Private membership airline Surf Air flies away with $73 mln


Santa Monica, Calif-based Surf Air, an all-you-can-fly membership airline, has received $73 million in funding.

White Oak Global Advisors provided a $65 million senior facility while the remainder was raised in a round that included new investors ff Venture Capital and Plus Capital as well as previous backers Anthem Ventures, Velos Partners, Base Ventures and actor Jared Leto.

According to the company, the capital will be used to finance an order of up to 65 new Pilatus aircraft that will be delivered over the next five years. The total order value of the new jets are about $312 million.

In June 2013, the company raised $7 million in Series B funding. The investors in that round were Base Ventures and Velos Partners. And, a year before that, Surf Air closed $3.8 million in a Series A round in which the backers included Base Ventures, New Enterprise Associates, TriplePoint Capital and Leto.

Surf Air was launched in 2011 by Scott Craig Porter and David and Wade Eyerly. In a release announcing the funding, the firm’s CEO Jeff Potter says that Surf Air currently has over 900 members.

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