RedBird increases ownership position in Blade to over 5%

Blade Air Mobility and RedBird Capital Partners announced that RedBird has increased its ownership in Blade to more than 5% and that RedBird partner Andrew Lauck will become a board observer. "RedBird’s founder, Gerry Cardinale, has been invested in Blade since 2016, and collectively the RedBird and Blade teams have closely collaborated as each has built out its respective aviation business. Blade’s core operations in last mile air mobility, jet charter, and organ transplant flights overlap with RedBird’s existing aviation portfolio, and both companies expect to be leading supporters of aviation’s eventual transition towards Electric Vertical Aircraft technology. RedBird and Blade will also leverage tactical alliances across RedBird’s portfolio to accelerate Blade’s growth objectives across all of its business lines. RedBird’s global sports and media properties provide a natural complement to Blade’s urban air mobility solutions for fans attending large sports and entertainment events at congested locations," the company stated. "Gerry has developed some of the most exciting platforms in aviation, sports and entertainment and the strengthening of our partnership with RedBird will allow us to supercharge our offerings to Blade fliers in the U.S and Europe. The partnership will also allow us to build our fast-growing organ transplant flight business and source acquisitions that can benefit from our global brand, infrastructure and tech platform – ultimately accelerating our timeline to achieving profitability while enhancing our growth trajectory," said Rob Wiesenthal, Blade’s CEO.