simply giving people a better alternative to sitting in traffic, either on their way to a commercial air hub or on their way home or to their final destination. We've designed our platform with all this in mind. In understanding what passengers need and what it takes for operators to deliver the right service, we believe our platform will allow us to form a dominant position in the regional air mobility market. We believe our addressable market will continue to evolve and expand significantly, given the innovation we see across our industry, which we plan to be a big part of. To that end, I'd now like to turn to our growth plan in a little more detail. Our growth plans are already in progress. On a combined basis, we added 10 new cities just in the last year, and our network growth plan will focus on scaling even more high-priority city pairs near major metropolitan areas. Surf Air Mobility has entered into agreements with Textron Aviation for, among other things, the purchase of 100 new Cessna Grand Caravan EXs and an option for 50 more after that, as well as the provision of certain services in anticipation of the development of hybrid electric and fully electric powertrains. The deployment of AaaS comes right after that, followed by the conversion of our own fleet to hybrid electric powertrains, and then our customers' fleets to electric powertrains. Lastly, our plan will deploy other clean-sheet aircraft down the road. We're already in active discussions with a number of exciting new electric aircraft developers about projects we intend to launch across our network. Surf Air Mobility has selected approximately 200 of the most commercially attractive routes spread across 30 regional networks in the United States. We call these our Tier one routes. Let's talk a little bit about how we selected them. First, we measured annual trips taken between any two metros in the United States. Second, we then optimized at the zip code level using demographic data such as household income, number of STEM employees, and housing prices. Third, we considered whether the route presently has commercial air service. Fourth, we targeted the demographic regions which we believe will support target fares of $250-$300. We believe these Tier One routes represent less than 10% of the projected addressable market by 2035, the remarkable thing is that 95% of these routes currently lack nonstop air service altogether. As you can see, when we're choosing our routes, we aren't just throwing everything against the wall to see what sticks. The key is following the data. We worked with that top-tier consulting firm to look at billions of cell phone pings to determine where are people traveling, not where they're flying, but where they're actually traveling. If they're making a 4-hour car ride when they could potentially be flying, but there's currently no available flight, we now know that. Americans in 2019 took 2.4 billion trips between 100 and 500 miles. The vast majority of those were in a car because that's often the only option. Within those 2.4 billion trips, we identified 2,500 routes focused around the top metro areas. We narrowed those 2,500 down to the approximately 200 Tier one routes. Think Burbank to San Diego, or Atlanta Peachtree to Charlotte, or White Plains to Boston Norwood. If we place a few hundred planes on a few hundred of the right routes, the passenger count reaches the millions quite quickly. Today, we're carrying almost a half a million passengers a year on about 50 airplanes. The key is picking the right routes and then flying them with frequency. Let's look at some examples. Take right here in New York. Last month, I was over in Newport, and I needed to get to New Jersey same day. It was literally a 7-hour and 15-minute rental car trip. I had no reasonable flight option. It was that or a $400 train ticket that didn't really save much time. If you've driven I-95 anywhere between Boston and DC, you know how convenient it would be to catch an easy flight at New Haven or White Plains or Morristown and avoid city traffic and the major airports altogether. A similar situation exists in Los Angeles on the West Coast. As you can see, there are literally 12 underutilized airports in the Los Angeles MSA. That's why we believe our daily flights from Hawthorne to San Carlos, outside of San Francisco, are successful. Imagine the ease of Hawthorne to San Diego or to Palm Springs, or the demographics of Monterey to Lake Tahoe. Some of our most exciting routes are in the Sun Belt and the Heartland. Look at Atlanta. Hartsfield-Jackson International is the busiest airport in the world. 10 miles north of that, where much of Atlanta's wealth is concentrated, is Peachtree-DeKalb Airport. From there are 33 lucrative routes, 9 of which are among our Tier ones. Most of the cities in these planned routes are more than a 4-hour drive from Atlanta. Hartsfield adds at least 90 minutes to every trip, and the walk-up fares to many of these cities out of Atlanta on commercial service today is nearly $400. We've talked a lot about how we see the demand for our product. Let's talk about how we're implementing our growth. We don't intend to fly every one of these routes ourselves. With our expected fleet order from Textron Aviation and planned financing from Jetstream, our plan is to engage a number of third-party operators to fly the Tier one routes in our network. We've shown empirically that this demand already exists and is merely waiting on supply, we