The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
By Jeffrey Goldfarb
NEW YORK, Dec 13 (Reuters Breakingviews) - Blank-check hype helped elevate Blade’s $825 mln valuation until the euphoria landed with a thud. Since then, the company has found more success transporting organs than Manhattan or Monaco jet-setters. The promise of quieter electric aircraft is another reason to go for a ride.
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CONTEXT NEWS
Blade Air Mobility said on Nov. 12 that its revenue increased about 5% to $75 million in the third quarter from a year earlier and that its passenger business achieved positive adjusted EBITDA on a trailing 12-month basis ahead of earlier guidance to do so by the end of 2025.
The company, which transports passengers and human organs for transplant by helicopter, expects to generate $240 million to $250 million of revenue in 2024, as well as a double-digit rate of revenue growth in its medical division in 2025.
(Editing by Jonathan Guilford and Pranav Kiran)
((For previous columns by the author, Reuters customers can click on GOLDFARB/jeffrey.goldfarb@thomsonreuters.com))
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