Joby Aviation to take over Blade Air Mobility
Following the acquisition, Joby plans to use its new assets to accelerate the introduction of electric air taxis for commercial passenger transport. Blade CEO Rob Wiesenthal explained the strength of his company: “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.”
The asset swap will not only include the passenger transport business, but Joby has also agreed to take over Blade’s organ transport business, which will remain a separate public company and will be re-named ‘Strata Critical Medical’. Joby adds that it plans to improve the business by integrating its ElevateOS software tools. Blade’s operations currently cover the USA and Europe, including both medical and passenger transport applications.
Blade Air Mobility was founded in 2014, but does not actually have its own vehicle fleet. Instead, the company focuses on more of a ride-share concept, where users can utilise a digital network to book private rides on helicopters across short routes. It mostly operates in luxury spaces, such as the Hamptons, Saint-Tropez and Monaco.
“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, “ said JoeBen Bevirt, founder and CEO, Joby Aviation. “Over the last decade, Rob and the team at Blade have built a world-class passenger experience that demonstrates the value of vertical lift. With access to the infrastructure they have secured and the loyal customer base they have developed, we will be in the best possible position to launch our quiet, electric aircraft as soon as certification is secured.”
According to Joby, the transaction is “expected to close in the coming weeks, subject to satisfaction or waiver of customary closing conditions.” The $125 million purchase price also includes $35 million tied to performance milestones and employee retention.
Joby Aviation just recently expanded its pilot production plant in Marina, as well as announcing a cooperation with Virgin Atlantic earlier this year. Towards the end of 2024, Toyota invested $500 million in the VTOL manufacturer, which is intended for the certification and commercial production of Joby’s electric flying taxi.
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