believe things will move very quickly. Aircraft as a Service is so important. We believe it will allow us to timely meet demand and provide that critical second revenue stream. Best of all, it gives us a ready-and-waiting, contractually guaranteed set of customers for our electric platform conversion as soon as it's ready. We believe that Surf Air Mobility is really just going back to the experience that existed for half a century before TSA changed the nature of large airports. We'll do it at a fraction of the historical cost and with the advantage of that small airport experience. That's our scheduled business. Now, I want to spend a few minutes talking about some of the other segments of our company as well. We also have a robust on-demand platform, and our on-demand product that we believe will continue to be an important tactical piece of our growth plan because our passengers sometimes want to go places we don't fly. As I alluded to earlier in the presentation, Southern is one of the largest participating airlines in the Essential Air Service program, administered by the Department of Transportation. The EAS program was enacted to guarantee that small communities in the U.S. have the ability to maintain a minimum level of scheduled air service, and the program has been around for 45 years. Connecting communities is a top priority of Surf Air Mobility in more ways than one. It's great when you can make a huge impact on communities while also making a huge positive impact on the environment. Because we don't use the traditional hub-and-spoke system, our pilots are based at small airports in neighborhoods, suburbs, and small towns. Our call center agents live in West Virginia, rural Alabama, and half of them on the tiny island of Molokai. Our newest training academy is in DuBois, Pennsylvania, and we're targeting Compton, California, for our next flight school. Moreover, with our partner, SkyWest, we currently have a pilot development pipeline that helps to manage the national pilot shortage issues. As I often tell new recruits, captains at the large carriers can be making $300,000-$400,000 a year, which we believe can be transformative for families and for entire communities. The good news is, we believe customers will no longer have to make a choice between what's best for them and what's good for the planet. Did you know that the aviation industry produced over 1.2 billion metric tons of CO2 in 2019? If global commercial aviation were a country, it would be among the top 10 largest greenhouse gas emitters on the planet. Suffice it to say, we're hoping to make an impact on this traditionally difficult industry to decarbonize. Making a difference for our colleagues, our customers, our communities, and our planet is what drives goals at Surf Air every day. Hi, my name is Fred Reid. I serve as the Global Head of Business Development for Surf Air Mobility. I have spent much of my career helping to build major airlines around the world. I am privileged to have served as President of both Delta Air Lines and Lufthansa. I've also had the pleasure in recent years of working with highly innovative brands like Airbnb and Wisk. I'm very excited about our current engagement at Surf Air Mobility because it's pragmatic and it's achievable, and it will bring real change to the industry. Hi, I'm Ido, Chief Strategy Officer. We're taking a pragmatic approach to electrifying aircraft. Our approach doesn't rely on technology breakthroughs, sweeping regulatory changes, or the need to build out costly infrastructure. We believe we can be first to market because we've put in place a set of strategic relationships with the goal of electrifying the Cessna Grand Caravan, like this one behind me... There's a reason we're starting with this airframe. The Caravan family is one of the most prolific single-engine turboprop aircraft in the world. It's widely considered the workhorse of regional flying, with over 20 million flight hours across multiple mission types and environments. It is, in our view, the perfect first-generation aircraft to electrify, which we intend to do through a supplemental type certificate process, or STC. We're pursuing 2 types of STCs: a fully electric and a hybrid electric powertrain to replace the combustion engines in the Caravan. By only replacing the engine and not modifying this proven airframe, we believe we are de-risking the path to certification. With our powertrain, Caravan operators won't have to sacrifice on performance. They'll be able to fly the same types of missions as they do now on their combustion Caravans with our hybrid and fully electric powertrains. Our hybrid-powered Caravan is being designed to address about 90% of global Caravan flights today. We will provide our powertrains as upgrades to current Caravan operators and to new buyers. Our goal is to make upgrading to our powertrains cost-competitive with a periodic engine overhaul, which happens every 3,000-4,000 hours in a combustion engine. This will make the operator's decision to upgrade and gain the efficiencies of electrified flight even easier. As battery technology improves, we plan to go beyond the Caravan to develop and certify technology that supports larger aircraft with increasingly longer ranges. Hi, I'm Ken, VP of Technical Operations. We're developing electrified powertrains on top of fundamentally proven technology. This plane behind me uses a PT6 engine, which has been the engine of choice for this category for over 60 years, and