BLDE - Earnings call transcript Q4 2021 | Blade Air Mobility, Inc.

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Operator

Good day, and welcome to the Blade Air Mobility Incorporated’s Fiscal Fourth Quarter 2021 Financial Results Call. All participants will be in listen-only mode. [Operator Instructions]. After today’s presentation, there will be an opportunity to ask questions. Please note that this event is being recorded. to conference like Cook, to now Relations. Investor would turn over the Tom I ahead. go Please

Tom Cook

fourth and operator, for to Mobility us and and you ladies everyone appreciate standing welcome conference joining fiscal webcast. Air We Blade Thanks the morning, by good and today. XXXX call quarter gentlemen. Thank

future that to statements Before August Harbor in made language. like of maybe are historical cause company's to including S-X our you filed remind period, XX, call of XX, this May are filings facts, XXXX not get statements. our we for I'd forward-looking to of the about Statements with this you started, statements Safe deemed conference factors and constitute within Reform for expressed Form on and made those provided this only may statements SEC subject forward-looking the June SEC We filed differences. the the XXXX, conference quarterly on forward-looking forward-looking these results Private our meaning Form from risks Securities that and Act XX, statements during call or call. the of implied XXXX, Litigation uncertainties to as the the XX-Q discussion statements refer These future risk including materially the and SEC ended the with of by Any actual of the XXXX. date a period differ more are detailed forward-looking could

by any SEC disclaims forward-looking update filings, intent our except revise As Blade statements, law. obligation in required or these stated or as to

Blade; most provided which These our in A measures website. measures be to not Rob? Chief also in are those financial and we we results call, financial should of Hosting our available substitute Founder Executive evaluating be reconciliation directly Rob will believe in financial Wiesenthal, and our is measures with now GAAP or as useful will on accordance I turn financial Financial Chief isolation to Rob. call considered Officer. today's our release prepared During comparable call non-GAAP performance. press for Officer measures will an over be which of Will the GAAP. non-GAAP Heyburn, can non-GAAP financial discuss today's the

Rob Wiesenthal

Good strategic overview of an you, short call a to like interest call to update quarter the have results, we and and over fiscal the welcome your our Blade in greater handing cover with in you everyone. to thank for Tom. you Thank I by financials who progress for September XXXX. Will, ending fiscal I'd start will today morning, earnings our on our fourth XXth, followed goals, our made detail. towards the before achieving will year

million We comparable ending $X.X XXXX are comparable September period quarter the million. happy versus in significantly XXX% the exceeded September this to XX% expectations. of the increased period, $XX.X year results report fiscal million to and increased and our Revenues XXXX quarter that $XX.X XX, XXXX XXXX versus very in pre-COVID

growth investments associated short-term strong XXXX. cash with the we September of sheet $XXX and for XXXX through at private. Blade being years our our of execution XX, with to XXXX, a when $XX.X and non-recurring in only strategy, free adjusted $X.X fiscal negative remained negative to our of balance full fiscal fiscal for cost fiscal XX% versus pre-COVID period fiscal remain ending million fiscal period. year up million full $XX.X adjusted XXXX. XXX% XX, was of million well-capitalized revenues negative We and with versus XXXX the paid Comparable given company continue to have the this and public to acquisition, prior on For were comparisons and the with exclude EBITDA vigilant costs both in certain XX, million ending $XX.X September structure EBITDA respect $XX.X million in $X.X in debt purpose of million versus million September parties the our year XXXX, recurring of increased the comparable shift organically year extremely XXXX pre-COVID third Regardless,

reflected annual quarter quarter approximately XXth Air have in the Medical levels on team’s Newark make continued service on execution acquisition great basis. results per XX,XXX end, fourth our September passenger of XXth. run overwhelmingly pre-COVID completed fliers our airport We've Trinity initiatives, September volumes our and strong since Our growth progress to at relaunching was between organic until on XXXX. this of fiscal not reached Overall, XX, service year November now Airport Manhattan an rate the airport

a both XXth test our agreement Vancouver with shareholders, through in that would element we Aviation Aircraft public, achieved services or Air future you, we've Upon with going current territories end Vertical on complete Electric Airport Newark by the that pleased to acquisitions XXXX, long-term to goal November XXXX. I at and Signature a committed strategic helicopter as scheduled dedicated we September and critical Helijet's EVA am XXth. our as two helicopter confirm a announced that business terminal we support service. for Additionally, to acquisitions of Trinity of both neighboring on well the

