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Blade Air Mobility

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Blade Air Mobility, Inc.(stylized asBLADE) is an aviation company headquartered inNew York Cityand incorporated in Delaware. Blade'surban air mobilityplatform provides air transportation for passengers and last-mile critical cargo,[2][3]primarily usinghelicoptersandamphibious aircraftfor passenger routes in the United States, Canada, Southern Europe, and India, in addition to being one of the largest air medical transporters of human organs fortransplantin the world.[1]Blade began trading on theNasdaqon May 10, 2021, via aSPACmerger.[4][5]

Blade Air Mobility, Inc.
Company typePublic
Nasdaq:BLDE
Industry
  • Transportation
  • Aviation
FoundedMay 2014;10 years ago(2014-05)
Founder
Headquarters
New York City,New York
,
United States
Key people
  • Rob Wiesenthal
  • Melissa Tomkiel
  • Will Heyburn
  • Amir Cohen
Services
  • Helicopter transfer and charter
  • Scheduled air service
Revenue$146.1 million (2022)
Number of employees
246 (2022)
Websiteblade
Footnotes / references
[1]

Business and operations

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Short Distance

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Blade seaplane

Blade's Short Distance business allows passengers to book seats directly from the Blade mobile app on flights operating between Blade terminals inNew York,Vancouverand SouthernEurope.Flights are typically between 10 and 100 miles in length and are primarily serviced onhelicoptersand amphibiousseaplanes.Short Distance flights are also available on a fullaircraft charterbasis.[2]Flights can also be crowdsourced at customer-selected times, where empty seats are sold to other flyers.

Blade's Short Distance business operates in markets with significant population density, where the primary competition is ground or ferry transportation. In 2022, Blade's Short Distance business generated $45 million in revenue.[6]

Blade's first Short Distance route was launched in 2014, offering passenger service between Manhattan,Southampton,East Hampton,andMontauk.[7]In March 2019, Blade launched BLADE Airport, which offers continuous service for passengers traveling between Manhattan andJohn F. Kennedy International Airport.[8]BLADE Airport service was temporarily suspended during the COVID-19 pandemic, but was relaunched in June 2021[9]for passengers traveling betweenManhattanandJFK Airport.In November 2021, Blade launched an additional BLADE Airport route for passengers traveling between Manhattan andNewark Liberty International Airport.[10]

In December 2021, Blade entered the Vancouver market with the acquisition of the exclusive rights toHelijet's scheduled passenger business.[11]At the time of the acquisition, Helijet was operating at an annualized revenue run-rate that was about 50% of its pre-COVID-19level of US$15 million.[11]In September 2022 Blade completed the acquisitions of the commercial passenger transport activities of three urban air mobility operators:[12]MonacairSAM, Héli Sécurité, and Azur Hélicoptère.[12]

Key Routes

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MediMobility Organ Transport

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In 2021 Blade's MediMobility Organ Transport business, acquired Trinity Air Medical,[17][18]becoming the largest dedicated air transporter of human organs for transplant in the United States. The division provides hospitals and organ procurement organizations with an end-to-end multi-modal solution incorporating rotorcraft, fixed-wing aircraft, and ground vehicles. Blade MediMobility missions utilize the same aircraft that service passenger flights, with demand typically occurring at night, complementing consumer demand during the day. Blade believes organ transport represents a clear use case for future drone or EVA adoption, particularly given necessary infrastructure and landing zones are already in place at many hospitals. In 2022, Blade's Short Distance business generated $71.8 million in revenue.[6]

Business Model

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Blade utilizes an asset-light business model in which the company does not own nor operate aircraft,[1]but rather partners with a vast network of aircraft operators[19]who are vetted for safety, operational excellence and financial wherewithal. Blade's business model was designed to be scalable and profitable using conventional aircraft, while providing the foundation to enable a seamless transition toElectric Vertical Aircraft(EVA or eVTOL) in the future.[2]Electric Vertical Aircraft are expected to offer reduced noise, zero emissions, and lower operating costs relative to conventional aircraft.[20]

In April 2023, Blade's CEO,Robert Wiesenthal,said "the goal of Blade was to create the entire ecosystem required for EVAs outside of the manufacturing of the aircraft, the operating of the aircraft, and the maintenance of that aircraft".[21]Instead, Blade primarily focuses on terminal infrastructure, technology, and brand recognition.[21]