it's now used on over 90 different airframes. Our fully electric model targets up to a 50% direct operating cost reduction and up to 100% carbon emissions reduction. Meanwhile, our hybrid electric model targets up to 25% direct operating cost reduction and up to 50% carbon emissions reduction. Combustion aircraft need regular engine overhauls every three to five years, so why not replace it with a cheaper and cleaner solution? It's kind of a no-brainer. We also plan for our powertrains to take full advantage of continuing advances being made with batteries. To be clear, though, we can make large operating cost reductions while at the same time delivering needed carbon emission reductions using the battery technology already on the market today. Our mission and path are clear. We have an achievable approach to certification that can bring our electrified technologies to the market faster and with more certainty. I'm Carl Albert, Chairman of the Board of Surf Air Mobility. I lived a long period of time in capital-intensive industries and manufacturing of aircraft. I've been on every side of this business. The business plan of Surf Air Mobility is realistic and achievable, primarily because we're not getting a new type certificate. We're not designing, developing, or attempting to certify a brand-new aircraft with new materials and new airframes. Instead, we're taking a proven aircraft manufactured by Cessna Aircraft Company, and we're modifying the propulsion system. I'm quite excited about our business plan. Good afternoon, everyone. Thanks for joining us. For the avoidance of doubt, I'm Ido, and this is Ken will be joining us in a minute. What we would like to share with you is what we believe is a pragmatic approach to electrifying regional air mobility. Our electrification story begins with the Cessna Caravan. As we mentioned earlier, it's one of the most prolific turboprop aircraft in the world, and we believe its performance and utility make it one of the best-suited airframes for an electrification upgrade via a supplemental type certificate. We have what we believe is a practical plan to develop fully electric and hybrid powertrains for the Cessna Caravan family, starting with the EX variant. Our technological approach plans to use existing supply chain components, which we believe require no major technological leaps. We expect this to create a strong IP position for Surf Air Mobility and allow for future upgrades of key components in the future. We also believe our commercial relationships not only strengthen our STC process, but also fortify our IP moat and commercial deployment in the future. These are long-term agreements with certain exclusivity rights around the Caravan, the powertrain, and the STC. Aircraft as a Service, which Stan described earlier, will play an important part in driving the mass adoption of our powertrain technology, and we believe that in the future, it will enable electrification on an industry level. Many new companies around the world are developing clean sheet, green electric aircraft. We believe that with these aircraft, when they're ready for deployment, Aircraft as a Service with a planned operator, customer base, would be a key go-to-market channel for these new aircraft. We made the decision to produce our first electrified aircraft via a supplemental type certificate or STC, rather than a type certificate or TC. This decision simplifies the regulatory process, reducing time to market and cost. Let me explain why. When you design a brand-new aircraft through a type certificate process, you have to design and integrate everything from airframe, flight controls, and avionics. This is not the path that we've chosen. Effectively, the only thing that we're doing is inserting an electrified powertrain into an existing Caravan airframe, and that simplicity is where we believe we win with the STC. Our STC process has already started. We've been working with the team at AeroTEC to engage the supply chain and begin down selecting the key components of the powertrain, and this process will culminate in the conceptual design review or CoDR, as you can see here. The CoDR is planned, currently planned for the end of this year. The CoDR will be followed by several design and certification milestones targeting an FAA-approved STC towards the end of 2025. It is our goal to have both the fully electric and the hybrid powertrains certified within that timeframe. The key components for our system will be based on existing technology and will not require any major technological breakthroughs. We plan for each of these major components to be certified individually by their respective manufacturers, allowing us to integrate those easily within the timeline described on the slide previously. As we like to say, this is about engineering, not science. Our two powertrain variants will have a high degree of component commonality. Both will have the same electric motor and associated high-voltage electronic components. The electric motor has one job, and that's spinning the propeller. The battery pack stores the energy, and in the fully electric variant, the battery will be the sole source of power. On the other hand, in the hybrid, we'll have a much smaller battery, will carry some of the energy. The rest will be made up by jet fuel. Unique to the hybrid is the turbogenerator. This is essentially a smaller and more fuel-efficient jet engine with an electric generator. We believe this component will enable