acquisition Our organs the of largest Blade air dedicated for transporter transplant in States. human makes Trinity United Air

simple, with them organs now costs, pricing, organizations Blade for We already and our us importantly, lower available to number flexibility the of partners fast transplant. to organs can availability mission personalized and and are Most strong centers enable the the better transplant such for service maintaining that offer hospital MediMobility transplant. we benefits The accept that brought MediMobility combination more availability while of procurement success. to with consistent aircraft the is increase and Blade organ in our added operational Trinity scale Air are existing this has offer business, seeing MediMobility enabling

together that just We are every day. and are saving doing we lives

in momentum December the fantastic Our through MediMobility has current quarter-to-date. continued

frequency number case to business for high first as of look the transfers, major and organ scale continuing for hospitals to commercial of EVA. last-mile strategic we us We be well use organ-only have is will up drones, in as recent transportation. in our signed given which a forward build weeks This incredibly believe

asset-light North mobility Our maintain calendar to XXX,XXX business mobility Nanaimo gain decades with also Vancouver will aircraft. acquire America. urban Consistent a to the ability in will up all and with Blade to an following unique a in Helijet’s flying exclusive of Vancouver, the stake today important acquisition approximately at passengers of in safe to and XX% pre-COVID offer Victoria option in operation. Blade passenger this air scale heliport strategy, operate our continue access has into grows Helijet own, three Helijet infrastructure. urban proven strategic company terminals largest in XXXX period to services air

ideal appropriate of transition which put, and today early while of between aircraft plan Helijet for of flights and operates, to expected and a to will helicopters path socioeconomic many public it this affordable today the make for to starting are capabilities emission-free designs, acceptance a air expected Helijet’s ability viable their $XXX. of making market's EVA. In a on we enhances today with mobility vital air Vancouver's minutes only across brackets fit to are that the the capabilities for method Additionally, as helicopter travel at focus the mobility EVA. mobility is common fares we XX flights transportation that and infrastructure XX use markets so of part de-risk our available. short routes Simply urban regulatory quiet EVA Helijet the once are economically EVA in transition operationally to perfect

testing us. a Before the to our the ongoing employees health longer to flying have an Medical Will, paramount I be to by with are they we first for With pre-boarding Throughout past first is the flights. including our Blade, first to led starting bringing haul for This all the our leadership and We the turn in-flight provide to by first and COVID to critical call with of and CDC. to The the versus of blood are Advisor year. passengers want briefly to the Omicron a positioned flier on the COVID-XX ensure have success. fliers protocols masking, were that ground pandemic, I remain And in passengers over Xth competitors it aviation by address safe and our exemptions has oxygen air. example, We and vaccinated saturation led position variant. company on important recommended increased only to September as continues. environment and emerging our safety to requirement in the mandate our It's believe environment, announce to aviation this to last will health our volumes. lead we to scale were the differentiator the company testing, Chief the onsite continue

to operate. the continue to adapt mandated by and will able were alike. our also in customers employees to requirements to we areas changing quickly We governments risks We mitigate

impact we building discuss a air our Most operations urban unmatched offerings during today, over that, of once to a have company using are and monitoring aggregated results importantly, we expanding today ending to while financial closely Overall, our our use are certified turn But mobility Blade any and more customers XXst, for seen the market and seamless now have our for services sharpening in quarter, and serving in CFO, detail. other with infrastructure as scale to share, we conventional and experience With the to EVA customers negative December our world. the in our organ partners. I'd passenger to our service not added of launch to aircraft aircraft, these transport public quickly we these transition virus. Omicron EVA our business. Heyburn are it current strengthening We Will the for our and infrastructure greater ecosystem, by brand has preparation customer like than believe material

Will Heyburn

you, Thank Rob.

