Advanced Air Mobility Modern Flying News

Blade Air Mobility Sees Growth in Medical, Stagnation in Passenger Services

Firm is continuing to progress toward profitability and eVTOL flights.

Tuesday, May 16, 2023 at 01:31 PM ET

Verified

Adorned with the Blade logo, Beta’s ALIA-250 eVTOL soars over Westchester County Airport. [Photo: Blade Air Mobility]

Key Takeaways:

Blade Air Mobility reported strong Q1 2023 financial results, with overall revenue increasing 70% year-over-year, primarily driven by its highly profitable MediMobility Organ Transplant service.
The passenger segment experienced revenue growth but a slight EBITDA loss, mainly due to initial European expansion and a decline in long-range jet charters, though short-distance services like "Blade Airport" showed promising growth.
While preparing for future urban air mobility with eVTOL aircraft, Blade's immediate focus is on deploying its significant liquidity for strategic acquisitions to generate attractive returns and enhance long-term value today.

See a mistake? Contact us.

This past Valentine’s Day, love wasn’t the only thing in the air.

Soaring over Westchester County Airport (KHPN) in White Plains, New York, was Beta Technologies’ ALIA-250 eVTOL aircraft, part of a flight test between Beta and partner Blade Air Mobility (NASDAQ: BLDE) as the latter looks to transition to an air taxi service.

Jack is a staff writer covering advanced air mobility, including everything from drones to unmanned aircraft systems to space travel—and a whole lot more. He spent close to two years reporting on drone delivery for FreightWaves, covering the biggest news and developments in the space and connecting with industry executives and experts. Jack is also a basketball aficionado, a frequent traveler and a lover of all things logistics.