Joby Aviation to buy Blade Air Mobility's ride-share business | TechCrunch https://t.co/os5JICH5Iz ...

Core Viewpoint - Blade Air Mobility, Inc. has announced the sale of its passenger division to Joby Aviation for up to $125 million, allowing Blade to focus on its medical logistics business, which will rebrand as Strata Critical Medical [1][9][10]. Company Overview - Blade Air Mobility provides air transportation and logistics, primarily for hospitals in the U.S., and is one of the largest transporters of human organs for transplant [12]. - Joby Aviation is developing an all-electric vertical take-off and landing air taxi service, intending to operate and sell its aircraft globally [14]. Transaction Details - The sale price for the passenger division is up to $125 million, which may be paid in cash or Joby stock, including up to $35 million in performance-based earnouts [10]. - The transaction is expected to close in the coming weeks, with a new ticker for Strata to be announced later [11]. Strategic Focus Post-Transaction - Following the divestiture, Strata will concentrate on its medical logistics and services, leveraging its asset-light platform to enhance its offerings and pursue growth through acquisitions [2][8]. - The medical division represented approximately 84% of Blade's Segment Adjusted EBITDA and 59% of its revenue in 2024, indicating a strong focus on this profitable segment [8]. Leadership Changes - Rob Wiesenthal, the current CEO of Blade, will join Joby as CEO of Blade Air Mobility and serve as Chairman of Strata [5]. - Will Heyburn and Melissa Tomkiel will become Co-CEOs of Strata while retaining their existing roles [6]. Partnership and Future Opportunities - A long-term partnership between Joby and Strata will provide access to Joby aircraft for medical use, enhancing Strata's service capabilities [4][9]. - The expected operational efficiencies from the divestiture are estimated at approximately $7 million annually, making the financial impact neutral in terms of Adjusted EBITDA and Free Cash Flow [5][9].

Core Viewpoint - The low-altitude economy sector has underperformed compared to the Shanghai Composite Index during the reporting period, indicating a need for further development and investment in this emerging industry [1][2]. Market Performance - The Wind Low Altitude Economy Index increased by 0.62%, lagging behind the Shanghai Composite Index by 0.10 percentage points, but outperforming the CSI 300 Index by 0.71 percentage points and underperforming the ChiNext Index by 1.37 percentage points [1][2]. - The National General Aviation Index rose by 0.35%, underperforming the Shanghai Composite Index by 0.37 percentage points, outperforming the CSI 300 Index by 0.44 percentage points, and lagging behind the ChiNext Index by 1.64 percentage points [1][2]. National and Local Policy Support - The National Development and Reform Commission emphasized the importance of promoting high-quality development in the low-altitude economy during a meeting on July 31 [2]. - Shenzhen's Development and Reform Commission released a plan for high-quality construction of low-altitude infrastructure from 2024 to 2026, aiming to establish itself as the "global low-altitude economy capital" [2]. - Guangdong Province's Data Bureau issued a plan to build a credible data space for the low-altitude industry by the end of 2027, fostering a data-driven ecosystem [2]. Strategic Collaborations and Developments - Volant Aviation signed a strategic cooperation agreement with Thailand's Pan Pacific and China Aviation Technology International Engineering, involving the procurement of 500 eVTOL aircraft valued at $1.75 billion [3]. - Hubei Province signed agreements for the establishment of low-altitude economic comprehensive experimental zones, focusing on interconnectivity and sustainable business models [3]. - Peak Aviation delivered the world's first eVTOL aircraft with all three necessary certifications, indicating advancements in the eVTOL sector [4]. - Joby Aviation announced plans to launch eVTOL passenger flights in the Middle East by spring 2026, marking a significant step in commercial operations [6]. Investment Recommendations - The low-altitude economy is gaining national strategic focus, with local policies accelerating support and resource allocation. Key areas for investment include components, complete aircraft, infrastructure, and air traffic management [6]. - Relevant companies include: - Upstream components: Yingboer, Zongshen Power, Wolong Electric Drive, Zongheng Communication, Zhonghe Technology [6]. - Complete aircraft manufacturers: EHang Intelligent, Wanfeng Aowei, XPeng Motors, Green Energy Huichong [6]. - Air traffic management systems: Lais Information, Shenzhen Urban Transport, Sichuan Jiuzhou, Sujiao Science and Technology [6]. - Supporting services: Guangdian Measurement, Huace Testing, Weihai Guotai, Hite High-tech [6].