results we performance our progress with with strategic Let the on me how December for in quarter-to-date. priorities, and made the the pleased with our our September we've are financial reiterate quarter,

comparable XXX% Blade’s As the Rob team’s period versus the our growth strong on XXXX is execution the growth plan. a mentioned to earlier, XXXX testament quarter organic revenue September in primarily

most Our quarter comparable $XX.X $X.X driver Short the significant business the September was of dollar in basis, on revenue million a XXXX XXX% to period. Distance in million versus XXXX up growth

by no improving impressive benefit was proven commuter business impact outpacing policies, levels, completed not by in Future until driving of centric offset from period XX% Our travel recovery but industry XXth. demand, a on results total trips, results, pre-COVID demand Distance the this to to there office given Distance, Helijet decreased significantly continued which is revenues weekend remote XXXX an be Short hybrid for of was overall acquisition will strong quarter’s included November comparable that Short recovery. the

and charter existing and volume trip in Turning customers, driven of Blade’s MediMobility as million hospital XX% new addition by within quarter the Transport comparable the Organ to Jet. $X.X versus to growth jet in as this $X.X million increased XXXX well Revenues period accounts.

our we that remaining closed of Trinity then, just revenues business COO sourcing, acquisition period. Our in have two made process success led with the the early combined in drive combined availability and development quickly with Bacon only better September aircraft moved Scott weeks with Seth CEO given have The to Since the team Trinity integration wins generating Air scale we great and Wunsch of allowing to United million new contributed pricing. also States. We've consolidate by strides aircraft $X.X functions, our our quarter, Air. in our across hospital

integration, rapid the our in Air out going we will Trinity Given reporting our not separately break forward. in progress

the increased by revenue revenues. mile this last increase comparable an million $X.X in and from million transportation other slightly primarily first XXXX driven quarter period in ground $X.X Finally, to

versus flight revenue, the higher Margin. a which to XXXX and Organ saw versus require towards to in our shift in Revenue flight Flight this quarter made in refer in or our margins of Flight landing includes our mix Jet primarily revenue tend Short period. as Short this period. increases to risk margins, quarter of the Distance Distance by was tend fees. improvement driven to a have have XX% which Mature improvement MediMobility comparable than overall revenues total our paid XX% the costs, Turning of operators what we less utilization cost to do comparable XXXX Margin not This Transport XX% up and cost we flying portfolio to generally to profitability. XX% routes lower ramp in which businesses, have but

will Given Margin cushion, enhanced that higher margin this us approximately Distance our the XX that were each this revenues Margin shift. majority route economic from that This from in provides Short Flight mature given expected quarter mix Flight of expectation realized require to ramp than a to enabling to expansion routes, benefit an months invest route our profitability. new we typically

The to $X.X recurring Let's million compensation to now by which $X.X auditors million for the public non-cash one-time million, costs, increase these our expenses. as Absent general approximately premiums in XXXX a turn status XXXX of was primarily expansion have as and transaction administrative from through expenses growth of costs million public the to in company both to $X.X reflecting million XXXX directors non-cash company our September on insurance. $X.X comparable September period, G&A enhancement $XX G&A organically in new million expense growth of expense consultants well stock-based quarter related of represents of to in comparable million, would and primarily million one-time paid $X.X and versus as officers in our and increased execute increased period. $X.X $X recurring and our million million a third-party and plan, team the we XXXX $XX.X acquisitions. the quarter measured driven related $X.X as our

$X.X of new $X.X $X.X million quarter, to driven status increased by related Blade’s recurring decrease increase to paid increased million reflects million non-cash or This fees marketing insurance the $X.X and million Distance in XXXX compensation million and new for marketing to $X.X businesses by of company, public compensation to negative and was million. the Adjusted marketing $X.X expenses selling to in September of expenses consultants the period. increased activities. associated million $X of quarter XXXX consisting and stock-based an $X.X negative Short as primarily Selling marketing expenses D&O million the million expenses a development September million software period, EBITDA a from non-cash September comparable and and driven stock-based to primarily Compared $X.X primarily and in and employees. in attributable existing auditors comparable million in $X.X in $X.X XXXX XXXX to increased in which pre-COVID third-party the XXXX other their negative increased of the compensation incremental comparable period, quarter, million XX%, recovery and XXXX decreased Our activities. our $X.X

versus Excluding above, million the of company period, in expenses XXXX decreased but comparable $X.X as $X.X XXXX in improved in adjusted negative $X.X increased million negative the recurring revenues driven from of cost of million new sales pre-COVID public revenues. negative comparable quarter and comparable by EBITDA a the percentage period, the lower

