Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Joby receives FAA nod to start air taxi services commercially

Stock Markets May 26, 2022 11:30PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: A Joby Aviation Air Taxi is seen outside of the New York Stock Exchange (NYSE) ahead of their listing in Manhattan, New York City, U.S., August 11, 2021. REUTERS/Andrew Kelly

WASHINGTON (Reuters) -Joby Aviation Inc said on Thursday it had received a certification from the Federal Aviation Administration (FAA) that would allow it to begin its air-taxi operations commercially with a conventional airplane.

Although the certification gives the necessary clearance and is a significant milestone, the company still has additional regulatory hurdles to clear before its five-seater aircraft can legally fly passengers.

The FAA's Part 135 Air Carrier Certificate is among the three regulatory approvals critical for Joby's planned launch of all-electric aerial ridesharing service in 2024.

The certification would let Joby operate its electric vertical take-off and landing (eVTOL) aircraft as an air taxi service in cities and communities across the United States.

The FAA said it issued Joby the Part 135 certificate on May 19 "after they completed the five-phase certification process. Joby has one aircraft on the certificate, a CIRRUS-SR22."

Joby said it plans to use the conventional aircraft "to refine systems and procedures in advance of launching eVTOL service targeted for 2024."

Joby shares closed up 8%.

Asked about Joby's statement that the approval was ahead of schedule -- with completion of the process originally expected in the second half of 2022 -- the FAA said it "doesn't set a schedule for applicants and can’t speak to their characterization of the timing."

In February, Joby's piloted prototype aircraft met with an accident during a flight test at its base in California but no injuries were reported.

Earlier this month, FAA said it had shifted course on its approach to approving pilots for future eVTOL aircraft but does not expect it to delay certification or operational approvals.

Joby reported a net loss of $62.3 million in the first quarter this year and flagged costs related to aircraft certification and early manufacturing operations.

Joby receives FAA nod to start air taxi services commercially
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email