Blade to Buy Commercial Activities of Three European Air Carriers
By Will Feuer
Blade Air Mobility Inc. said it has agreed to buy the commercial activities of Monacair SAM, Heli Securite and another unnamed helicopter operator in the South of France for about $50 million in cash.
The carriers will continue to own and operate their fleets, but Blade will be their exclusive customer. The carriers have also committed to working toward transitioning their fleets to electric vertical aircrafts, Blade said.
All flights and aircraft will be branded Blade, the company said, and Blade will develop branded passenger terminals at 10 airports, heliports and vertiports that exist or are under development in France, Monaco and Switzerland.
The three carriers generated an aggregate of EUR30 million in revenues while serving about 125,000 fliers in 2019, Blade said. Between the start of the year and April, the carriers’ charter business sales and flight hours were both about 30% above the same period in 2019, Blade said.
Blade said it will commence service in Europe in advance of the Monaco Grand Prix later this month with seven-minute flights between Nice, France and Monte Carlo, Monaco. Tickets are now available for purchase on the Blade app for $220 a seat, the company said.
Write to Will Feuer at Will.Feuer@wsj.com