Blade set to go public in SPAC

Fly Blade spac

The deal values Blade at an estimated pro forma equity value of $825 million

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.

A look back at who received CARES Act Payroll Support Payments

CARES Act private aviation recipients

The Payroll Support Program under Division A, Title IV, Subtitle B of the CARES Act provided payroll support to passenger air carriers, cargo air carriers, and certain contractors for the continuation of payment of employee wages, salaries, and benefits. Here’s who got how much

It’s uncertain when there will be more government for the airline industry, and if so, will it extend to the private aviation side?

While the CARES Act payments have been widely credited for helping business jet operators get back on their feet quickly, they also have detractors, including NetJets, the largest private jets operator.

Let’s make a deal. The private jet M&A market is hot, but not without risks

Private aviation M&A

Vista Global’s deal yesterday with Red Wing that brings it 15 light jets to XOJET is the latest and doesn’t look to be the last

In just over 3 years, we’ve tracked over 50 deals, fundraises, launches, and bankruptcies

(Updated Jan. 11, 2021) The COVID-19 crisis may be bringing the already simmering mergers and acquisitions market for private jet operators and brokers back to a boil.

Surf Air raises $200 million; hires former Virgin America CEO

Surf Air raises $200 million

Surf Air Mobility says it has received a commitment for $200 million in advance of plans to go public

Surf Air Mobility, the product of a recent merger between Surf Air and Blackbird, will announce next week it has secured a $200 million investment commitment from Global Emerging Markets Group (GEM). The company bills itself as “a $3.4 billion alternative investment group that manages a diverse set of investment vehicles focused on emerging markets across the world.”

Surf Air buys online private aviation marketplace BlackBird Air; Creates Surf Air Mobility Corporation

Surf Air raises $200 million

The new entity wants to ‘transform’ the 50-to-400-mile mobility market

50% of all flights are under 500 miles, it says

BlackBird was recently under FAA scrutiny

Surf Air has been trying to fly past liquidation of its European arm, a lawsuit with a former operator and IRS tax lien

Plans call for phasing out the BlackBird Air name

Los Angeles-based Surf Air said it has acquired BlackBird Air, an online aviation marketplace that has been under scrutiny from the Federal Aviation Authority.

ZED Aerospace is planning to launch AURA, a luxury by the seat airline in 2019

AURA, if it takes off, will be the latest semiprivate airline, selling seats on a scheduled private jet like aircraft and avoiding commercial airport terminals at fares competitive to commercial airlines

 

ZED Aerospace, a start-up started in March 2016, according to the founder’s LinkedIn profile, will launch AURA, what it is calling America’s first Five Star flight experience, in 2019. The by the seat membership flights will link Miami, Ft. Lauderdale, New York City, Chicago, Los Angeles, Atlanta and Denver with scheduled flights using Bombardier CRJ700 aircraft reconfigured for just 29 passengers. The aircraft will be operated by Presidential Aviation a leading Part 135 charter operator and management company. AURA joins a growing list of companies attempting to prove there is a market for scheduled alternatives to the commercial airlines that use smaller aircraft and avoid the congestion of large airport terminals.

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