Helicopter SPAC deserves another whirl

Strata Critical Medical

13/12/2024 14:36

(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own.)
    By Jeffrey Goldfarb
       NEW YORK, Dec 13 (Reuters Breakingviews) - Blank-check
hype helped elevate Blade’s $825 mln valuation until the
euphoria landed with a thud. Since then, the company has found
more success transporting organs than Manhattan or Monaco
jet-setters. The promise of quieter electric aircraft is another
reason to go for a ride.
       
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    CONTEXT NEWS
    Blade Air Mobility said on Nov. 12 that its revenue
increased about 5% to $75 million in the third quarter from a
year earlier and that its passenger business achieved positive
adjusted EBITDA on a trailing 12-month basis ahead of earlier
guidance to do so by the end of 2025.
    The company, which transports passengers and human organs
for transplant by helicopter, expects to generate $240 million
to $250 million of revenue in 2024, as well as a double-digit
rate of revenue growth in its medical division in 2025.

 (Editing by Jonathan Guilford and Pranav Kiran)
 ((For previous columns by the author, Reuters customers can
click on  GOLDFARB/ 
jeffrey.goldfarb@thomsonreuters.com))