Joby Aviation Acquires Blade's Passenger Booking Business for $90 Million

What's Happening?

Joby Aviation, a U.S. air taxi developer, has agreed to acquire Blade Air Mobility's passenger-transportation business for at least $90 million. Blade's business markets and sells air travel on helicopters and other aircraft operated by partner companies. The acquisition excludes Blade's medical-transport business. Joby aims to leverage Blade's customer base and infrastructure to launch its electric vertical take-off and landing (eVTOL) aircraft once certification is secured. Blade's passenger operations will continue under Joby's ownership, led by Blade founder and CEO Rob Wiesenthal.

Why It's Important?

This acquisition is a strategic move for Joby Aviation as it prepares to enter the air taxi market with its eVTOL aircraft. By acquiring Blade's passenger business, Joby gains access to an established customer base and infrastructure, positioning itself for a successful market entry. The deal highlights the growing interest in urban air mobility and the potential for eVTOL technology to transform transportation. It also reflects the competitive landscape in the air taxi industry, with companies seeking partnerships and acquisitions to accelerate their development and commercialization efforts.