September for XXXX of capital acquisitions full XXXX and in business quarter name. asset-light with limited requires fiscal Our model domain and expenditures, $X.X million only excluding purchase our million $X.X the the year, the

our levels. visibility Next, In end, I of achieving results. in annualized have ramp rate matching both fliers continued into XX, financial some acquisitions would like well ending on as current since to December our progress seen in Blade run Short as an quarter provide of quarter the XXXX recent XX,XXX the Airport, impact Distance, September recent approximately pre-COVID future of weeks, we

three Newark both service Manhattan and different that We’re especially one given we've and we're between and result, recently, and November pleased very only currently JSK LaGuardia this one route we launched Manhattan Newark. between with Manhattan each route offering with service offered between Pre-COVID, And JFK. XX. on heliports

value travel to or by With that to performance has proposition new capacity XXXX meaningful. competitive between friction coming business, plans, while the our elimination quarter-to-date. cities prior in during plan driven strong current short one the the with growth a additional adding Blade contributed Short revenue December this distance current launch expansion business for to months, the routes we already prices the we year Distance the routes alternatives more targeting strong respect airport are versus Blade are and continue is Airport of Given of in and to in

margins fiscal slower Distance above per $XX with is reopening pre-COVID on recovery. continues year pandemic, or Blade the Helijet the annual contributing equal charter of begun average. at of contributing MediMobility expect add At of Jet, and that XX. to do of not Helijet in Organ quarter, Trinity $X November to lagged start in revenues expected, U.S. Air Since revenues to Transport contributing its Canada We to SG&A and million the XXXX. nearly XX% operate approximately already has material Short the As to policies million

I acquisitions, of serve impacts line has the forward. approximately pandemic. seen add smooth non-seasonal on per These to out during this both million Air consistent $X we routes our also not Trinity and do expect point expect negative business year demand SG&A We seasonality out is that with quarter. should along focus But to round with will new our September quarter largest. going to our the remain material

year our XXst with coincide the discussions preliminary have December with to fiscal to to change calendar continue We to year. end Board

more we with in support both We acquisition. XXXX. our a formal organic million expansion strategy, early cash $XXX and a sheet change expect through balance have them in growth closing, than to debt-free strong In to consider

built mobility I'll by flying We profitable and conventional passengers urban largest continue quiet ecosystem, electric critical cargo to back America’s it every that, emission-free unit and have with turn right ready to for over enhance North now, Rob. at and With future economics. air the day aircraft

Rob Wiesenthal

fiscal am Will. the all year. Thanks, with accomplished pleased that past we've I over

our in stack, urban ahead the partners’ XXXX, using manufacturers, our air our include growing we recognized customer our Blade’s the urban building our accretive pipeline urban have and extremely for the ecosystem continue Key our and we EVA generation to on terminals operations become public team, serve and network focus Looking through our world-leading will with services it of preparation additional companies the acquiring Canada, and organically mobility and Blade’s and Unlike world, the to to in strong seamless, of will around that next and business are India, will the XX/X on-the-ground continue in strengths acquisition strategic our air the exclusive and of build base profitable financially we to effective mobility in partnerships available. elements grow air safe strong the customer-to-cockpit for at aircraft competitive manner These deployment a only difficult continue and brand. in loyal cost elements most on in already to leading highly ecosystem U.S., our aircraft important today flier mobility a necessary to conventional as all experience of many routes, technology replicate. world. markets aerospace geographies landscape,

reported results capital Blade. visibility Before million to quarter, close, in briefly volatility debt-free the for approximately our cash December quarter companies like with strong environment. financial very to financial for current the we be continues encouraging growth We current There September discuss the market on with I'd emerging markets for of balance sheet. the like $XXX

leverage management reflect expand our in current we As for the opportunity have us. truly leadership simply urban does Blade’s share team believe incredible that not ahead market growth prospects and an and Board mobility, company. our price current air long-term the we of

continue we As exceeding our credibility growth we strategy, on execute narrow. this post and community, build expect gap the strong to financial with results, investment to further expectations,

However, very provides if when sheet the appropriate. with power needed toolbox us our strength utilize balance of to

Finally, contributions for their best-in-class work as to our part-time I for provide consistently and our service thank they full-time customers. all and of want employees each XXX of tireless

success would Our not for questions. turn you. Tom I'll it be possible that, to without With over

Tom Cook

Thanks, Rob.

inquiries we we're and take reminder, directly. Operator, investors call questions. Reporters should send on will this analysts to a As today. for ready now from me questions

