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Blade Urban Air Mobility and Ross Aviation have formed a strategic alliance to accelerate urban air mobility services. Experience Investment Corp. (NASDAQ: EXPC) is set to merge with Blade, creating a public platform for urban air mobility in the U.S. A pilot program will launch daily helicopter flights from Westchester County Airport to Manhattan, significantly reducing commute times from 1-2 hours to just 10-15 minutes, with initial pricing at $175 and potential passes at $95. They also plan to develop a vertiport at the airport by 2025, accommodating Electric Vertical Aircraft.
Blade Urban Air Mobility announced its plan to go public through a merger with Experience Investment Corp. (NASDAQ: EXPC) to enhance its growth in the urban air mobility market. Blade is currently the largest operator of helicopter flights in U.S. city centers. The urban air mobility market is projected to reach $125 billion by 2025, growing to $650 billion in the following decade. The merger is valued at an estimated $825 million, with Blade's shareholders expected to hold 43.2% of the combined company's common stock after the deal closes.