Joby Aviation Acquires Blade Passenger Business for $125 Million

Joby Aviation has agreed to acquire Blade Air Mobility's helicopter rideshare passenger business for up to $125 million, a deal that includes Blade's US and European operations, terminals, lounges, and brand. The acquisition provides Joby with immediate access to Blade's established customer base and infrastructure, having transported over 50,000 passengers in 2024 through 12 urban terminals, including major airports like JFK and Newark. Blade's medical transport division will spin off as a separate public company named Strata Critical Medical, which will partner with Joby for medical transportation using Joby's electric vertical takeoff and landing (eVTOL) aircraft. Blade CEO Rob Wiesenthal will continue to lead the passenger operations, now a wholly owned subsidiary of Joby, with a transition phase involving both helicopters and Joby's electric air taxis before eventually operating only Joby's aircraft. The deal has been positively received by investors, with both companies' stocks surging, reflecting optimism about the future growth of urban air mobility and the potential for quieter, cleaner, and more efficient transportation options in congested urban corridors. This acquisition positions Joby to accelerate FAA certification of its eVTOL technology and expand the urban air mobility market, which analysts predict could be worth over $20 billion by 2030.