Joby to Acquire Blade’s Air Passenger Business for up to $125 Million
Blade’s Medical business will remain a separate public company and partner with Joby on medical transportation.
(Santa Cruz, California & New York, NY) Electric vertical takeoff and landing (eVTOL) developer Joby Aviation Inc. (NYSE: JOBY) announced today that it has entered into a definitive agreement with Blade Air Mobility, Inc. (NASDAQ: BLDE) to purchase Blade’s urban air mobility passenger business for up to $125 million; Blade’s Medical division – which was not included in the transaction and will remain a separate public company – will partner with Joby on medical transportation.
Photo courtesy of Joby Aviation.
Blade passenger operations are expected to continue as normal, with the business continuing to be led by Blade founder and CEO Rob Wiesenthal as a wholly-owned subsidiary of Joby, according to today’s press release from Joby.
Joby’s press release notes that the acquisition delivers dedicated terminal and air lounge infrastructure in key urban markets in the U.S. and Europe.
Per Joby, the acquisition will allow Joby to combine its best-in-class technology with Blade’s decade of experience delivering premium customer transportation at scale, as Joby looks ahead to carrying its first passengers in Dubai next year.
Blade flew more than 50,000 passengers in 2024 from a network of 12 urban terminals worldwide, including a lounge and terminal bases at John F. Kennedy International Airport and Newark Liberty Airport, as well as the West Side of Manhattan, the East Side of Manhattan and Wall Street.
Photo courtesy of Blade Urban Air Mobility.
“This is a strategically important acquisition that will support the successful launch of Joby’s commercial operations in Dubai, our subsequent global rollout and our continued leadership in the sector,” said JoeBen Bevirt, founder and CEO, Joby Aviation. “Over the last decade, Rob and the team at Blade have built a world-class passenger experience that demonstrates the value of vertical lift. With access to the infrastructure they have secured and the loyal customer base they have developed, we will be in the best possible position to launch our quiet, electric aircraft as soon as certification is secured.”
“Blade was founded with the mission of democratising short-distance air travel by facilitating the transition from conventional rotorcraft to quiet, emissions-free electric aircraft, and I believe there is no better partner than Joby to make that mission a reality,” Wiesenthal said. “It’s crystal clear from their progress on certification to the successful demonstration flights in New York and Dubai that this is the best possible home for our fliers, our team and our partners.”