our planned hybrid electric to be a much more flexible machine operationally, and this turbogenerator is designed to power the electric motor directly and will charge the battery in flight or on the ground. This extends the range of the system and is expected to make the hybrid independent of ground charging infrastructure. We believe this will make the hybrid able to replace the current combustion version of the Caravan on most flights flown today. Both the fully electric and the hybrid powertrains will be managed by control software. The software layer is expected to orchestrate the components during the different stages of the flight and allow the crew to both control the powertrain and monitor its status. The control software will be designed by our team and by our partners and is expected to be a key component of our IP moat. To sum it up, we plan on taking current component technology and integrating it into a new aircraft propulsion system. We plan to use our new system to replace what is essentially a 60-year-old engine design. By using an airframe that has millions of flight hours, we believe we are reducing the certification uncertainty. At the same time, we're creating a product that is targeted to have lower operating costs and emissions, which we believe will enable the growth of our business and this industry as a whole. Now, Ken will walk you through the more functional aspects of the powertrain. Thanks, Ido. Now that you have a better understanding of our proposed design of our powertrain system, I wanna spend some time on its planned performance and how we expect it will operate in flight. As part of our ongoing design process, we studied real-world data on how the Caravan is being used around the world. We discovered that our targeted hybrid performance would meet the requirements of approximately 90% of all Caravan missions flown today. We also discovered that our targeted fully electric, performance would meet the requirement for around 30% of all Caravan operations. Over time, we expect there to be a significant performance gains for both the powertrains as battery technology evolves and improves. Let's talk about how we envision our powertrains will work in flight. The fully electric powertrain is pretty straightforward. As the aircraft progresses through its mission phases, from takeoff through climb to cruise, and then to descent and landing, the battery is the power source. In contrast, the hybrid processes through the same phases of flight, initially drawing upon the battery to supplement the power of the turbogenerator during takeoff and climb. Once we get to that cruise phase, the turbogenerator will provide all the necessary power for cruise, with enough excess to charge the battery during cruise and descent. If the pilots choose, and the mission profile permits, we believe the hybrid can arrive at its destination with a full battery. To sum it up, we expect the electric model to have zero tailpipe emissions, with reduced direct operating costs, but at the same time, we expect it's gonna have a shorter range. In addition, the hybrid model is expected to perform most missions flown by Caravans today, but with lower emissions and with reduced operating costs when compared to conventional combustion Caravans. Now, Ido will walk through how we plan to bring these and potentially other aircraft to market. Ido? Thank you, Ken. We put together what we believe are key commercial relationships to successfully certify the electrified EP1 and deploy it in the market. We believe our commercial relationship with Textron is a key differentiator that will not only support our certification process, but also, under our exclusive sales and marketing agreement with Textron, enable us to leverage their strong market position, distribution channels, and global service network. Our AeroTEC partnership also provides for certain exclusive rights, both in the electrification technology and the certification process of the EP1. With Jetstream, we believe we have the financing to bring a substantial amount of EP1 aircraft onto our platform. There will be two ways for operators to buy our powertrain, but regardless of the sales channel, we believe that all powertrains will exist on the Aircraft as a Service platform. Once we've certified the powertrain, we anticipate the purchasers of the Caravan EP1 to go to Textron Aviation to buy their new EP1 aircraft. The financing for those aircraft and the ongoing usage of the powertrain will be managed via Aircraft as a Service. Additionally, we plan through our commercial partners to convert and upgrade existing turbine-powered Caravan aircraft using our EP1 STC. We expect to be targeting a price point equivalent to the cost of an operator's current engine overhaul. We envision a usage-based model to the operator, providing us a recurring revenue stream. Our plan is to have all the powertrains connected to us digitally and expect that the use of the data to use that data to monitor trends and to drive predictive maintenance as well as software upgrades. We're planning for aftermarket support of the EP1 to be done in existing Caravan maintenance facilities and by our partner, AeroTEC, and expect that as powertrains come in for periodic maintenance, they're likely to get component upgrades. We believe that we can keep the cost of aviation-grade batteries down by creating offtake agreements with the battery value chain, where we will only be responsible for a fraction of the battery's