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Benzinga

Business

Akanksha Bakshi

Blade Exits Air Taxi Space, Sells Unit To Joby To Focus On Medical Logistics

Joby Blade Medical United States Joby Aviation Strata BLDE Joby Aviation Inc T Schneider

Joby Aviation-Photo by T. Schneider via Shutterstock

Blade Air Mobility Inc. (NASDAQ:BLDE) on Monday announced that it is offloading its passenger transportation business to Joby Aviation Inc. (NYSE:JOBY) in a deal valued up to $125 million, aiming to sharpen its focus exclusively on medical air transport and logistics.

The transaction includes Blade’s U.S. and European passenger operations, airport terminals, and lounges, which will continue under Joby as a standalone unit.

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