BREAKINGVIEWS-Helicopter SPAC deserves another whirl

Reuters12-13

BREAKINGVIEWS-Helicopter SPAC deserves another whirl

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.

Full view will be published shortly.

Follow @jgfarb on X

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))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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