Joby Aviation, Inc. (NYSE:JOBY), a California-based electric air taxi company, announced today that it has entered into a definitive agreement to acquire Blade Air Mobility’s leading urban air mobility passenger business for up to $125 million.
The acquisition will give Joby access to Blade’s infrastructure across key urban corridors in New York City and Southern Europe, allowing the company to accelerate its commercialization and reduce customer acquisition costs. Blade’s medical division, which was not included in the transaction, will partner with Joby on medical transportation.
Joby expects to use Blade’s existing infrastructure and transition its large loyal base of passengers to next-generation aircraft, accelerating its commercialization while reducing costs. The company plans to launch its air taxi service in Dubai next year.
The acquisition includes all of Blade’s passenger business operations in the US and Europe, as well as the Blade brand. Joby CEO JoeBen Bevirt said that the deal will support the successful launch of his company’s commercial operations in Dubai and its global rollout.
Blade founder Rob Wiesenthal stated that he believes there is no better partner for his company’s mission than Joby, which will help democratize short-distance air travel with quiet, emissions-free electric aircraft. The acquisition is subject to customary closing conditions and is expected to close in the coming weeks.
Source: https://www.jobyaviation.com/news/joby-to-acquire-blade-passenger-business