full economic value. As we mentioned earlier, our powertrains are being designed to be upgradable. We also believe that in the future, our technology could scale up to electrify larger and more powerful aircraft. In the future, we see an opportunity to collaborate with aircraft manufacturers to adapt our design for their aircraft. Additionally, we see an opportunity to help clean sheet manufacturers bring their aircraft to market by incorporating their aircraft, once they're certified, into our Aircraft as a Service program. I'll now turn it over to Deanna, our CFO, for the financial overview. Thanks, Ido. Welcome, everyone. Now I'd like to discuss the financial merits of the strategic decision to merge our two companies and unite them with a collection of industry-leading partnerships. We believe this combination will generate value for our investors and create a strong brand in the largely untapped regional air mobility space. Surf Air and Southern bring a couple of unique brands to the table that, when joined together, we believe will accelerate our network growth. When you think about Surf, I want you to focus on its direct-to-consumer technology platform and its pipeline of over 200 third-party operators. When you think about Southern, you should recognize that it has a decade of experience operating the Caravan aircraft, that it's the nation's largest commuter airline by scheduled departures, and has a strong pipeline of EAS contracts. Taken together, the strengths of these combined businesses will contribute to the achievement of network growth. When you overlay our partnerships with the combined strengths of our two businesses, we believe we can achieve our growth plan. Perhaps most importantly, we believe our partnerships will help minimize our spend as we go about achieving electrified flight. From Textron Aviation, we plan to lock in wholesale aircraft pricing, a dedicated sales distribution channel, and a data license that will accelerate the certification process. With Jetstream, we anticipate receiving attractive leasing terms, both for our own fleet and potentially for our AaaS customers. We believe the trust we've built with our partners allows us to achieve our ambitious vision for electrified flight in a capital-efficient manner. We believe our two companies, combined with our partnerships, position us at the center of the green air mobility category. It might seem like a complicated proposition to bring all these pieces together, but we've actually been integrating our businesses and working with our partners for some time. To cite a few examples, we began integrating our scheduled service operations 18 months ago, and now Southern fully operates all routes using Surf Air and Southern's fleet. We have grown our on-demand business to represent a pipeline of approximately 200 operators. We have developed a network plan to launch our Tier one routes and our developed operating plans to open new route locations. As previously been described, we and our partners are actively collaborating on a variety of projects. We believe we'll be able to hit the ground running while minimizing any integration risk. Now that I've explained the concept of integrating these three assets, I'd like to return to the flywheel and illustrate the investments that will be required. From a financial perspective, we think about investing in the business in a few different ways. The largest investment will be in the growth of our network. We need to acquire more planes, and that will require us to make deposits on our Textron Aviation order. Creating a consistent customer experience will require us to invest in new points of entry at regional airports across the country, and managing large-scale flight operations will require us to hire skilled professionals to keep our network functioning every day. Next, we plan to invest in our AaaS program, which requires launching a high-capacity leasing product, developing software tools with Palantir, and expanding our sales and marketing team to acquire a robust customer set of third-party operators. Lastly, electrification will require us to invest in the engineering and development of our STC, where we own the assembly and control software IP. It will also require us to develop our asset-light production capabilities and expand our distribution channels through Textron, Jetstream, and third-party maintenance, repair, and overhaul organizations. Our goal is for these investments to contribute to more passengers, more planes, and more profits from lower costs throughout the system. With respect to Surf Air and Southern's combined business, our scheduled service represents 47% of our revenues today. Essential Air Service represents 32%, and on-demand service represents 21%, in each case on a pro forma basis. I'd like to provide you with insight on how we look at the economics of our combined business. Scheduled service is the largest portion of our combined business. It generates revenue across approximately 6,200 flights per month, at an average of approximately $995 per flight, including subsidies. We believe that route selection, the frequency of service, and passenger load factors are the building blocks of this profitability. Generally, a route is initially launched with low introductory fares and load factors. We surveyed a sample of 6 routes within our network where we had a launch data. Under these routes, it took about 6 months for a route to break even and 12 months for it to