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Blade Exits Air Taxi Market, Sells Unit to Joby to Focus on Medical Logistics

Blade Exits Air Taxi Market, Sells Unit to Joby to Focus on Medical Logistics
Blade Air Mobility Inc. (NASDAQ: BLDE) announced on Monday its decision to divest its passenger transportation business to Joby Aviation Inc. (NYSE: JOBY) in a transaction valued at up to $125 million. This strategic move marks Blade’s withdrawal from the air taxi market to concentrate exclusively on medical air transport and logistics.
Strategic Shift Towards Medical Logistics
Under the terms of the agreement, Blade will transfer its U.S. and European passenger operations—including airport terminals and lounges—to Joby, which will manage these assets as a standalone unit. Blade is preparing to rebrand as Strata Critical Medical, a publicly traded entity dedicated to time-sensitive medical logistics. Its medical division, Trinity Medical Solutions, recognized as one of the largest air transporters of human organs in the United States, will remain a wholly owned subsidiary.
Executives emphasized the significance of the medical business within Blade’s portfolio, noting that it accounted for 84% of the company’s 2024 segment-level adjusted EBITDA and 59% of revenue. The division has maintained a 100% customer retention rate among transplant hospitals over the past year. Will Heyburn, Blade’s Chief Financial Officer, stated, “This divestiture allows us to focus entirely on Medical, our fastest growing and most profitable business line. Following the close, Strata will be a pure-play, contractual medical business operating in rapidly growing markets that are not correlated with the overall macro environment.”
The sale positions the soon-to-be Strata to expand its asset-light platform through organic growth and strategic acquisitions, targeting hospitals and healthcare networks. However, Blade’s exit from the competitive air taxi sector cedes ground to rivals in a rapidly evolving market.
Implications for Joby Aviation and Market Dynamics
For Joby Aviation, the acquisition provides immediate access to urban aviation infrastructure and a customer base exceeding 50,000 annual fliers. Blade’s terminals at JFK, Newark, and other key New York City locations are expected to accelerate Joby’s commercial rollout, particularly ahead of its inaugural passenger flights scheduled in Dubai next year. Additionally, the deal establishes Joby as the preferred vertical takeoff and landing (VTOL) partner for Blade’s organ transport unit, reinforcing collaboration between the two companies.
JoeBen Bevirt, founder and CEO of Joby Aviation, described the acquisition as “strategically important,” highlighting its role in supporting Joby’s commercial launch in Dubai, subsequent global expansion, and continued leadership in the sector. The announcement was met with a positive market response, with Joby’s stock rising following the news. The transaction is also anticipated to intensify competition within the electric air taxi market as Joby consolidates its position.
Beyond consumer eVTOL services, Joby has recently broadened its scope by partnering with L3Harris to develop hybrid military aircraft, thereby enhancing its presence in the defense sector.
Leadership Transitions
The transition will be accompanied by key leadership changes. Blade CEO Rob Wiesenthal will join Joby to lead the acquired business and will serve as chairman of Strata. Meanwhile, Blade CFO Will Heyburn and President Melissa Tomkiel will assume roles as co-CEOs of Strata Critical Medical.

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