Blade Air Mobility announces $20M share repurchase program

Blade Air Mobility announced its Board of Directors has authorized the repurchase of up to $20 million of outstanding Class A common stock. Given the Company’s expectation of profitability on an adjusted EBITDA basis for the full-year 2024, coupled with its debt-free balance sheet and significant cash balance, the share buyback program will allow the Company to opportunistically take advantage of stock price dislocations, when prudent. The volume and timing of any repurchases will be subject to general business and market conditions, acquisition and corporate investment opportunities, and Blade’s capital allocation strategy at the time.