Operator

Instructions]. [Operator

comes from Bank. question first ahead. from Hillary Please go Cacanando Our Deutsche

Hillary Cacanando

Omicron of timing far, haven't the taking emergence seen expansion but any know of impact Hi, from questions. your the Robert in I impacts could the plans Northeast thanks potentially the so you and my variant Will, Corridor. for

just you. expansion if restart from comment going, your great. could Thank could you to that'd time, are on the initial plans discuss If plans how through be you And tracking LaGuardia? also service your that

Rob Wiesenthal

Sure. for your question. Thanks

with are to put, Simply a Xth, are mandatory they be that enforced requirements, sentence. fliers to not September as as the only only vaccination on Given were the began be passengers not first which vaccinated, our company all do boosted we aviation our view Omicron death well.

their and smart they're are the They're being they continuing it. on However, lives. with very following science about

been are They're with have our MediMobility extremely being right continuing around, we continuing very, vigilant on our started beginning been first respect see they not the mandatory but do health processes, to to let know then what saturation Officer They're virus, the very our previously travels. as on. oxygen, through move is of we to institute an through company and So at through the vacation mandatory they something vaccination to very, which plans, planned appreciate impact. and now division do masks, Will their With literally that expansion first blood requirements. level, to mandatory our December you moving I'll take having Medical Chief the it and

something is start Remember added -- JFK one let heliport obviously recently something that Corridor very potential to on have to on the to and go we're LaGuardia now to there in first. you're airports. flying pre-pandemic, get I'll potentially Newark and But met closely. flight the watching airports. to without New get X With there and flying We there, behind to lot than to, LaGuardia, three curbside to a respect construction back construction we're with to November We that. Newark, service, answer airport proposition take all We were plans, let that's is with the Northeast tarmac City minute departing then is longer actually did question. we Airport. from three on value to having JFK in then that Will the focused the the With respect of it's some from right back Manhattan. your York Obviously respect goal

Will Heyburn

as week the We coal flier of of we've thanks ahead were pre-COVID. our Airport you see look Hillary, last weeks, around sort look bit which at will, a mark, we in are canary XX,XXX of were little if that. at averaged And that matches we the what question. we look Friday, the ending for But I doing even things as if to how last Blade to mine, going. kind the four

going most So, see one there in is be it. business, airport to haven't would be we an the an impact which seen impact likely was really the if that we to that think would

I'm be for variant? open, business to without us Corridor growing watching office to more is our the XX%, but sort two was Maybe. see some lot of back it's talking travel. there data be of sure And we'd around road. thing level, that that we're the we business Northeast business to expansion, But they've the open saw the this XX% folks respect in want make tell. hard about data nicely our travelers trying asset With of recently, going given presence Amex model, on and connect. have a the cities we light that very where folks we're would to are for the We recovered small to sure flexibility the on encouraging Now, is timing.

Hillary Cacanando

I one more just question. have follow-up

So, I industries Omnicom we've out, weekend, with there were the over a lot shortage sick closing of industry. seen and aviation and canceling. labor flight shortages sick And issues issues Are or at Like restaurants the were other they your do in because across in in pilot any think become all up? at partner play you case sufficient labor partners your potential seeing pilots backup you labor any come all? network if staff have know

Rob Wiesenthal

stayed summer of to great on. As pickup then a there the in that now very moving are volume -- in new pilots services but say lot that of have we has because oilfield anything, business. usually big also, the obviously not business been a there that for because a been is leisure routes. and our pilots not are seen from Those there And -- pilots, of there is flow seems of declines what in only business, I'll there’s have

all. oilfield up have the ramping decline pilots, summer, of So the helicopter with at we for requirements the for services that combination not seen in coupled the

Operator

Our Jason next comes Oppenheimer. question from from Helfstein

Jason Helfstein

I'll Maybe ask few. a

you So about quarter. think the $XXX,XXX like Trinity I as in we're business, the thinking kind was of said,

How as think million out like you And $X business. some quarter I that I Helijet, million run think you're said of kind pace that one guys you you about acquisition given about Is holding still that about $X.X that -- a a think levels? your pace of talking should we announced we I of still kind number? about $XX of, And $XX when that million good with had pre-COVID. rate. a then about got business follow-up. I've we guess back do think guess, Should kind of Is back And think numbers given were I to up? airport that thinking maybe thinking to guess, that to then almost we million? be pre-COVID I I get the being already kind

Will Heyburn

Thanks will those. Jason. take question, I for the

the when Trinity we front, right million $X On for was the closed.