reach steady state margins. In scheduled service, our medium-term goal is to increase flights flown 2.5x and average revenue per flight by approximately 50%. On-demand service is the fastest growing portion of our business today and generates revenue from approximately 140 flights per month, with an average revenue of approximately $9,000 per flight. We believe on-demand service is paramount to building our future pipeline of operators that will become customers of our scheduled service, AaaS program, and our electrified powertrains. AaaS subsidies generate revenue from approximately 17 EAS contracts as of 2022, which generate on average two and a half million dollars in revenue per contract. In EAS, given Southern's market position, we see more limited medium-term growth. Let's talk about our AaaS and electrification products and the economics of these pieces of the business. We plan to launch our AaaS program using combustion engines. From this product, we intend for third-party operators to have the ability to access aircraft through our Textron Aviation order, aircraft financing through our Jetstream facility, which we already use today, and we intend to develop operating tools with Palantir. We believe that during the pre-electrification phase, we can generate monthly leasing revenue from aircraft placed into this program and combustion engine recurring maintenance revenue billed monthly. If we can obtain our STC, our goal is that business will expand to include revenue from sales of electrified powertrains, coupled with its own recurring revenue for electrified powertrain maintenance. We believe the introduction of electrification will allow us to continue to improve the economics of scale, further expand our routes, and offer affordable ticket prices for customers currently making these trips by car. Our goal is for these routes in our network to generate sound unit economics using a combustible or electrified engine on an expanded network. It's a combustion engine, not a combustible engine. Serviced by our aircraft or our third-party operators' aircraft? We believe electrified aircraft will require less fuel and maintenance costs compared to combustion engines, which can lead to margin improvement. Additionally, we're targeting offering powertrains to operators at a similar price to their current engine overhaul cost. We believe these products will produce the ability to grow our network revenues. Our goal is to grow our network using AaaS operators, which we expect to reduce operations overhead compared to if we built this all ourselves. Turning to our historical financials for a moment, these are reflected in the registration statement that we filed today. It's public. Just briefly illustrates the historical information, but for both Surf and Southern separately, as they have yet to merge until we have our public listing. As I mentioned a few moments ago, we spent the last several years making significant investments in our platform. The investment activity has contributed to losses and negative EBITDA today, including from R&D, marketing and expansion, and some one-time transaction-related cost. That said, we believe investments can accelerate growth into the future, especially when combined with the capital resources we expect to have access to following the listing. We believe our scheduled service business will be the single largest contributor to EBITDA positivity. We believe we can achieve the economies of scale, and it can achieve through network growth and route maturity, especially if we succeed in deploying the EP1 to our customers. We believe the on-demand and EAS services, while smaller individual contributors to our targeted EBITDA positivity, are drivers of our network reaching larger scale. Eventually, having thousands of operators and aircraft flying nationwide will drive profitability in all areas of our business. We believe our Aircraft as a Service product will also be a large contributor to margins over the long term. We expect AaaS to have low customer acquisition costs, recurring revenue streams, and a differentiated product suite that we believe will benefit both from electrification and software partnership with Palantir. Our goal is for our planned AaaS products to expand significantly over time. As a reminder, the key parts of the revenue model today are: lease financing of aircraft, operating software tools, electrified powertrains, and the recurring powertrain maintenance. We believe electrification can be a profitability driver across all segments of our business, as we've described throughout the presentation. We believe electric powertrains will lower direct operating costs and could provide an attractive way for us to acquire customers and lock them into profitable, recurring revenue relationships. We plan to invest in our business over time, with a focus on responsibly deploying capital and using our organic growth to reinvest in a few key areas, including R&D for our platform and electrification, growing sales and marketing, building our brand, and providing coverage for G&A support. The ultimate goal of our strategic plan is to generate net income in the medium term. With that in mind, let's talk about sources and uses of our capital for a few minutes. Today, our underlying business needs an infusion of capital to support our network growth plan and our path to electrification. To make the required investments, we developed partnerships with two key capital providers, Jetstream