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Joby, an electric air taxi company, acquires Blade Air's passenger service

Joby Aviation announced Monday that it will purchase Blade Air Mobility's helicopter ride-share business, which includes passenger services, for up to $125 Million. Joby is working to accelerate the deployment of commercial air taxis.

Blade's medical transplant division will not be part of the deal. It will remain a public company rebranded Strata Critical Medical. However, Joby will partner with Blade on medical transport.

Joby is working hard to get its electric vertical takeoff-and-landing aircraft, or eVTOLs, certified by the Federal Aviation Administration.

Joby CEO JoeBen Bevirt stated that the company was on track to start FAA Type Inspection Flight Testing early next year. This is a crucial step before it could begin commercial service.

Bevirt said the Blade deal provides Joby with existing customers, takeoffs and landings locations, and a decade's worth of operating experience. This is "a launchpad, a catalyst for really growing the experience" Blade has built. Bevirt stated that "clean, quiet aircraft will unlock a large number of new takeoffs and landings locations."

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

"We fly people by helicopter, vertical transportation, than any other company around the globe. "With the combination of infrastructure, flyers, routes, and a globally-recognized brand, it's really to the customer...more of an asset exchange," Wiesenthal stated in an interview.

Wiesenthal said that there will be a phase of transition where the combined company operates helicopters and Joby planes. It will eventually transition to only operating Joby electric air cabs.

The deal includes the entire passenger business of Blade, including its U.S. operations and European operations. Joby agreed to pay Blade $125 million under the agreement. This includes $35 million linked to certain performance benchmarks and the retention of key employees. Reporting by David Shepardson, Editing by David Goodman, Mark Potter

(source: Reuters)