History

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2014–2016

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Blade Entrance to West 30th Street Heliport

Blade was founded byRobert S. Wiesenthaland launched onMemorial Day(May 26) of 2014, with service between Manhattan,Southampton,East Hampton,andMontauk.[7]

Over the 2014Fourth of Julyweekend, Blade partnered withUberto power UberChopper, a service that allowed Uber users to book a helicopter through their mobile application toThe Hamptons.[22]

In December 2015, Blade expanded its offerings and launched BLADEone, a seasonal by-the-seat jet service between Manhattan and Miami or Manhattan and Aspen. The inaugural flight took place on December 3 in conjunction withArt Basel.

In September 2015 during theUN General AssemblyandPope Francis's visit to NYC in 2015, Blade offered a 6 minute[23]cross town shuttle departing every 15 minutes.[24]

During the 2016Sundance Film FestivalBlade provided jet service on the BLADEone jet between NYC and the festival. They created a lounge located in a residence on a private farm[25]and offered heli transfers fromSalt Lake City International Airportto the property,[25]located minutes from downtown.

In partnership with Uber Boston, Blade launched Uber Air over Memorial Day 2016 with scheduled flights between Boston and the Blade Lounge inNantucket.Utilizing a nine-passengerCessna Grand Caravanturboprop plane fromBostonto the island, Blade was able to cover the 90-mile distance in 40 minutes.[26]

2017–2019

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In 2017 it began service betweenManhattanandThe Hamptonsand to more than 20 camps inMaine,Vermont,Pennsylvania,andupstate New York.[27]

In March 22, 2018 Blade completed its Series B Financing. Lead investors Colony-North Star and Lerer-Hippeau were joined by Airbus Helicopters andLionTreeVentures.[28]

In December 2018, Blade announced its intentions to launch an Urban Air Mobility Pilot Program in India. Blade is operating the service in partnership with equity investment firm Hunch Ventures. Blade India, launched in fall 2019, enables fliers to travel by helicopter between Blade Lounges at urban heliports. Initial routes connect the cities of Juhu and Mahalaxmi with heliports in Pune and Shirdi.[29]

2020–present

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In 2020 in partnership with Andrew Saffir, creator of The Cinema Society, Blade hosted a socially distanced, drive-in premier ofDisney+'sArtemis Fowlin June 2020.[30]

In November 2020, Blade became the first aviation company to require pre-boarding coronavirus testing for flights within the United States. The tests were distributed by CrowdRX, a division of Global Medical Response.[31]

On May 10, 2021, Blade became the first publicly traded urban air mobility company.[32]In listing the company it changed its name from Blade Urban Air Mobility to Blade Air Mobility. The stock offering was handled through theSPACmerger of Experience Investment Corp. (sponsored by KSL Capital Partners) with BLADE Urban Air Mobility, Inc. The new company became BLADE Air Mobility. BLADE Urban Air became a wholly-owned subsidiary.[32][33]

In September 2021, Blade announced the acquisition of Trinity Air Medical, a nationwide organ logistics and transportation company, for an upfront purchase price of $23 million. Trinity's end-to-end services integrate air missions with ground transport.[34]

In December 2021, Blade entered the Vancouver market with the acquisition of the exclusive rights toHelijet's scheduled passenger business, for which Blade paid approximately $12 million.[11]At the time of the acquisition, Helijet was operating at an annualized revenue run-rate that was about 50% of its pre-COVID-19level of US$15 million.[11]

In May 2022, Blade announced it would acquire the asset-light commercial passenger transport activities of three European urban air mobility operators: Monacair SAM, Héli Sécurité and Azur Hélicoptère.[35]

In June 2022, Blade announced a partnership withJetBluein which JetBlue's Mosaic+ members would receive complimentary seats on Blade Airport helicopter transfers when connecting to or from JetBlue flights at JFK or EWR.

Blade conducted a test flight of an eVTOL aircraft atWestchester County Airporton February 14, 2023, marking the first time that such a piloted aircraft was tested in the tri-state area.[36]

Opposition

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There has been pushback withinThe Hamptonscommunity against increased air traffic at the localEast Hampton Airport.Opponents claim that noise levels have increased as a direct result of increased air traffic.

