Story ID: 
Blade's Revenues and Losses Jump
By: Mark Huber
Caption: Gains led by organ transport business
Word Count: 198
Blade Air Mobility continues to post higher revenues, as well as losses. In the second quarter, the helicopter passenger ridesharing and medical organ transplant transport company saw revenues jump 42.7 percent (adjusted for the acquisition of Blade Europe) from the year-ago period to nearly $61 million. Meanwhile, its MediMobility division revenues virtually doubled from $17.2 million to $34.4 million over the past year.
Short-distance passenger helicopter revenues increased by 6.2 percent to $19.18 million, and jet revenues were flat at $7.4 million, a 0.2 percent decrease from the year-ago period. Revenues for the first six months of 2023 increased by 42.3 percent to $106.28 million, up from $74.66 million from the year-ago period. However, losses from operations also increased to $12.2 million, up from $9.7 million in second-quarter 2022.
"Blade's record performance this quarter illustrates the value proposition of our diversified business model," said CEO Rob Wiesenthal. "In MediMobility organ transport, we continue to benefit from new organ preservation technologies that are expanding the market, as well as the addition of a number of new transplant center and organ procurement organizations. In our passenger business, we saw strong volume and pricing growth in the Northeast, particularly for our five-minute helicopter transfers between Manhattan and New York-area airports."