On Thursday, Blade Air Mobility, a global air mobility platform, announced its acquisition of three urban air mobility (UAM) operators and is set to become the largest helicopter passenger service in Europe.
Monacair SAM, Héli Sécurité, and another unnamed helicopter operator in the South of France will be added to Blade’s growing international operations.
“These three acquisitions are core to our strategy of leveraging our asset-light model to aggregate the premier use cases for urban air mobility,” Blade CEO Rob Wiesenthal said in a statement. “As a result, Blade has now amassed what we believe to be the most valuable routes in the world.
“Adding this formidable presence in Europe to our existing operations across the greater New York area, Vancouver, and India, is a critical step in our expansion.”
As part of the acquisition, Blade will invite Monacair’s CEO, Damien Mazaudier, to assist the transition of the air carrier’s passenger services to Blade’s European division.
“Blade’s powerful global platform, technology, and brand, together with Monacair’s strong operating history, aircraft management business, strategic infrastructure, and customer trust is an unbeatable combination that will amplify urban air mobility in Europe,” Monacair co-founder Marco Casiraghi said in a statement. “On behalf of the Casiraghi family, we fully support and look forward to the European launch of Blade’s commercial services commencing this month with the Monaco Grand Prix [scheduled for May 29].”
According to Blade, the companies have entered into an agreement, with the transaction expected to close by this summer. Blade reports the total value of the sales to be $50 million.
“These acquisitions should contribute free cash flow on day one, accelerating our timeline to profitability while generating a great return on investment today that will only be enhanced by the future introduction of electric vertical aircraft,” Blade CFO Will Heyburn said in a statement. “Blade will now have unmatched scale in European urban air mobility, further diversifying our overall business.”
Blade says it will create branded passenger terminals at more than 10 airports, heliports, and vertiports across Europe. The company plans to commence operations ahead of the Monaco Grand Prix, offering seven-minute flights between Nice, France, and Monte Carlo, Monaco, for $220 per seat.