East Hampton Airport has long been owned and operated by the local municipality. This has caused a significant rift in the community, as politicians and residents fight over whether to acceptFederal Aviation Administration(FAA) funds or not. Recently, the Town of East Hampton reached an agreement with the FAA to self-fund the airport, allowing them to impose stricter rules on air traffic.[37]

On April 16, 2015, The Town of East Hampton voted to adopt strict laws limiting air traffic in and out of the East Hampton Airport. Beginning summer of 2015, there was a ban on all flights from 11:00PM to 7:00AM. Any aircraft that fell under the Town's classification of "noisy" —aircraft with an Effective Perceived Noise in Decibels (EPNdB) approach level of 91.0 or greater—was forbidden from taking off or landing from 8:00PM to 9:00AM all year and was limited to one landing and one takeoff per week. There is currently a lawsuit against the FAA for its part in waiving grant assurances that allowed the Town to enact these rules.[38]

In September 2023, six protestors with the groupExtinction Rebellionwere arrested outside the W. 30th Street Heliport. The protestors targeted Blade and other operators for producing an outsize share of "luxury emissions".[39]

Incidents

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On May 15, 2019, aBell 206helicopter operated by Zip Aviation made an emergency landing on floats on the water near the W. 30th Street Heliport in New York City.[40]There were no passengers on board.[41]The pilot was uninjured and immediately exited the aircraft after landing.[42]At the time of the incident, the helicopter was being repositioned for fueling by the operator and was not flying for Blade.[41]

