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August 16 , 2021 BLADE Blade Air Mobility Reports Fiscal Third Quarter Ended June 30 , 2021 Financial Results and Provides Corporate Update • Revenues up 277 % in fiscal third quarter ended June 30 , 2021 versus prior year period • Revenues increased 73 % versus pre - covid quarter ended June 30 , 2019 • $ 333 million of cash and short - term investments to support enhanced acquisition strategy and new route expansion • Blade now has alliances with four separate Electric Vertical Aircraft ( “ EVA ” ) manufacturers : Eve ( a division of Embraer S.A ) , Beta Technologies , Wisk ( a joint venture between Boeing and Larry Page's Kitty Hawk ) and magnix NEW YORK -- ( BUSINESS WIRE ) -- Blade Air Mobility , Inc. ( Nasdaq : BLDE , “ Blade " or the " Company " ) , a technology - powered air mobility platform , today announced financial results for the fiscal third quarter ended June 30 , 2021 . " Blade's strong growth versus both 2020 and the pre - covid 2019 period shows the growing importance of affordable urban air mobility travel in the world's largest cities as well as the resilience of our multi - faceted , asset - light business model , " said Rob Wiesenthal , Blade's Chief Executive Officer . " We are well capitalized to execute on our organic growth plans as well as our acquisition roadmap , continuing our focus on building value for Blade's shareholders . " " A continued recovery of our short distance routes , with revenues now at 87 % of pre pandemic levels , coupled with strong growth in MediMobility and jet versus last year , drove great results this quarter , " said Will Heyburn , Blade's Chief Financial Officer . " While hybrid remote - office work patterns have benefited Blade's commuter business throughout the pandemic , we continue to closely monitor potential impacts to travel from the Delta variant . " " We are seeing great early signals from our re - launch of Blade Airport in June , offering 5 minute flights between Manhattan and New York City area airports for $ 195 , or $ 95 with the purchase of an annual pass , ” said Melissa Tomkiel , Blade's President . " After two months of operation , our current weekly volume is well ahead of the same point in our initial 2019 launch . " Third Fiscal Quarter Ended June 30 , 2021 Financial Highlights : Total revenues up 277 % to $ 13.0 million in third fiscal quarter 2021 ended June 30 , 2021 versus $ 3.4 million in the prior year 2020 period ; up 73 % versus pre - covid 2019 period revenues of $ 7.5 million ☐ Short Distance revenues up 810 % to $ 5.7 million versus $ 0.6 million in the prior year 2020 period , driven by the resumption of travel this year following pandemic lockdowns