Blade and Joby stocks soar after $125 million rideshare deal — is this the future of flying taxis?

Joby stock latest news: In a bold move signalling the accelerating race toward airborne urban transport, Blade Air Mobility and Joby Aviation saw their stocks surge Monday morning after announcing a $125 million deal that could reshape the future of city travel, as per a report.

Joby Stock and Blade Stock Surge After $125 Million Deal to Reshape Urban Air Travel

Blade’s stock jumped nearly 30%, while Joby rose over 5%, after revealing that Joby will acquire Blade’s helicopter passenger rideshare business, which currently whisks busy New Yorkers to destinations like the Hamptons or nearby airports with speed and convenience, as reported by Yahoo Finance.

Blade’s Medical Transport Arm to Spin Off Into New Public Company

The agreement excludes Blade’s medical transport unit, which will be spun off into a new public company called Strata Critical Medical, according to the Yahoo Finance report.


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Blade Has Been Struggling Financially Despite Growth

Blade will now become a wholly owned subsidiary of Joby, with Blade founder and CEO Rob Wiesenthal continuing to lead its passenger transport operations, as reported by Yahoo Finance.

The move comes at a time when Blade, despite flying over 50,000 passengers in 2024 across 12 terminals, has struggled to achieve profitability since its public market debut via SPAC in 2021, according to the report. Prior to today’s rally, Blade shares were down 11% year to date and down about 60% from its peak, as reported by Yahoo Finance.

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Joby Gains Infrastructure as It Prepares for Commercial eVTOL Flights

More than just a strategic acquisition, the deal marks a clear sign of where urban mobility is headed. Joby Aviation, a $14.4 billion firm backed by Toyota, is pioneering electric vertical takeoff and landing aircraft (eVTOLs) that could one day become the backbone of flying taxi services, as per the report.

For Joby, the acquisition adds real-world infrastructure and experience to its ambitious timeline. The company is working toward FAA certification and plans to have five aircraft in the final phases of approval by 2026. It aims to begin commercial battery-powered electric vertical takeoff and landing aircraft eVTOL flights as soon as next year, according to the report.

FAQs

When will Joby's flying taxis be ready?
Joby aims to begin commercial eVTOL service as early as 2026, pending FAA certification, as per Yahoo Finance report.

Who will lead Blade after the deal?
Blade’s founder and CEO Rob Wiesenthal will continue to lead its passenger operations.