Blade Air Mobility Says Company Could Add 'Single-Digit' Aircraft To Its Fleet During Q2 Earnings Call

Blade Air Mobility Inc. (NASDAQ:BLDE) says that the company could add new aircraft to its fleet at the second-quarter earnings call with investors.

Blade May Add Newer Aircraft To The Fleet

"Our owned aircraft fleet is unchanged at 10 aircraft, and we remain focused on optimizing the financial and operational performance of the fleet," Rob Wiesenthal, Blade's founder and CEO, said during Tuesday's earnings call.

However, Wiesenthal added that the company had a strategic and financial advantage with its aircraft fleet being owned by the company. "It's possible that we'll add a low single-digit number of aircraft to the fleet over the next year or two," he said. Wiesenthal stressed that the company wasn't currently in the process of buying newer aircraft for its fleet.

Blade Earnings Miss Estimates, Sells Passenger Division To Joby

The news comes as Blade's Q2 earnings call painted a mixed picture for the company. Blade reported a revenue of $70.8 million, beating estimates of $64.08 million.

However, the company also missed EPS estimates as it reported a loss of 5 cents per share, marginally higher than the 4 cents per share analysts predicted. The company also announced the sale of its passenger division to Joby Aviation Inc. (NASDAQ:JOBY) for $125 million.

Cathie Wood's ARK Invest Dumps Blade Stock

Veteran investor Cathie Wood's ARK Invest dumped over 158,152 shares in the company through ARKQ following the Q2 earnings call, as well as selling over 101,467 shares through the ARKX.

Elsewhere, Joby stock reported a surge in value after announcing the acquisition of Blade's passenger division. "Blade has spent 10 years building a whole bunch of best-in-class infrastructure, really working to hone the customer experience. We see that as a launchpad for helping us to accelerate the scale-out of our passenger service," Joby CEO JoeBen Bevirt said.

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