Electric Air Taxi developer Joby Aviation has agreed to purchase Blade Air Mobility’s helicopter ride business for $125 million.
Joby purchases the Blade brand and its passenger business, including operations in the US and Europe. Blade founder and CEO Rob Wiesenthal will continue to lead the business, which operates as a wholly owned subsidiary of Joby.
Blade’s medical division, which transports organs, is not included in the transaction and remains a separate company.
The agreement gives Jobyy instant access to a 12-terminal network in major markets like New York City. In particular, you will get access to a dedicated lounge and terminal base on John F. Kennedy International Airport, Newar Liberty Airport, west side of Manhattan, east side of Manhattan, and Wall Street.
Founded in 2014, Blade does not own a fleet of aircraft. Instead, the company has developed a digital network that allows passengers to book private rides on helicopters on several short hop routes. The service is becoming more popular, with heeled customers looking for ways to avoid commuting from the suburbs to Manhattan or traffic to Hampton on weekends and holidays. The company also provides access to the route from Nice, France to Monaco and Saint-Tropez, and in 2024, it flew over 50,000 passengers.
Joeben Bevirt, founder and CEO of Joby Aviation, described the deal as a “strategically significant” acquisition that supports the launch of commercial operations in Dubai and subsequent global rollout. The company said it will integrate software designed to manage the operations of its air taxis into Blade’s passenger services.
Founded by Bevirt in 2009, Joby has worked for over a decade in the development, certification and production of Electric Vertical Takeoff and Landing (EVTOL) aircraft for commercial taxi services in the city. (The company is also pursuing another defense-related business.) In the end, the branded blade service, according to the company, uses electric taxis instead of helicopters in its services.
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Toyota-backed Joby was released in 2021 through a merger with Renvent Technology Partners, a special purpose acquisition company supported by LinkedIn co-founder Reid Hoffman and Zynga founder Mark Pincus.
Under the terms of the agreement, Joby is curbing the purchase price of $35 million. This is released when Blade collides with a specific performance milestone and retains certain key employees.
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