What's Happening?
Joby Aviation has completed the acquisition of Blade Air Mobility's passenger division for $76 million in stock. This acquisition includes a brokerage and marketing business, as well as leased terminal space at several airports and heliports. Blade will now focus solely on its medical transport business, rebranding as Strata Critical Medical. The acquisition is expected to accelerate Joby's entry into commercial service with its electric vertical take-off and landing (eVTOL) aircraft.
Why It's Important?
The acquisition provides Joby Aviation with established infrastructure and a customer base, crucial for the rollout of its eVTOL air taxi service. This move positions Joby to leverage Blade's network in key markets like New York and Southern Europe, potentially transforming urban air mobility. The deal reflects the growing interest and investment in eVTOL technology, which promises to revolutionize short-distance travel and reduce urban congestion.
What's Next?
Joby Aviation will focus on integrating Blade's operations and customer base into its eVTOL service plans. The company will continue developing and certifying its aircraft, navigating regulatory challenges. Success in these areas could lead to expanded service offerings and partnerships, influencing the future of urban air mobility.
