ACE to sell Air Canada; Lagardere to sell EADS stake
15th November 2012
Blade Air Mobility has closed the sale of its passenger business to Joby Aero on August 29, 2025. The purchase agreement was first disclosed on August 1, 2025.
The company will transition to focus on its medical services and logistics business. The medical division will rebrand as Strata Critical Mission after the transaction's close. The company's operating business in the medical segment, which air transports human organs for transplant in the US, will remain Strata's wholly owned subsidiary.
The divestiture of its passenger business includes operations in the US and Europe, lounges and terminals in key hubs, as well as the Blade brand. Operations will continue with the business functioning as a standalone entity within Joby upon closing.
As part of this transaction, Strata will gain access to Joby aircraft for medical use as part of a long-term eVTOL partnership between the companies.
The initial purchase price at close is approximately $76 million, paid in 5.3 million shares of Joby Aviation common stock, calculated at $14.27 per share. There is also potential to receive up to $35 million more if certain employee retention and financial performance targets are met over the next year to year-and-a-half, as well as up to $10 million in indemnity holdbacks that may be released.