I came across this problem whilst importing a large amount of data that contained two blank rows for every row that contained data.
First select your data that contains the blank rows
Then click on the Home tab and select Find & Select. Now select Go To Special
In the Go To Special dialogue box select Blanks and OK
This should highlight the blank rows within your selected range
Click on the Home tab again. Select Delete and Delete Sheet Rows
This removes the blank rows and maintains any formulas