Blade Air Mobility's Financial Results for the Q2

Blade Air Mobility, a technology-powered air mobility platform has announced financial results for the second quarter ended June 30, 2022 today, proudly showing how revenue had increased by 175% to $35.6 million. The company saw short-distance flight revenue increase 89% to $11.0 million versus $5.8 million in the same period last year, driven by the acquisition of Helijet's passenger routes in Vancouver as well as the resumption of the Blade Airport service.

"Blade delivered record revenue and Flight Profit this quarter, with strong growth across all business lines," said Rob Wiesenthal, Blade’s Chief Executive Officer. "We have seen continued strength in our consumer-facing businesses with revenue and average seat prices for both the second quarter and third quarter to-date well ahead of our 2019 and 2021 levels. Given unwavering demand from our fliers coupled with continued strong sequential growth in our MediMobility Organ Transport business, Blade has proven it is well positioned to thrive in this uncertain macroeconomic environment."

"Our strong financial performance is a testament to our success in leveraging the Blade platform across the diverse portfolio of businesses that we have built and acquired since our inception," said Will Heyburn, Blade’s Chief Financial Officer. "By deploying our brand, aircraft operator network, and technology-enabled logistics and customer service, we have significantly accelerated growth, including in our MediMobility Organ Transport business, which experienced 139% pro forma organic growth compared to the prior year period."

"We look forward to closing our acquisitions in Europe, where our roll-up of the commercial activities of three prominent urban air mobility operators will fortify Blade’s leadership in the region,” said Melissa Tomkiel, Blade's President. "Our urban air mobility alliance with JetBlue has now been launched, providing preferred pricing and other benefits for seamless air transport between Manhattan and New York area airports for the TrueBlue loyalty program membership base.”

Second Quarter Ended June 30, 2022 Financial Highlights

Blade expands its MediMobility division

Blade Air Mobility has confirmed today the expansion of its organ transportation business, with the addition of 14 transplant centres and Organ Procurement Organizations in the U.S. During 2022, Blade’s MediMobility division will serve more than 40 hospital clients across 20 states.

Operations expand to Maryland, Virginia, Arkansas and Oklahoma; new clients include Mount Sinai's recently launched lung program and Piedmont Hospital

Additional dedicated aircraft, owned and operated by third parties and available coast-to-coast, will serve both Blade’s individual consumer fliers and medical clients

Expansion follows Blade’s acquisition of Trinity Medical Solutions and solidifies the company’s position as the largest dedicated air transporter of human organs for transplant in the United States

Scott Wunsch, COO of Blade MediMobility said, "Our expanded footprint provides immediate benefits for all of the transplant centres and OPOs we serve. By leveraging the growing buying power of both Blade’s individual consumer fliers and hospital clients, we have secured dedicated access to more aircraft in more locations at very favorable rates. Additionally, we can now offer standby access to aircraft in new geographies, enabling unprecedented flexibility to pursue organs that might otherwise go unused. This is a significant value add to our clients, especially given the tight availability of certain types of charter aircraft currently."

"Our integrated, the multimodal offering enables transplant programs to reduce organ transport time and cost, resulting in improved patient and program outcomes. Blade's last-mile offering, currently serviced by captive helicopters and ambulances, continues to expand with these new hospital additions,” said Will Heyburn, CFO of Blade. “We are leveraging our unmatched scale in critical last-mile delivery to push towards a transition to drones and Electric Vertical Aircraft, or EVA, enabling further reduced transport time and cost.”

Mr Heyburn added, “Given the existing on-site landing pad infrastructure at most of our client hospitals as well as our EVA manufacturer partnerships, we believe our MediMobility division is well-positioned to utilize these new aircraft as soon as they are available for commercial use, reducing our hospital partners’ need for intermodal ground transport.”

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Blade Enters into Alliance with magniX for the Electrification of Lima’s Amphibious Seaplanes for Urban Air Mobility Flights on Key Blade Routes

Blade Urban Air Mobility, a technology-powered urban air mobility platform, announced an alliance whereby magniX USA Inc, a leading manufacturer in electric aviation, will supply its Electric Propulsion Units to Lima NY Corp, one of Blade’s largest aircraft operating partners, for the conversion of Lima’s Blade-branded fleet of amphibious Cessna Caravans to all-electric aircraft starting in early 2023, subject to certain conditions.

