One of Joby Aviation’s electric air taxi prototypes flies over the company’s facility in Marina, California, in 2024. Credit: Joby Aviation
Electric air taxi developer Joby Aviation announced that it plans to purchase the passenger division of one of the largest publicly traded helicopter charter companies to speed its own entry into commercial service next year.
California-based Joby said Monday it had reached a $125 million deal with New York-based Blade Air Mobility, which is expected to close in the “coming weeks.”
The acquisition includes Blade’s busiest routes in the New York City area and in the south of France, where helicopters shuttle passengers to French Riviera beach resort locations such as Monaco, Nice and Saint-Tropez. It also includes the Blade name and its CEO, Rob Wiesenthal, who will continue heading up the business as a wholly owned Joby subsidiary.
“Blade already has air operator certificates for those routes, and that’s a big reason Joby is making this acquisition,” said Sergio Cecutta of SMG Consulting, an Arizona-based analyst who maintains the company’s AAM Reality Index, which ranks air taxi developers by factors including money raised and milestones achieved.
Blade flew some 50,000 passengers in 2024 from a network of 12 urban terminals, Joby said in its press release. That includes lounge and terminal bases at John F. Kennedy International Airport, Newark Liberty Airport, Manhattan and Wall Street. Those routes were flown by chartered pilots on fossil-fueled helicopters, booked through Blade’s digital app and reservation system. Joby plans to operate a fleet of all-electric air taxis for such urban services, which the company says would be much quieter than today’s helicopters, which often receive noise complaints. Joby also expects its aircraft will be less expensive to operate due to reduced costs for fuel and maintenance.
Asked how Blade’s fleet will transition from helicopters to Joby’s S4 air taxis, Joby told me by email that it intends to begin that process as soon as the company receives an FAA type certificate for the S4. It’s not known when FAA will grant such a certificate, but Joby intends to begin passenger service next year in the United Arab Emirates regardless.
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“We recognize the strong relationships Blade has built with its operator network,” Joby said in the email. “We’ll be working in the interim with the Blade team to further define how we will execute this transition.”
Joby must work with Blade’s multiple charter operators to maintain operations and safety, said Austin Moeller, director of equity research and senior analyst with Canaccord Genuity, a Vancouver-based financial services company.
“I think Joby’s ultimate goal is to own/operate its own electric aircraft and eventually phase out the charter company relationships. This business model could change, however,” Moeller told me by email.
The acquisition will help Joby “accelerate its commercialization while reducing infrastructure investment requirements and customer acquisition costs,” Joby said in its release.
Blade’s medical blood and organ transport business is not part of the deal and will remain a separate public company, which is to be renamed Strata Critical Medical. Joby said its agreement with Blade states that whenever possible, Joby will be Strata’s preferred transporter.
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