Benzinga | Jul 20, 2021 03:05PM EDT

Textron Aviation Receives Order For Up To 150 Cessna Grand Caravan EX Aircraft

Textron Inc. (NYSE:TXT) announced that Surf Air Mobility had signed a purchase agreement with Textron Aviation for up to 150 Cessna Grand Caravan EX single-engine turboprop aircraft, with an initial fleet order of 100 aircraft and an option for 50 more.

* The order from Surf Air Mobility, a company accelerating the adoption of electric regional air travel, is part of an exclusive relationship between the two companies supporting Surf Air Mobility's development of electrified Cessna Grand Caravan aircraft.

* Textron Aviation's initial deliveries of the Cessna Grand Caravan EX aircraft to Surf Air Mobility are expected to begin in Q2 2022.

* "This relationship with Surf Air Mobility leverages the unique performance capabilities of the Cessna Grand Caravan in both passenger and cargo operations and continues to demonstrate the aircraft's adaptability for innovative missions and configurations," commented Ron Draper, President & CEO, Textron Aviation.

* Price action: TXT shares are trading higher by 5.33% at $66.94 on the last check Tuesday.