I would speak to his doctor but make sure they know what medications he is taking. My grandfather had the same problem. First of all his doctor changed and titrated his blood pressure medications and also they found Namenda to be quite helpful.
At that age, he probably has some compromised cerebral blood flow, and tiredness, or medications or alchohol can tip the balance, leading to blackouts. You might ask his doctors to try one of the medications that enhances cerebral blood flow.