Aviation and GEM Capital. As Susan mentioned early in the presentation, Jetstream is an off-balance sheet leasing facility that we believe will allow us to expand our fleet and our planned AaaS product without massive CapEx on our owned and operated fleet. Consumer airline operators today have almost no access to attractive wholesale leases, given the fractionalized size and nature of aircraft and airline ownership across the space. With Jetstream, we believe we can lower our cost of capital. Specifically, our agreement with Jetstream will give us the potential to access $450 million to deploy as we either receive a new plane from Textron or acquire used aircraft from the marketplace. As we receive each airplane, we will make a business decision whether we insert it into our own fleet or we put it in a sublease to an ACAS customer. Turning to our GEM capital relationship, we made a strategic decision to partner with GEM to secure capital both at listing and on an ongoing basis through the Share Subscription Facility. GEM has agreed to invest $25 million at listing that reflects an equity purchase of 1 million shares in Surf Air Mobility at $25 million per share $25 per share. The GEM Share Subscription Facility provides subject to meeting certain conditions, as further described in our S-1 we just filed, up to $400 million in capital, including 4 incremental advances of up to $100 million. To put a finer point on it, to the extent we're able to utilize the GEM advances of $100 million, we believe the GEM advances are able to provide the working capital we need to start executing our business strategy. We believe the sources of capital I just mentioned, to the extent we're able to utilize them, will fully fund our business plan in the medium term as we ramp up our operations. To turn to our uses of capital for a moment, we need to think about a few key segments. We believe our largest investment is the network expansion, which involves getting more planes, more people, and help support our AaaS program. While we have off-balance sheet financing through Jetstream, we will still need a healthy capital base to acquire and integrate the large fleet of airplanes that our growth plan ultimately requires. We expect to grow our employee base significantly, ranging from sales and marketing staff to pilots and to maintenance staff on the ground in locations around the country. We expect the certification process to absorb additional capital through R&D spend and supply chain expenditures. We anticipate this investment will really pay off if we're able to get an electrified powertrain out across our network, as I've already described. We're also investing in continuing to enhance our DTC passenger booking platform. As Liam mentioned, our passenger experience is something we're really proud of, and we believe we can continue to be an example to the rest of the commuter and on-demand communities. Another area of investment for us is in software for our operators. Through our Palantir partnership, we aim to roll out a completely differentiated platform for operators in the coming years. We believe that investment will bear fruit in the stickiness of the recurring revenue I previously mentioned. We are excited to see our investments pay off as we embark on the next stage of our growth. We truly believe that for our business, the sky is not the limit, it's the floor. I'm sure you can read this. Additional finance information is available in our publicly filed S-1 that we did today, including a description of our balance sheet, capital position, and overall capital structure, both on a historical basis and a pro forma basis after we incorporate the merger of Surf Air and Southern Airways. I'd like to hand it back to Sudhin to wrap this all up. Thank you, Deanna. I hope you've all enjoyed hearing more about our plans. I'd just like to remind us all of some of the key takeaways from the day. We feel like we have the right platform to deliver electrified air mobility at scale. We have an established business today that's a key differentiator. We're incredibly proud of the partnerships we've entered into to build out this new and growing ecosystem. We plan to build an incredible operator product with Aircraft as a Service, and we feel like we have a practical and achievable plan to get through the electric certification process. Particularly for our launch product, the electrified Cessna Caravan, we feel we've put all the right pieces together to de-risk our path to market. If we succeed, we believe we can have a leading position in a massive regional mobility market, and in doing so, we hope to be a high-quality ESG asset that will make an impact in communities and the environment across the country and around the world. We're incredibly excited to take this journey. We hope many of you will join us in the days, months, and years to come. We started this company to change the way people fly, and electrification will make this vision bigger and better than ever. A sustainable mass transport solution isn't just a dream. Surf Air Mobility is making it a reality. Connecting thousands of regional airports will meet the demand for cleaner, more affordable, and more convenient ways to travel. The transition to electrified flight is already underway, and we are at the center of it. As we enter a new era of flight, we believe the best of aviation is yet to come. Surf Air Mobility is bringing the next generation of flight to the next generation of flyer.