Joby Applies to Become First Certified Electric Air Taxi Operator in UAE

Rhea-AI Summary

Joby Aviation (NYSE:JOBY) has taken a significant step towards becoming a certified air taxi operator in the United Arab Emirates. The company presented a Letter of Intent to initiate its Air Operator Certificate application to the UAE General Civil Aviation Authority (GCAA). This move follows Joby's agreements with Dubai's Road and Transport Authority to launch air taxi services in Dubai, and a multilateral MoU with Abu Dhabi authorities to establish services in Abu Dhabi.

Joby's electric air taxi is designed to carry a pilot and four passengers at speeds up to 200 miles per hour, potentially reducing a 45-minute car journey to just 10 minutes. The company will undergo a five-stage application process with the GCAA, including developing operating manuals, facility inspections, and observation of pilot and mechanic training.

Positive

• Joby is positioning itself as a pioneer in the UAE's electric air taxi market
• Partnerships with Dubai and Abu Dhabi authorities indicate strong government support
• Potential to significantly reduce travel times in congested urban areas
• Previous experience with U.S. FAA certification process may streamline UAE application

Negative

• None.

Aviation Industry Analyst

Joby's application for an Air Operator Certificate in the UAE marks a significant milestone in the electric air taxi industry. This move positions Joby as a first-mover in the UAE market, potentially giving them a competitive advantage in a rapidly growing sector. The partnership with Dubai's RTA and the expanded MoU with Abu Dhabi authorities demonstrate strong government support, which is important for regulatory approval and infrastructure development.

The five-stage application process will be rigorous, but Joby's experience with the FAA certification in the U.S. should prove valuable. The company's ElevateOS software system and two years of operational experience with traditional aircraft provide a solid foundation for their UAE operations. However, investors should note that the timeline for commercial operations remains uncertain and regulatory hurdles could still pose challenges.

Urban Transportation Expert

Joby's electric air taxi service has the potential to revolutionize urban mobility in the UAE. The projected travel time reduction from 45 minutes to 10 minutes between Dubai International Airport and Palm Jumeirah is impressive and could significantly impact tourism and business travel. This service aligns well with the UAE's smart city initiatives and commitment to sustainable transportation.

However, the success of this venture will depend on factors such as pricing, accessibility and integration with existing transportation networks. The infrastructure requirements for vertiports and charging stations will be substantial. Investors should consider the scalability of the operation and potential for expansion to other emirates and neighboring countries. The UAE's role as an early adopter could position it as a global hub for advanced air mobility, potentially attracting more investment and innovation in the sector.

Environmental Technology Specialist

Joby's electric air taxi represents a significant leap forward in sustainable urban transportation. The emphasis on "fast, clean and quiet journeys" aligns with global efforts to reduce carbon emissions in the transportation sector. The UAE's support for this technology demonstrates its commitment to diversifying from oil-dependent industries and embracing green technologies.

The environmental impact of these air taxis compared to traditional vehicles and helicopters could be substantial, particularly in terms of noise pollution and air quality. However, the energy source for charging these vehicles will be important in determining their overall environmental footprint. Investors should consider the long-term sustainability of this technology and its potential to scale globally as countries seek to meet climate goals. The success of Joby in the UAE could serve as a model for other regions, potentially opening up new markets for the company.

SANTA CRUZ, Calif.--(BUSINESS WIRE)-- Joby Aviation, Inc. (NYSE:JOBY), a company developing electric air taxis for commercial passenger service, today announced it has taken the first step towards becoming a certified air taxi operator in the United Arab Emirates.

JoeBen Bevirt, Founder and CEO of Joby, presents the company’s Letter of Intent to initiate Joby’s Air Operator Certificate application to His Excellency Saif Mohammed Al Suwaidi, Director General of the UAE General Civil Aviation Authority. Christina Esteban Photography

During the International Civil Aviation Organization’s inaugural Advanced Air Mobility Summit, taking place in Montreal, Canada this week, JoeBen Bevirt, founder and CEO of Joby Aviation, met with His Excellency Saif Mohammed Al Suwaidi, Director General of the UAE General Civil Aviation Authority (GCAA), and presented Joby’s Letter of Intent to initiate Joby’s Air Operator Certificate application.

