June 30, 2022

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Joby receives FAA approval to start commercial air taxi services

Joby receives FAA approval to start commercial air taxi services

WASHINGTON, May 26 (Reuters) – Joby Airlines (JOBY.N) On Thursday, it said it has obtained certification from the Federal Aviation Administration (FAA) that will allow it to begin commercial air taxi operations with a conventional aircraft.

Although the certification gives the necessary clearance and is a significant milestone, the airline still has additional regulatory hurdles that must be cleared before its five-seater aircraft can legally fly for passengers.

The FAA Part 135 air carrier certification is among the three critical regulatory approvals for Joby’s planned launch of an all-electric air transportation service in 2024.

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This certification will allow Joby to operate 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 the Joby Part 135 certification on May 19 “after they completed the five-stage certification process. Joby has one aircraft in the certification, CIRRUS-SR22.”

A Joby Air taxi is seen outside the New York Stock Exchange (NYSE) prior to its listing in Manhattan, New York City, US, August 11, 2021. REUTERS/Andrew Kelly

Joby said he plans to use conventional aircraft to “improve systems and procedures ahead of the launch of the eVTOL target service for 2024”.

Joby shares closed 8% higher.

In response to a question about Joby’s statement that approval was ahead of schedule – with the process originally expected to be completed in the second half of 2022 – the FAA said it “does not schedule applicants and cannot speak about their timing.”

In February, an experimental Joby aircraft had an accident during a flight test at its base in California, but no injuries were reported.

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Earlier this month, the FAA said it had changed course in its approach to approving pilots for future eVTOL aircraft, but did not expect it to delay certification or operational approvals. Read more

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

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Additional reporting by David Shepardson in Washington and Aishwarya Nair in Bengaluru; Editing by Anil de Silva and Shri Navaratnam

Our criteria: Thomson Reuters Trust Principles.