Joby Aviation announced on Monday it will acquire Blade Air Mobility’s passenger business for up to $125 million, in a deal designed to accelerate the commercial deployment of its electric air taxis.
The acquisition includes all of Blade’s US and European passenger operations, including a network of 12 urban terminals and a customer base of over 50,000 passengers.
Joby’s stock was trading higher by more than 5.3% in pre-market trading on Monday.
The move is a strategic push by Joby to integrate Blade’s established helicopter routes and infrastructure with its electric vertical takeoff and landing (eVTOL) aircraft, which are currently undergoing Federal Aviation Administration (FAA) certification.
The deal excludes Blade’s medical organ transport business, which will continue as a separate publicly traded company under the new name Strata Critical Medical.
However, Joby will become the preferred VTOL partner for Strata in areas where it operates.
Joby CEO JoeBen Bevirt described the acquisition as a “launchpad” for commercial rollout.
“We think that clean, quiet aircraft are going to unlock large numbers of new takeoff and landing locations,” Bevirt told Reuters.
He confirmed that the company is on track to begin FAA Type Inspection flight testing in early 2026, a major milestone toward launching commercial service.
Blade operations to continue under Joby ownership
Blade’s passenger services, which span key locations including JFK Airport, Newark Liberty Airport, and several Manhattan heliports, will continue to operate as normal.
Blade CEO Rob Wiesenthal will remain in charge of the business, which will function as a wholly owned subsidiary of Joby.
Wiesenthal noted that the deal is effectively “more of an asset swap” for customers, combining Blade’s terminals and brand with Joby’s electric aircraft.
“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.
There will be a transition period during which both helicopter and Joby aircraft will be used.
Over time, the company plans to fully shift to Joby’s eVTOLs.
Strategic synergy expected to lower costs and accelerate growth
Under the terms of the agreement, Joby will pay Blade up to $125 million in stock or cash, at its discretion.
The sum includes $35 million tied to performance milestones and retention of key Blade employees.
The deal is expected to close in the coming weeks, pending customary approvals.
Joby believes the acquisition will reduce infrastructure investment and customer acquisition costs by leveraging Blade’s existing operations and brand loyalty.
The company’s proprietary ElevateOS software, developed for high-frequency air taxi operations, will be integrated into Blade’s systems to improve cost efficiency and the passenger experience.
Bevirt also emphasized the importance of the deal for international expansion, particularly in the Middle East.
“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,” he said.
Medical partnership to showcase future utility of eVTOLs
While Blade’s organ transport business is not included in the transaction, the companies will collaborate in the medical transport space.
Joby’s aircraft will support mission-critical operations under a preferred partnership arrangement with Strata Critical Medical.
This partnership is expected to demonstrate broader use cases for Joby’s eVTOLs beyond passenger travel.
Wiesenthal added, “Blade was founded with the mission of democratizing 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.”
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