Joby Aviation has completed the acquisition of Blade Air Mobility’s passenger business. The deal gives Joby access to Blade’s established network of terminals and loyal flyers in New York and Southern Europe, supporting a quicker move into commercial service once certification of its all-electric vertical takeoff and landing aircraft is achieved.

Blade flew over 50,000 passengers in 2024 from a network of 12 terminals, including lounges at JFK, Newark, Manhattan’s East and West Sides, and Wall Street. Under the new arrangement, Blade’s passenger operations will continue as a wholly-owned subsidiary of Joby, led by founder and CEO Rob Wiesenthal.

By leveraging Blade’s existing infrastructure and gradually transitioning its clientele from traditional helicopters to Joby’s eVTOL aircraft, Joby expects to accelerate commercial launch, reduce infrastructure costs and lower customer acquisition expenses. The deal also supports Joby’s upcoming launch in Dubai and lays groundwork for global expansion.

Simultaneously Blade’s medical division was not part of the sale and has been re-branded Strata Critical Medical (Strata), remaining a public company focused on mission-critical logistics and medical air services across the USA. Trinity Medical Solutions, one of the nation’s largest organ-transport operators, remains its wholly owned subsidiary.

Strata will benefit from a long-term eVTOL partnership with Joby, gaining access to Joby aircraft for medical operations. Joby becomes the preferred VTOL partner to Strata’s organ transport business in markets where Joby operates. The quiet, potentially lower-cost nature of Joby’s aircraft is expected to offer competitive advantages for Strata’s healthcare clients.

Financially, Blade is receiving up to USD 125 million, payable in Joby stock or cash, including up to USD 35 million in performance-based holdbacks. The divestiture is projected to be neutral on adjusted EBITDA and free cash flow, supported by about USD 7 million in annual corporate cost efficiencies.

At closing, Rob Wiesenthal will lead Blade as CEO and will chair Strata’s board. Will Heyburn and Melissa Tomkiel will serve as co-CEOs of Strata, retaining their respective roles as CFO and General Counsel. Eric Affeldt becomes lead independent director.