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Blade Air Mobility, Inc. (NASDAQ: BLDE) and Eve Urban Air Mobility Solutions, Inc., a subsidiary of Embraer S.A. (“Embraer,” NYSE: ERJ), announced an arrangement for Eve to provide Blade up to 60,000 hours of flight time per year on its eVTOLs beginning in 2026 for use in Southern Florida and West Coast markets.
What a difference a year and a couple of months make. Fitch Ratings has upgraded OneSky Flight’s Issuer Default Rating (IDR) to ‘B’ from ‘B-. Fitch also upgraded the company’s senior secured term loan to ‘BB-‘/’RR2’ from ‘B’/’RR3’. The Rating Outlook is Stable. OneSky is a unit of Directional Aviation. Its private aviation brands include Flexjet, Sentient Jet, FXAIR, PrivateFly, and Halo. In April 2020, Fitch had downgraded OneFlight citing, “the effects of a global drop in demand related to the coronavirus pandemic.”
Jet Linx Aviation becomes the third of the country’s five largest for-hire private aircraft operators to announce this year it is entering the VTOL – vertical take-off and landing – space.
Blade Urban Air Mobility follows SurfAir and Kenn Ricci, the principal of Flexjet, Sentient, FXAIR, PrivateFly owner Directional Aviation, into the public markets. Like the West Coast flight-sharing service and Ricci’s Zanite Acquisition Corporation, the vehicle is a special purpose acquisition company known as a SPAC.