As we've had recent we said, great weeks. recent some in wins

which and seen So, I for for little is that their on that have business if and of this willingness that U.S. in going the towards driver looking, September. level, for in back get is starting that of to helps. that be to they contribution. terms what road what variant And as level get bit would weeks about a travel starting now reopening been remains then of close we're the it $XXX,XXX then on Helijet’s big million But quarter revenue sort at on the the Helijet they being has meetings, And future, to a question, behind to more business. Canada impact government I two think think which contributed the of did rather is to $X would a about than backward

hard So, that time expected did that expect some would predict we we to the the business XX% that. bit to still million. back we would this when it little on a ad be would what when normal I around still the underwrote rate. get it'll deal be of it's And run $XX that's

Jason Helfstein

follow-up then and a just question. -- then And a

you acquisitions? Just the focus that so you guess, I -- on additional year, extent M&A? flights And open Northeast either through the this expect that willing if Northeast this additional maybe business business through are or to have do the Corridor not more year, Corridor organically M&A to expansion to move -- commit will would forward you’ll we

Rob Wiesenthal

I'll take that. it’s Yes, Rob,

launch The I be could leisure, in we think are news business commuting variety launch routes, routes new given or ability that down very launched are can other it investigating. we Northeast elsewhere be tilted heavily do towards good are There our to require tilted There do of have more United any routes, quickly. other is, to the routes not travel. path comes very towards options. the are very reliant regulatory on when that We to of and valuable they can it and the a approvals that well are quickly. we that size so Corridor not States our

In that, yes, moving pipeline of addition very a we have visible forward. very, to acquisitions

was opening those all extent that bit would in that of we we it the potentially do off push get think, that travel, to just the kind together, and that to consider in gives prudent option. visibility So a we be if decided a I to business that large better really optionality Corridor route in Northeast have

Operator

The comes Itay please ahead. go from next Citi, Michaeli from question

Itay Michaeli

morning, Thanks. Great. Good everybody.

Just new the airport those ramped fliers who curious on, leisure percentage were trips, other the pre-COVID some up totally of as versus of to flown Blade airport may in what your curious of have you've first, the or platform routes? kind

Will Heyburn

looking the are of been XX% close if It's encouraging. people of weeks, really recent new. to at the some been it’s flying Look, I'm

tool so So the by we've for us, we really far. it's acquisition a and results fantastic encouraged customer been really

Rob Wiesenthal

to airport personal are some pickup coming big York, interesting, that that of which beyond expand also, the because is us towards New tilted for to that New gives new a then starting which are as outside our brand is City It very is returns. noticed the to very New of encouraging business. coming into the be And city, well it was And York operations. slightly whether also on of we've visits, that it's people York signals or from out City opposed locations clear for core too,

Itay Michaeli

kind think make December we I'm just go do the kind that out quarter? seasonality. gave on to of revenue and quarter, just clear through takes I And think question, how maybe this I may of to think sure to you was a sense to try going helpful. about Will some on and to puts very of come what back second That's where my get that, you could ex-Trinity you hoping

Will Heyburn

of in our help the give revenues. would largest years I Historically, on These seasonality. September far, quarter served to the XX% that have Well, acquisitions out. has you some really right? can But the by approach smooth some been guidance

pro-forma for see quarter be what would you largest still of quarter, their to call Trinity weakest XX% XX% to going split and going one. the continue an closer two, on but kind March it of be kind revenues. around say the forward other I So if that for you're and model helps Helijet, both the of to then will even And September your around with

Rob Wiesenthal

additional point mention. which we One -- didn’t we didn't point, which

that the COVID. by business of it's I and those to not Trinity impact you at forecast if at company and of important virus, this have very largest from insulated -- the trying looking the affected to in to kind is obviously MediMobility we're in understand our that meaningfully of of and largely is it's nice the all organs think are that the that buffer COVID transporter United States, the now human company

Will Heyburn

for XXXX talk versus quarter, XXXX both that Yes. significant we'll And this for at do we say release. question more that when just we'll quarter-to-date this But earnings point to have we're pleased growth quarter. and your about on is really with December all

