Blade Air Mobility posted strong revenue growth last year and CEO Rob Wiesenthal told AIN that he expects the trend to continue. “We were pleasantly surprised on the revenue side where we beat pretty much all the analysts’ estimates. We restarted our airport [shuttle] products and started beating—on a run-rate basis—the 2019 pre-pandemic number of flights to JFK [airport] and back. Leisure routes that only used to run on weekends have become seven-day-a-week businesses.”
Meanwhile, Wiesenthal said, the company's financials were “substantially improved.” Revenues for the year increased 156 percent, to $67.2 million. In the fourth quarter, revenues jumped 208 percent year-over-year, to $24.6 million, and were up 371 percent from the same period in 2019. Blade reported that “short distance” revenues soared 191 percent, to $6.2 million, in the quarter. Although Blade remains in a mode that focuses market growth over profitability, Blade still managed to post an $800,000 profit in the fourth quarter.
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