Joby will buy Blade's air taxi business for up to $125 million
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Joby's electric air taxi flying over New York City during a 2023 demonstration flight. Photo courtesy of Joby Aviation
Joby Aviation is buying Blade Air Mobility's urban air taxi business for up to $125 million, giving it a base of loyal passengers as it begins to gradually replace conventional helicopters with quieter electric air taxis.
Why it matters: The deal will give Joby a head start over competitors by providing immediate market access and scale, while reducing costs for new vertiports and customer acquisition, Joby said.
The big picture: Electric air taxis represent the next era of aviation, enabling passengers to quietly soar over traffic en route to the airport or across crowded cities.
- Companies including Joby and Archer Aviation are working toward FAA certification for new electric vertical takeoff and landing aircraft (eVTOLs), which look like oversized drones and typically seat four passengers and a pilot.
- In June, President Trump signed an executive order advancing eVTOL technology, announcing plans for at least five pilot projects for uses such as cargo transport, medical response and rural access.
Between the lines: Blade is selling only its passenger business to Joby.
- Its rapidly growing medical division will remain a public company and rebrand itself as Strata Critical Medical.
- Blade founder and CEO Rob Wiesenthal will join Joby as CEO of Blade Air Mobility, a wholly owned subsidiary, and will also serve as non-executive chairman of Strata.
- Blade CFO William Heyburn and President Melissa Tomkiel will become co-CEOs of Strata, while keeping their respective roles.
- As part of the transaction, Joby will become a preferred provider of aircraft for Strata's organ transport business.
Zoom in: The acquisition includes Blade's passenger operations in the U.S. and Europe, as well as the Blade brand.
- Blade has a network of 12 urban terminals, including lounges at John F. Kennedy International Airport and Newark Liberty Airport, as well as several locations in Manhattan.
- Blade flew approximately 100,000 passengers in 2024 across more than 30,000 flights.
By the numbers: Under the terms of the agreement, Joby will pay Blade stock or cash, at Joby's election, up to $125 million.
- That price includes $35 million that will be released subject to the achievement of certain performance milestones and retention of certain key employees, the companies said.
What they're saying: "Rob and the Blade team have done a spectacular job of defining what this can be," Joby CEO JoeBen Bevirt tells Axios. "We're going to continue to refine that."
- Wiesenthal said Joby's electric aircraft will open up lots of expansion opportunities for passenger air taxis.
- "Right now, conventional helicopters can only land at heliports and airports," he told Axios. "Quiet electric aircraft will be the great unlock to build more lanes."
What to watch: Joby said it expects to leverage Blade's operational expertise when it launches its first air taxi service in Dubai in 2026.
- Its first U.S. market will be New York, shortly thereafter.
- Joby is also collaborating with Delta Air Lines to work air taxi service into its operations.
