Here's How Blade Air Mobility Looks To Amass Best Helicopter Routes For Seamless Transition To Electric Vertical Aircraft - Blade Air Mobility (NASDAQ:BLDE)

Helicopter shuttle company Blade Air Mobility, Inc BLDE bagged deals worth €48 million with Monaco’s royal family members, Ferrari N.V. RACE shareholder John Elkann and others to begin flying passengers between the French Riviera, Monte Carlo and the ski slopes of Courchevel, the Financial Times reports.
The U.S. group, which counts Ark Invest’s Cathie Wood among its most prominent investors, has agreed to buy the routes and heliports of Monacair, Héli Sécurité, and a third unnamed European operator.
“The whole business model behind Blade is to accumulate the best routes, infrastructure, and customers in the world who are currently traveling by helicopter . . . and then providing those businesses with a seamless transition for electric vertical aircraft,” CEO Rob Wiesenthal said.
The investment is also a bet on a revival in high-end business and leisure travel and Western sanctions on Russia.
Monacair runs 50 scheduled flights a day between Nice Airport and Monaco, while Héli Sécurité’s 16 serves St Tropez and the Swiss Alps. One industry member in Europe identified the third company as Cannes-based Azur Hélicoptère, whose investors include Oaktree Capital Management.
The three companies will retain their fleets. Blade will be their sole customer, extending an asset-light strategy.
The U.S. group has sought to put its brand on the most popular routes served by helicopters before the expected arrival of a new generation of electric vertical aircraft, known as eVOTLs or EVAs.
Blade has contracted with four EVA developers for deliveries starting in 2024.
The group has expanded from New York, serving the city’s airports and resorts like the Hamptons, to bases in Vancouver, Canada, and India.
Price Action: BLDE shares closed higher by 0.14% at $7.03 on Wednesday.
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