Blade Air Mobility Authorizes $20 Million Stock Buyback

Dow Jones03-20

By Will Feuer

Blade Air Mobility said its board of directors has authorized a $20 million share buyback program, seizing on a continued decline in the passenger- and organ-transportation company's stock price.

The company said the buyback program will let Blade take advantage of stock price dislocations. Blade cited its debt-free balance sheet and its expectation for positive adjusted earnings before interest, taxes, depreciation and amortization this year.

Shares of Blade are down about 20% from a year ago.

Write to Will Feuer at Will.Feuer@wsj.com

(END) Dow Jones Newswires

March 20, 2024 08:15 ET (12:15 GMT)

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