Blade is the exclusive platform for Lima flights offered to the public. Key routes include flights between the Blade Aqua Lounge at the East 23rd Street seaplane base in New York City, the eastern end of Long Island, New York, and the Blade Terminal in Nantucket, Massachusetts.

Based on current estimates, the all-electric Caravans will operate emission-free at the same speed as the current generation turbine Caravans, with a significantly reduced noise footprint and lower operating costs.

As part of the alliance, Lima will be the exclusive owner in the northeast United States of the supplemental type certificate (“STC”) for the conversion of the Caravan’s current generation turbine engine to the magniX EPU.

Blade Restarts Service Between Manhattan and New York City Area Airports

    KAYAK will offer Blade Airport service to KAYAK users purchasing seats on commercial flights to or from JFK airport
    Blade Airport flights will begin with service between Manhattan and JFK airport starting June 1, 2021
    Expanded hours and the additions of LaGuardia and Newark airports to start by Fall

BLADE Urban Air Mobility, has announced the relaunch of its New York Airport service starting June 1, 2021, providing air connectivity between Manhattan and John F. Kennedy Airport JFK. Initially launched in 2019, the shared helicopter flight service is believed to be the largest Urban Air Mobility UAM initiative in the United States. In the first phase of the relaunch, flights will operate during peak rush hour times between Blade terminals at convenient Manhattan heliport locations and JFK, with ground transportation included between the JFK helipad and all commercial terminals for $195 per seat or $95 per seat with the purchase of an annual Airport Pass. Blade intends to also relaunch service to include continuous daily availability and flights to Newark Liberty International Airport and LaGuardia Airport by Fall 2021. 

Blade orders 20 BETA Technologies electric vertical aircraft for delivery in 2024

Blade Urban Air Mobility, Inc, the technology-powered urban air mobility platform, has confirmed this week that it has agreed to secure up to 20 BETA Technologies (“BETA”) ALIA Electric Vertical Aircraft (“EVA”) for purchase by its network of operators, subject to certain conditions. 

 The agreement includes a commitment for Blade operators, or third-party financing sources who will enter into leasing arrangements with operators, to purchase up to 20 of BETA’s first passenger-configured EVAs, scheduled for delivery beginning in late 2024, ahead of the Company’s 2025 target for its launch of EVA services. Blade intends to deploy these initial BETA EVAs on routes between its network of dedicated terminals in the Northeast, where BETA has agreed to provide and install charging infrastructure at certain key locations.

Blade's latest figures.

Blade Urban Air Mobility has reported its latest results for the first quarter of 2021, which showed revenues were up 53% in a period that also saw the firm launch strategic infrastructure initiatives including Chicago and Westchester vertiport alliances.

 “Our focused pursuit of new service and market expansion opportunities will enable us to fly a greater number of passengers between our private terminals in the U.S. and abroad, while maintaining profitable unit economics using current aviation technology. As Electric Vertical Aircraft ("EVA") become certified for commercial use, the value of Blade’s urban air mobility platform will continue to grow. We are also pleased with the progress EVA manufacturers are making towards FAA certification, which is required for commercial service,” said Rob Wiesenthal, Blade’s Chief Executive Officer.

Wiesenthal continued, “With nearly 100 different EVAs currently in the design and certification process, our asset-light model provides us with the flexibility to choose the right aircraft for each of our routes so Blade fliers can enjoy safe, cost effective, quiet and zero emission air mobility across our network as these next-generation aircraft become available.”

Blade and Ross Aviation to form strategic alliance

Blade and Ross Aviation to work together to mutually develop plans for a vertiport in Westchester and to offer Blade services at Ross Aviation locations in Massachusetts and California

     

BLADE Urban Air Mobility and Ross Aviation have entered into a strategic alliance to speed up the roll-out of urban air mobility services in the regions where Ross Aviation and Blade operations overlap. 

In December of 2020, Experience Investment Corporation agreed to merge with Blade, which will create the only publicly traded urban air mobility platform in the United States.

Ross Aviation has its headquarters in Denver and is dedicated to soaring higher in the flight hospitality services they provide. The firm currently operates 17 fixed base operations (FBOs) under the Ross Aviation, Rectrix Aviation, Alaska Aerofuel, Island Air and Great Circle Aviation Services banners.