Joby Said to Weigh Deal for Helicopter Ride-Share Operator Blade
(Bloomberg) -- Joby Aviation Inc is exploring an acquisition of helicopter ride-share operator Blade Air Mobility Inc, according to people familiar with the matter.
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Joby has been evaluating a deal for Blade, which sells per-seat helicopter trips from New York City to nearby airports and resort towns, said the people, who asked to not be identified because the details aren’t public. The potential acquisition would give Joby, which is developing battery-powered air taxis, a ready-made market for its aircraft.
No final decision has been made and Joby could opt against pursuing a deal for Blade, the people added. Representatives for Joby and Blade didn’t immediately respond to requests for comment.
Blade, which went public through a merger with a special purpose acquisition company in 2021, hasn’t reported an annual a profit since it listed. The company’s shares have fallen 10% this year, giving it a market value of $309 million.
Backed by Toyota Motor Corp., Joby expects to have five aircraft in one of the final phases of certification next year as it aims to start commercial flights in early 2026. The $13.6 billion company announced plans last month to double production capacity at its plant in Marina, California, to manufacture up to 24 aircraft a year.
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