Electric air taxi company Joby to acquire Blade Air’s passenger business

Joby Aviation will acquire helicopter ride-share company Blade Air Mobility's passenger business for up to $125 million, Joby said Monday, as it works to speed the deployment of electric air taxis for commercial passenger services.

Blade's medical organ transplant division is not part of the deal and will remain a separate public company rebranded as Strata Critical Medical, but will partner with Joby on medical transportation.

Joby is working to win Federal Aviation Administration certification of its electric vertical takeoff and landing aircraft or eVTOLs.

Joby CEO JoeBen Bevirt said the company is on track to begin FAA Type Inspection flight testing early next year, a key step before it can begin commercial service.

Bevirt told Reuters the deal gives Joby existing customers, takeoff and landing locations and a decade of operating experience, which is a "launchpad, a catalyst to really grow the experience" that Blade has built. "We think that clean, quiet aircraft are going to unlock large numbers of new takeoff and landing locations," Bevirt said.

Blade flew more than 50,000 passengers in 2024 from 12 urban terminals including JFK Airport in New York and Newark Liberty Airport and several Manhattan locations. Blade passenger operations will continue and be led by Blade CEO Rob Wiesenthal as a wholly-owned subsidiary of Joby.

"We fly more people by helicopter - vertical transportation - than any other company in the world. So with the combination of the infrastructure, the flyers, the routes, a globally recognized brand, it really is to the customer... more of an asset swap," Wiesenthal said in an interview.

Wiesenthal added there will be a transition phase where the combined company will operate helicopters and Joby aircraft. At some point over time, it will transition to operating only Joby electric air taxis.

The acquisition includes all of Blade’s passenger business, including U.S. and European operations. Under the agreement, Joby will pay Blade up to $125 million, including $35 million tied to certain performance milestones and retention of certain key employees.