Kerry Lynch stepped into the role of editor of the&nbsp;Aviation International News&nbsp;monthly magazine in May 2022 after serving with&nbsp;AIN&nbsp;for eight years. She joined&nbsp;AIN&nbsp;in December 2014 as a senior editor covering Washington and business aviation news. She has also served on Convention News teams, including as editor of&nbsp;HAI Convention News. Lynch previously spent 25 years with Aviation Week. During her time there, she reported for and later steered&nbsp;The Weekly of Business Aviation, oversaw business aviation content on the&nbsp;Aviation Week Intelligence Network, served on the&nbsp;Show News&nbsp;staff, and held roles as the Washington columnist for&nbsp;Business &amp; Commercial Aviation&nbsp;and&nbsp;Overhaul &amp; Maintenance&nbsp;monthly magazines. In 2021 she was honored with the National Business Aviation Association Platinum Wing Award for lifetime achievement in journalism and was the 2004 recipient of the National Air Transportation Association’s Aviation Journalism Excellence Award. She also has been a recipient of an Aerospace Media Award for business aviation (2022) and NBAA Gold Wing Award (2003, 2024). Lynch graduated from The Ohio State University with a bachelor of arts in journalism.

Editor, AIN monthly magazine

Urban air mobility provider Blade signed a definitive agreement to be acquired by special purpose acquisition company Experience Investment and publicly listed on Nasdaq. Anticipated to close in the first half of 2021, the transaction is expected to result in $400 million in gross proceeds that Blade said will enable it to expand its urban air mobility routes, build up its passenger infrastructure, and accelerate plans to transition from helicopters&nbsp;to electrical vertical takeoff and landing (eVTOL) aircraft.
Blade currently has four primary transportation models: short-distance commuter flights of between 60 and 100 miles; flights between all New York-area airports and dedicated lounges in Manhattan heliports (suspended during the pandemic); flights to transport human organs; and flights in international markets through joint ventures, including India.
The company said it was designed to be scalable and profitable using conventional helicopters today but then to&nbsp;transition to eVTOLs as soon as they are available.
The proceeds of the transition will enable Blade&nbsp;to fund growth into new markets, including in the Northeast corridor and the West Coast, as well as in Asia. It also plans to expand its infrastructure in these markets. This growth will help fuel its long-term eVTOL transition ambitions, Blade said.&nbsp;
Citing Morgan Stanley research, Blade estimates the urban air mobility market is expected to reach $125 billion by 2025 and grow to $650 billion over the next decade. It further claimed more people are now flying in and out of U.S. city centers through Blade than any other company.
“Ground mobility has been radically transformed by software and battery technology, as evidenced by the rapid adoption of electric vehicles. The next battle is in the air,” said Blade CEO Rob Wiesenthal. “This transaction provides the capital for Blade to profitably expand its urban air mobility business using conventional rotorcraft today while providing a seamless transition to eVTOL aircraft tomorrow.”
Plans call for Experience Investment, an affiliate of KSL Capital Partners, to merge Blade into a subsidiary that will be called Blade Urban Air Mobility. KSL’s portfolio companies include Ross Aviation.
Upon closing of the transaction, the combined operating company is expected to continue to be listed on Nasdaq&nbsp;and have an estimated $825 million pro forma equity value. Blade equity-holders are anticipated to hold about 43.2 percent of the issued and outstanding shares of common stock of the combined company. Available cash will be funded through Experience Investment’s approximately $275 million cash in trust and a $125 million fully committed common stock private investment in public equity&nbsp;at $10&nbsp;per share.&nbsp;The transaction is subject to regulatory approval and a registration statement with the Securities and Exchange Commission.
“Our deep investing expertise in aviation led us to evaluate dozens of potential opportunities, of which none proved as compelling an investment opportunity as Blade,” said Eric Affeldt, CEO and chairman of Experience Investment. “We believe Blade has successfully leveraged its first-mover advantage in urban air mobility with proprietary customer-to-cockpit technology, strategic and exclusive passenger terminal infrastructure as well as a loyal customer base to catalyze growth in the industry. They are well-positioned to fortify their business growth.”
He added that the affiliation of Ross Aviation, which operates 17 FBOs in North America, “may provide important partnership opportunities for Blade and Ross Aviation to accommodate eVTOL routes, maintenance and charging stations in key markets.”

Kerry Lynch

For now Blade uses helicopters for its charter operation, but the company says it wants to transition to eVTOL aircraft to expand plans for urban air mobility services. (Photo: Blade)

Blade Goes Public to Raise Funds to Build eVTOL Urban Air Mobility Fleet

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