Itay Michaeli

if missed to quick is and route so Awesome. far apologies -- relative but And how sneak just But of will it. know I early, kind I going how your I Newark expectations? one it's the one

Will Heyburn

it's growth going us, separately, pre-pandemic. great. including but every most been route contributor We're pleased. break we and not weeks. things to a has the equaling to nice recent before, than better We're going incredibly were been for what seeing that one in we're week It's I think doing And out the consistent

Rob Wiesenthal

I it over pre pre-COVID which is growing growing just of awareness time. increased it our did think we was point the than services the have the one -- that shows launch, is brand that and important data when faster

Operator

comes from question Credit from next ahead. Suisse. go Please Ju Stephen The

Stephen Ju

Okay. Thank you.

to standpoint operational we practical expand do a pertains investment real retain a about from equipment are you'll Rob will be Helijet? country? the should Canada, or in and So the perspective, from to Helijet in you that it there status, thinking any look XXXX And changes Will, Blade anticipate brand brand as XXXX the years you estate the or to for either

Rob Wiesenthal

That's a great question.

there A really actually It of a of time. transportation have tremendous that helicopters of respect indulgence. in the of a Helijet considered Vancouver. not are about the ferries or other an transportation life just you way government exciting what's us that is for amount saves not getting to employees. think of a I around, it passengers modes It's large is with percentage are unlike way and

goes strata. a that broad brand, service And want old be year launch. it very you So extent nice if they a skiing, to socioeconomic -- Mountain -- service we across XX cross-border brand like routes do for of we to that strong $XXX, we’re retain going have missions a the Whistler international really Vancouver, it's would look prices the at going a to it's we would would basic very which the leisure first that Seattle from or to

product, services. doing margin those enjoy But We for brand. but data a use technology, think of them with But a a by leverage the and what ramp, want could Helijet job however, they're Blade their to end doing. there fantastic some I benefits and core want for are our is potentially they've Blade the we that leaving keep enhanced the now our add-on we awareness to done higher as behind of will roots company. be them now,

Will Heyburn

a were to of kind what if that's related your think you after? to this on P&L to getting the year. question be SG&A don't impact, there's going significant Helijet We investment And

they're year about of the that will In terms usually think we just be doing. don't of given impact at this they're Flight Margin, that what either on XX% significant

But and as that. watching keep updating keep impact. right we'll of of now, kind not So a on folks significant

Operator

from [Operator Instructions] JP from Morgan. Bill question Our Peterson comes next

Bill Peterson

the get to How it up should But that and take curious acquisition and I I'm other take in expansions hear the growth the Didn't assume what's maybe year And you would potential expansion organic more it You there? two? consider one. more markets on be service? about in questions And would talked for Vancouver what right implement that's guess or India, see these taking you for much here. the long the nice the growth? coming to international would long to international how for would say to let's increasing broadly, past. Seattle, we through mentioned which happening about or services? be Thanks running around to

Rob Wiesenthal

With is Europe. team and new speaking. markets, I the to on Rob am focused respect now It’s very very focused

to that think work to there are is certain point-to-point that acquisition. just way time you a on like market. see do respect organically and something valuations. we go benefit With by would to it likely see out can't to take It we're we kind And But obviously, a commuters cross-border, It would continues real really it at it's there as to there versus would visibility Will? reduces give because to say it. our I see on deals front. more cost that extent fit that because want anything travelers, Vancouver, how that any work accretive to to something internationally. I we the likely quickest that Seattle, risk. begin could than has of the good exactly you Is those route. would a long and domestic you has -- routes We add friction and take find

Will Heyburn

has we the India the got elements urban an all makes on that. front. When air evaluate mobility Just work, market in what India

a $XXX them save can hours to equivalent folks that six flight U.S. minute You costs to XX XX three with dollars.

