News Summary

Joby Aviation, an electric air taxi developer, has announced its acquisition of Blade Air Mobility’s helicopter ride-share business for up to $125 million. The deal includes the Blade brand and its passenger operations across the United States and Europe, excluding Blade’s medical division for organ transportation. This strategic acquisition provides Joby with immediate access to a network of 12 terminals in key markets like New York City, which includes lounges and terminal bases at major airports and locations such as Manhattan and Wall Street. Blade founder and CEO Rob Wiesenthal will continue to lead the business under Joby’s ownership. Founded in 2009, Joby has been working on developing electric vertical take-off and landing (eVTOL) aircraft for commercial taxi services and plans to integrate its software into Blade’s current passenger service, eventually replacing helicopters with electric air taxis. This acquisition supports Joby’s global expansion plans, starting with Dubai and beyond. Joby, backed by Toyota and having gone public in 2021, is holding back $35 million of the purchase price contingent on Blade meeting specific performance milestones.