Joby Aviation announces acquisition of Blade Air Mobility

Joby is buying the Blade brand and the company's passenger business, which includes operations in the United States and Europe, for as much as $125 million.

Joby Aviation acquires Blade Air Mobility's ride-share business

Joby Aviation has agreed to purchase Blade Air Mobility’s helicopter ride-share business for up to $125 million. This acquisition provides Joby with immediate access to Blade's brand and its passenger operations, which span both the United States and Europe. Blade's CEO, Rob Wiesenthal, will continue to lead this newly acquired subsidiary. Notably, Blade’s medical division will not be included in this deal, remaining an independent entity.

The acquisition gives Joby access to a network of 12 terminals in high-demand markets including New York City, enhancing its presence in regions that are advantageous for air taxi solutions. Blade has a unique business model that utilizes a digital platform to facilitate helicopter ride bookings without owning aircraft. This service has attracted a wealthy clientele seeking quicker routes into Manhattan and holiday destinations like The Hamptons. In 2024, Blade serviced over 50,000 passengers.

CEO JoeBen Bevirt views this acquisition as essential for Joby’s commercial launch in Dubai and future expansions. Joby plans to integrate its air taxi software into Blade's operations and, in the future, switch the service to a fleet of electric air taxis rather than helicopters. Joby went public in 2021 through a merger with a SPAC and has been working towards developing a commercially viable eVTOL aircraft since then. As part of the agreement, Joby will retain $35 million of the purchase price pending Blade meeting performance goals and key personnel retention.

The acquisition of Blade Air Mobility's ride-share business marks a significant milestone for Joby Aviation, positioning it to capitalize on the growing demand for air mobility solutions. This strategic move expands Joby's operational footprint in high-density urban markets, which are increasingly important as cities look to ease traffic congestion. Joby's transition from traditional aircraft to advanced eVTOL technology not only aligns with global calls for sustainable transportation but also reflects the shift in consumer preferences for faster and more efficient travel options. As they integrate Blade's services, the challenge will lie in maintaining quality and safety while scaling operations. The retention of key employees will also be crucial for a smooth transition and continued innovation in this competitive marketplace.

Highlights

Joby Aviation's bold move signals a transformative era for urban air mobility.