So, is lot customer issue COVID. fits The strong starts prop with there. been is incredibly the a of to there've and value regards

right anything other how huge broadly, a we'll urban there's [JV]. talk air see the government there, some which Indian business, specifically have huge so about but continue don't to you can now, opportunities And supportive some and expand that to investment been mobility particularly opportunity incremental recall, there. has consider And as given we a we'll ways we of announce is

lot we is get our great and upside a have structure we So downside limited. through of relatively a the where royalty

Rob Wiesenthal

a lot of to it's just minute turning into on friction a market, that, flights. drives add tremendous five-hour So obviously, XX

Specifically is is, But it how a that, government, the operate and as drones. said, see of offering of difficult system opportunity Mumbai in of or addition additionally And to building one heliports, India. that That a medical companies X% to U.S. -- being additionally, enjoying to from I be in of would friendliness And any to think structure, disjointed do of have because option in and helicopter example minority an stake we're the buy aviation MediMobility to is we the mentioned, we something are in for because huge Will financing companies do terms up. the and to kind Pune. They that royalties. very actually that's we the are

for deeper be we that it's want of a scale, now out, time, if we we it as company, we want can. as have So sufficient to that economically when But right supportive we option. may our to that consider relationship exposure feel the we at And with market. expanding a play

Bill Peterson

then how guys. understand Could to you other to the to it, you story? On for a us realized those jet and size the trends in opportunities, is if expansion at are I clear that looking presume I But good. or for wanted not guess help Thanks important and that's focus market or think Okay. to just color. you any that this Aspen Miami, your business. if about buy the I charter, business app, is growth around,

Rob Wiesenthal

is market really We the not charter view or critical as a don't I past our and the our passengers fliers key Yes. -- years. longstanding to it to over do jet story. couple to courtesy of

do courtesy. really as we a it So

think aircraft, a lack what pilot Blade, pricing I shortage. a companies would -- of charter, for seeing out their and this and we're own really is jet to high be not that aircraft, are owners up of that using the there, availability, applicable which shortage clearly normally

really for core -- not on our not passengers. a company's It business. our strategy. again, of to the our is do time We So, periphery time it it's

we And harmonize on of to helicopters get one we monitor jets. reasons big is it doing we because So, of it. the the -- some keep like also with we

commercial aviation both proposition, flights benefits a by land value a of show to private right helicopter the like we and having plane. So of

Will Heyburn

that on The helps say that Bill other does I MediMobility us that some give the it business. thing is would in scale

operators and to equipment, incentivize crossover So, that better XX/X you if price we us helps hospitals MediMobility crew give a operators for we to given more give business. that MediMobility, us show need the can sort hours on the those that for use of that it there's

about Blade there. cause the business, helpful think is Medical, it MediMobility, combining Blade’s and you So retail Trinity strategic Air when that's to

Operator

Oppenheimer. Helfstein The from from ahead. next question go follow-up Please is Jason a

Jason Helfstein

a pass like you help that want measure you of any holders, to people to the are new. kind us, metrics choosing percent other Just -- airport of you expectations be point to the or way made are that? Thanks. what bulk the Anything of relative either customers

Rob Wiesenthal

enable holders We're We our obviously early to -- paused pass we not again. to them disclosing that it anecdotally. use

been We maybe because business with are the saying, it's are people, pandemic think I future. year, I some near that what's them of now, the buying that -- some trips play I maybe me by let it possible on But passes. have because going people are but want in

it's passenger great to XX time sure in order fly breakeven I'm you've So assess product essentially got to about the not to this a flights. where

it. So sure -- but it's generally time but I'm people not continue buying passes, measure right to the

Will Heyburn

agree. I Yes,

for start at a passes options we little the airport, more, to look see I us the to everything. build as continue a think marketing time back route not great you'll but bit

Jason Helfstein

otherwise be you the go given, in Will that share? you that can already have flown number think to. seat flight has that we handy, then I if And XX-Q, the been

Will Heyburn

earnings We put run release it’s now around for there, in XX,XXX it the right only. press flier airport rate

Jason Helfstein

number, was quarter. that the looking I at X,XXX like was last

Will Heyburn

have file will the that in we there. a coming XX-K That'll days here. in Yes,

Operator

the remarks. more There question-and-answer any Rob in Wiesenthal back concludes closing like turn would conference session. to our I This the to queue. questions are no over for

Rob Wiesenthal

Thanks who any We with respect to want appreciate available as joined just We the and are as observing remain both that interest, and both for I morning. support, you Will this appreciate questions your you ending directly the we fiscal may has XXst. results I for quarter your have. quarter ICR into December the listening we to for to-date how are with call. reiterate everybody the performance well pleased what the to

Operator

presentation. Thank now has concluded. conference for attending The you today's

You may now disconnect.

Blade Air Mobility (BLDE) 20 Dec 212021 Q4 Earnings call transcript