Electric air-taxi developer Joby Aviation Inc. agreed to acquire the passenger business of Blade Air Mobility Inc. for as much as $125 million in cash and stock. The deal includes the Blade brand and operations in the United States and Europe, giving Joby immediate access to 12 urban terminals and lounges, including facilities at New York’s John F. Kennedy and Newark airports and several Manhattan heliports. Blade’s medical transport division, which moves transplant organs, is excluded from the sale and will be spun off as Strata Critical Medical. Blade founder and Chief Executive Officer Rob Wiesenthal will continue to run the passenger unit as a wholly owned Joby subsidiary, and the companies said they will keep working together on medical-logistics flights. Joby, which aims to launch commercial electric vertical-takeoff-and-landing (eVTOL) services in 2026, said the acquisition accelerates its path to market by providing a ready customer base and infrastructure. Blade flew more than 50,000 passengers last year, operating helicopter rides on short-haul routes such as Manhattan-to-the-Hamptons and Nice-to-Monaco; those flights are expected to transition to Joby’s battery-powered aircraft over time. Under the terms, $35 million of the consideration will be released only if the acquired business meets performance targets and retains key staff. The transaction is expected to close in the coming months, subject to customary approvals. In pre-market trading, Blade shares jumped about 22% while Joby gained roughly 5%.