Core Viewpoint - Joby Aviation is considering acquiring Blade Air Mobility to gain access to a mature air travel market, although no final agreement has been reached yet [1] Group 1: Company Developments - Joby Aviation is evaluating a potential acquisition of Blade Air Mobility, which operates helicopter-sharing routes primarily in New York City [1] - Blade Air Mobility went public through a SPAC merger in 2021 but has yet to achieve annual profitability, with its stock price down 10% this year and a current market capitalization of approximately $309 million [1] - Joby Aviation, valued at $13.6 billion, plans to launch commercial flight services in early 2026 and aims to double its annual production capacity at its Marina, California facility to 24 aircraft [1] Group 2: Market Context - The acquisition, if successful, would allow Joby to directly enter the established air travel market, leveraging Blade's existing operations [1] - Joby is currently in the final stages of certification for five aircraft expected to enter service next year [1]

Core Viewpoint - Joby Aviation is considering acquiring Blade Air Mobility to gain access to a mature air travel market, although no final agreement has been reached yet [1] Company Overview - Joby Aviation is developing electric air taxis and plans to launch commercial flight services in early 2026, with five aircraft expected to enter the final stage of airworthiness certification next year [1] - Joby has a current market capitalization of $13.6 billion and recently announced plans to double its annual production capacity at its Marina, California facility to 24 aircraft [1] Market Context - Blade Air Mobility operates helicopter-sharing routes primarily between New York City and surrounding airports and resorts, utilizing a single-seat ticketing model [1] - Blade went public through a SPAC merger in 2021 but has yet to achieve annual profitability, with its stock price down 10% year-to-date and a current market value of approximately $309 million [1]

Mergers and Acquisitions - Joby Aviation Inc 正在探索收购直升机乘车共享运营商 Blade Air Mobility Inc [1]

Industry Collaboration - Joby Aviation 与国防承包商 L3Harris 合作测试自动驾驶混合动力飞机 [1] Technological Advancement - 行业关注 Joby Aviation 在自动驾驶混合动力飞机领域的测试进展 [1]

Core Insights - Joby Aviation has delivered its first electric vertical take-off and landing (eVTOL) aircraft to the US Air Force, marking a significant milestone for the air taxi start-up [1] - A partnership has been established between Joby Aviation and L3Harris to develop a next-generation military aircraft that can operate both autonomously and with a pilot [1][2] - Testing for the new military craft is expected to begin in the fall, with operational demonstrations planned for 2026 [2] Industry Context - The ongoing conflicts, such as the one between Russia and Ukraine, are influencing perceptions of low altitude aviation and the urgency for rapid deployment capabilities [3] - The collaboration combines Joby's hybrid VTOL technology with L3Harris's military systems expertise, aiming to enhance the operational capabilities of military aviation [2]

L3Harris is working with air taxi maker Joby Aviation to develop a new class of aircraft for defensive applications, with flight testing planned for as soon as later this year https://t.co/gtOQqJRPFb ...

Core Viewpoint - Joby Aviation is expanding its focus beyond commercial electric air taxis to include defense applications through a partnership with L3Harris Technologies to develop a gas-turbine hybrid vertical take-off and landing aircraft for military use [1][2]. Group 1: Partnership and Development - Joby Aviation has signed an agreement with L3Harris Technologies to explore the development of a new aircraft class, specifically a gas-turbine hybrid VTOL that can operate autonomously for defense applications [2]. - The new VTOL will be based on Joby's existing S4 aircraft platform, which has primarily been developed with an all-electric powertrain [3]. - Joby previously demonstrated a hydrogen-electric hybrid version of the S4 that achieved a flight range of 521 miles, significantly exceeding the range of its battery electric prototype [3]. Group 2: Testing and Certification - The agreement with L3Harris is currently exploratory, with hopes that upcoming flight tests and operational demonstrations will lead to a military contract with the U.S. Department of Defense (DoD) [4]. - Flight testing is scheduled to begin this fall, with operational demonstrations expected in 2026 [4]. - Joby has been working towards obtaining Type 1 certification from the Federal Aviation Administration for its all-electric VTOL aircraft, aimed at urban passenger transport [4]. Group 3: Strategic Insights - Joby has collaborated with the DoD for nearly a decade, focusing on understanding the requirements necessary to meet military needs, particularly emphasizing the importance of range [5]. - The company aims to demonstrate the "missionization of its platform," integrating sensors, autonomy, communications, and payload capabilities to provide clear use cases for the DoD [7]. - L3Harris is expected to contribute its expertise in long-range, crewed-uncrewed teaming for various missions, including low-altitude support operations [8][9].