Blade Air Mobility has announced its financial results for the fiscal third quarter ended 30 June 2021. “Our strong growth versus both 2020 and the pre-COVID 2019 period shows the growing importance of affordable urban air mobility travel in the world's largest cities as well as the resilience of our multi-faceted, asset-light business model,” says Rob Wiesenthal, Blade's CEO. “We are well capitalised to execute on our organic growth plans as well as our acquisition roadmap, continuing our focus on building value for Blade's shareholders.”
CFO Will Heyburn adds: “A continued recovery of our short distance routes, with revenues now at 87 per cent of pre-pandemic levels, coupled with strong growth in MediMobility and jet versus last year, drove great results this quarter. While hybrid remote-office work patterns have benefited Blade's commuter business throughout the pandemic, we continue to closely monitor potential impacts to travel from the Delta variant.”
Blade is seeing great early signals from its re-launch of Blade Airport in June, offering five-minute flights between Manhattan and New York City area airports for $195 or $95 with the purchase of an annual pass. After two months of operation, its current weekly volume is well ahead of the same point in its initial 2019 launch.
Total revenues are up 277 per cent to $13.0 million in third fiscal quarter 2021 versus $3.4 million in the prior year 2020 period; up 73 per cent versus pre-COVID 2019 period revenues of $7.5 million.