Joby Aero Acquires Blade Urban Air Mobility for $130M

Joby Aero acquired Blade Urban Air Mobility from Blade Air Mobility for approximately $130 million. The purchase price is structured as $80 million upfront, $10 million withheld for indemnification claims, up to $17.5 million contingent on EBITDA milestones, and another $17.5 million contingent on retaining key personnel. The acquisition includes Blade's passenger business in the US and Europe, and the Blade brand. Operations will continue as a standalone entity within Joby.

Electric air taxi developer Joby Aero has agreed to acquire Blade Urban Air Mobility from Blade Air Mobility for approximately $130 million. The purchase price is structured as $80 million upfront, $10 million withheld for indemnification claims, up to $17.5 million contingent on EBITDA milestones, and another $17.5 million contingent on retaining key personnel [2].

The acquisition includes Blade's passenger business in the US and Europe, as well as the Blade brand. Operations will continue as a standalone entity within Joby. Blade's medical division, which transports organs, will remain a separate company and rebrand as Strata Critical Medical [2].

Rob Wiesenthal, Blade's founder and CEO, will join Joby as CEO of Blade Air Mobility and will also serve as Chairman of the Board of Strata. Will Heyburn and Melissa Tomkiel, Blade's Chief Financial Officer and President and General Counsel, will succeed Wiesenthal as Co-CEOs of Strata while retaining their respective roles [2].

The deal gives Joby instant access to a network of 12 terminals in key markets like New York City, including dedicated lounges and terminal bases at John F. Kennedy International Airport, Newark Liberty Airport, the West Side and East Side of Manhattan, and Wall Street [1].

Joby CEO JoeBen Bevirt described the acquisition as a "strategically important" move that will support its launch of commercial operations in Dubai and subsequent global rollout. The company plans to integrate its software, designed to manage air taxi operations, into Blade's passenger service [1].

Blade Air Mobility, founded in 2014, offers private helicopter rides across several short-hop routes, growing in popularity among affluent customers seeking to avoid traffic congestion. The company flew more than 50,000 passengers in 2024 [1].

The transaction is expected to close in the coming weeks and is expected to be Adjusted EBITDA and Free Cash Flow neutral, supported by approximately $7 million in estimated annual corporate cost efficiencies [2].

References:
[1] https://techcrunch.com/2025/08/04/joby-aviation-to-buy-blade-air-mobilitys-ride-share-business/
[2] https://www.marketscreener.com/news/joby-aero-inc-entered-into-an-equity-purchase-agreement-to-acquire-blade-urban-air-mobility-inc-f-ce7c5edad08af12c