References

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  1. ^abc"Annual Reports".Blade Air Mobility, Inc.2023.
  2. ^abc"Blade November 2022 Investor Presentation"(PDF).
  3. ^"BLADE LinkedIn Profile".
  4. ^"Blade to Begin Trading Today on the Nasdaq Stock Market Under Ticker Symbol" BLDE "".Business Wire(Press release). May 10, 2021.
  5. ^Sorkin, Andrew Ross; Karaian, Jason; Merced, Michael J. de la; Hirsch, Lauren; Livni, Ephrat (2020-12-15)."Blade Takes Off for the Stock Markets".The New York Times.ISSN0362-4331.Retrieved2023-12-29.
  6. ^ab"Blade Air Mobility Reports Financial Results for the Fourth Quarter and Calendar Year Ended December 31, 2022".14 March 2023.RetrievedApril 18,2023.
  7. ^abKirby, Jen (June 25, 2014)."'Beats by Dre for Aviation': This App Will Helicopter You to the Hamptons (With a Maserati As Backup) ".Daily Intelligencer.RetrievedJanuary 18,2017.
  8. ^"BLADE Launches Helicopter Flights to and From JFK All Day Long"(Press release). Business Wire. March 25, 2019.
  9. ^"Blade Restarts Service Between Manhattan and New York City Area Airports"(Press release). Blade Air Mobility, Inc. April 26, 2021.
  10. ^"Blade Air Mobility Announces Expansion of Airport Service with New Route Between Newark and Manhattan"(Press release). Blade Air Mobility, Inc. November 19, 2021.
  11. ^abcd"Blade Acquires Exclusive Rights to Helijet's Scheduled Passenger Business in Canada; Flights Will Continue to Utilize Helijet Owned and Operated Aircraft"(Press release). Blade Air Mobility, Inc. December 2, 2021.
  12. ^ab"Blade to Acquire Three Urban Air Mobility Companies Creating Largest Helicopter Passenger Service in Europe"(Press release). Blade Air Mobility, Inc. May 19, 2022.
  13. ^ab"Blade Air Mobility Announces Expansion of Airport Service with New Route Between Newark and Manhattan".Blade Air Mobility, Inc.(Press release). 19 November 2021.
  14. ^"Helicopter to your beach house? There's an app for that".CNBC.May 21, 2014.
  15. ^Head, Elan (December 2, 2021)."With Helijet deal, Blade Air Mobility stakes claim to key West Coast markets".VerticalMag.
  16. ^"BLADE | Helicopter Between Nice and Monaco".April 18, 2023.
  17. ^"Welcome - Trinity Air Medical - Request A Transport Today".Trinity Air.
  18. ^"Blade Air Mobility Announces Definitive Agreement to Acquire Trinity Air Medical, Creating a Nationwide, Multi-Modal Organ Transport Platform"(Press release). 9 September 2021.
  19. ^Head, Elan (December 16, 2020)."Helicopter booking service Blade goes public, with an eye toward future eVTOL ops".Vertical Mag.
  20. ^"Electric Vertical Take-Off & Landing (eVTOL) Aircraft Market Expected To Exceed $200 Million By 2027".prnewswire(Press release). March 10, 2021.
  21. ^abCarroll, Robert (12 April 2023)."Rob Wiesenthal saw the future before you did".airframe.substack.Retrieved2023-04-18.
  22. ^Merced, Michael J. de la (July 2014)."Blade, a Helicopter-Booking App, to Partner With Uber".The New York Times.RetrievedJanuary 18,2017.
  23. ^"Need To Avoid Pope Traffic? Take A Helicopter For $95".Inside Edition.September 24, 2015.RetrievedJanuary 18,2017.
  24. ^Sutherl, Amber; Fredericks, Bob (September 24, 2015)."Avoid papal traffic with a $95 helicopter ride".New York Post.RetrievedJanuary 18,2017.
  25. ^abDobson, Jim (January 28, 2016)."The Best of Park City: Celebrities and Billionaires Flock to this Snowy Mountain Utah Escape".Forbes.RetrievedJanuary 18,2017.
  26. ^Jameson, Daniel (May 20, 2016)."This Summer, Book an Airplane Ticket—Through Uber".Condé Nest Traveler.RetrievedJanuary 18,2017.
  27. ^Dangremond, Sam (July 15, 2016)."Why Drive to Summer Camp When You Can Take a Helicopter?".Town & Country Magazine.RetrievedJanuary 18,2017.
  28. ^"Blade completes Series B Financing, enters alliance with Airbus".
  29. ^Iyengar, Rishi (December 4, 2018)."A helicopter app for the wealthy plans to tackle Mumbai's traffic".CNN.RetrievedApril 8,2019.
  30. ^Weiss, Zachary (15 June 2020)."Drive-In Movie Raises over $200,000 For East End Food Pantries".Dan's Papers.Retrieved2021-01-07.
  31. ^Gollan, Doug (November 20, 2020)."BLADE Adds Pre-Flight COVID Tests For Shared Private Jet Flights".Forbes.Retrieved2021-01-07.
  32. ^ab"Blade Completes Business Combination Becoming the First Publicly Traded Urban Air Mobility Company"(Press release).Business Wire.May 7, 2021.
  33. ^"Experience Investment Corp. Announces Special Meeting Date to Approve Proposed Business Combination with Blade Urban Air Mobility".Blade Air Mobility, Inc.April 7, 2021.
  34. ^"Blade Air Mobility Announces Definitive Agreement to Acquire Trinity Air Medical, Creating a Nationwide, Multi-Modal Organ Transport Platform"(Press release). September 9, 2021.
  35. ^"Blade to acquire Monacair and two French heli operators".HeliHub.2022-05-23.Retrieved2022-05-23.
  36. ^Kesslen, Ben."Blade's futuristic new 'helicopters' that will bring NYC's elite to the Hamptons — quietly".New York Post.RetrievedFebruary 15,2023.
  37. ^Ruiz, Michael (March 24, 2015)."As Season Nears, Helicopter Issue Roils Hamptons".The Wall Street Journal.RetrievedJanuary 18,2017.
  38. ^"Aviation Groups Sue East Hampton Town In Effort To Block Recently Approved Airport Restrictions".27 East.April 16, 2015.RetrievedJanuary 18,2017.
  39. ^Rotorcraft, Mark Huber • Contributor-."Environmentalist call heliport protest 'last resort.' | AIN".Aviation International News.Retrieved2023-12-14.{{cite web}}:|first=has generic name (help)
  40. ^Weissmann, Ruth; Taylor, Alex; Jaeger, Max (15 May 2019)."Helicopter goes down in Hudson River".New York Post.
  41. ^abBerger, Paul; Chapman, Ben (15 May 2019)."Helicopter Crashes in New York City's Hudson River; No One is Seriously Hurt".The Wall Street Journal.
  42. ^@NYPDSpecialops (15 May 2019)."#NYPD Harbor secures a helicopter that fell into the Hudson River moments after taking off from the W 30th Street h…"(Tweet) – viaTwitter.
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