Rotorcraft
Blade Air Mobility Losses Ease as Pax Revenues Leap
Company posted a $3.5 million net loss
Blade NBAA-BACE 2021 shuttle service at Henderson Executive Airport (Photo: NBAA)
Blade saw a 5.4% gain in revenues in the first quarter. © NBAA

Blade Air Mobility’s net losses narrowed by $700,000 to a negative $3.5 million, and revenue increased by 5.4% to $54.3 million in the first quarter, the company reported on Monday.

The aviation services provider posted an adjusted EBITDA of negative $1.2 million in the first quarter, but that marked a $2.3 million improvement from the same period a year ago. In its passenger segment, the company posted a first-quarter adjusted EBITDA profit of $100,000, the first time it had done so in the quarter since going public in 2021. That profit also marked a $2.7 million turnaround from a year earlier.