acquisition

Private aviation business plans expansion into Southern California facilities.

Company sells its passenger business to Joby Aviation.

Electric air taxi developer will take over Blade’s network of terminals and lounges in locations such as New York City.

Latest addition to the manufacturer’s portfolio complements its other vertical takeoff and landing (VTOL) projects.

With the acquisition of Ferrovial Vertiports, the FBO network will add takeoff and landing infrastructure to complement electrified terminals.

The manufacturer called the acquisition the “first step” of its plan to build a facility capable of churning out 500 air taxis per year in 2025.

The company will inherit several pending patents and government contracts to ramp up development of its hybrid-electric propulsion system.

The transaction comes just a few months after Airbus U.S. Space & Defense added a dedicated military drone business.

This portfolio includes AvWeb.com, Aviation Consumer, Aviation Safety, IFR Magazine, and Kitplanes.

Significant Spirit shareholder urges board to vote for JetBlue merger.