Joby Aviation to buy Blade Air Mobility's ride-share business

Core Viewpoint - Joby Aviation has agreed to acquire Blade Air Mobility's helicopter ride-share business for up to $125 million, which will enhance Joby's operational capabilities and market presence in urban air mobility [1][4]. Group 1: Acquisition Details - Joby is purchasing the Blade brand and its passenger business, which operates in the U.S. and Europe, while Blade's medical division will remain a separate entity [2][3]. - The acquisition provides Joby with immediate access to a network of 12 terminals in key markets, including dedicated lounges and terminal bases at major airports in New York City [2][3]. - Joby will hold back $35 million of the purchase price, contingent on Blade achieving specific performance milestones and retaining key employees [7]. Group 2: Strategic Importance - Joby views the acquisition as "strategically important" for launching its commercial operations in Dubai and facilitating a global rollout of its services [4]. - The integration of Joby's air taxi management software into Blade's passenger service is expected to enhance operational efficiency [4]. Group 3: Company Background - Joby Aviation, founded in 2009, has been developing electric vertical take-off and landing (eVTOL) aircraft for urban taxi services and is also exploring a defense-related business [5]. - Blade, established in 2014, operates a digital network for booking private helicopter rides and has seen significant growth, flying over 50,000 passengers in 2024 [3].