In February 2024, Joby signed a definitive agreement with Dubai’s Road and Transport Authority (RTA) to launch air taxi services in the Emirate of Dubai, positioning the city as a world leader in the next generation of fast, clean and quiet air mobility.

In April 2024, Joby expanded its partnership with the UAE through a multilateral Memorandum of Understanding (MoU) with the Department of Municipalities and Transport – Abu Dhabi (DMT), the Abu Dhabi Department of Economic Development (DED) and the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi), paving the way for Joby to establish and scale air taxi services in Abu Dhabi and beyond.

Bevirt commented: “There is incredible momentum behind the adoption of clean flight across the UAE, and we’re excited to be working with a wide range of partners, including the GCAA, to lay the groundwork for one of the world’s first electric air taxi networks, delivering fast, clean and quiet journeys using our revolutionary aircraft.”

H.E Saif Al Suwaidi said: “The Letter of Intent for the operator certificate application from Joby Aviation marks a significant milestone in the UAE’s journey towards becoming a global leader in EVTOL operations. Our readiness to support these advanced technologies underscores our commitment to fostering advanced air mobility solutions that will be part of the future of transportation in the UAE and beyond. We are excited to work closely with Joby Aviation to ensure the highest standards of safety and efficiency as we advance towards the realization of commercial EVTOL operations in our skies.”

Issued by the GCAA, the Air Operator Certificate is required to operate commercial air transport in the UAE. Joby will follow a five-stage application process that will see the Company develop a full complement of air taxi operating manuals, undergo inspections of its UAE-based facilities, and complete GCAA observation of pilot and aircraft mechanic training as well as flight operations.

Joby completed a similar process to receive its U.S. Part 135 Air Carrier Certificate from the Federal Aviation Administration in May 2022 and has operated traditional aircraft in the U.S. for more than two years, refining aspects of the Company’s intended air taxi operations while using its proprietary ElevateOS software system.

Joby’s electric air taxi is designed to carry a pilot and four passengers at speeds of up to 200 miles per hour, with a journey from Dubai International Airport to Palm Jumeirah, which typically takes 45 minutes by car, expected to take just 10 minutes.

About Joby

Joby Aviation, Inc. (NYSE:JOBY) is a California-based transportation company developing an all-electric, vertical take-off and landing air taxi which it intends to operate as part of a fast, quiet, and convenient service in cities around the world. To learn more, visit www.jobyaviation.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the development and performance of our aircraft, the growth of our manufacturing capabilities, our regulatory outlook, progress and timing; our business plan, objectives, goals and market opportunity; our expectations related to certification and operation of our aircraft in the United Arab Emirates, including routes and timing; and our current expectations relating to our business, financial condition, results of operations, prospects, capital needs and growth of our operations, including the expected benefits of our vertically-integrated business model. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. All forward looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including: our ability to launch our air taxi service and the growth of the urban air mobility market generally; our ability to produce aircraft that meet our performance expectations in the volumes and on the timelines that we project; complexities related to obtaining certification and operating in foreign markets; the competitive environment in which we operate; our future capital needs; our ability to adequately protect and enforce our intellectual property rights; our ability to effectively respond to evolving regulations and standards relating to our aircraft; our reliance on third-party suppliers and service partners; uncertainties related to our estimates of the size of the market for our service and future revenue opportunities; and other important factors discussed in the section titled “Risk Factors” in our Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the “SEC”) on February 27, 2024, and in future filings and other reports we file with or furnish to the SEC. Any such forward-looking statements represent management’s estimates and beliefs as of the date of this release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.

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Joby Aviation

Investors:

investors@jobyaviation.com

Media:

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Source: Joby Aviation, Inc.

FAQ

What is Joby Aviation's latest move in the UAE electric air taxi market?

Joby Aviation has submitted a Letter of Intent to initiate its Air Operator Certificate application with the UAE General Civil Aviation Authority, taking the first step towards becoming a certified electric air taxi operator in the country.

How fast can Joby's electric air taxi fly and how many passengers can it carry?

Joby's electric air taxi is designed to carry a pilot and four passengers at speeds of up to 200 miles per hour.

What agreements has Joby Aviation (JOBY) made in the UAE for its air taxi services?

Joby Aviation has signed a definitive agreement with Dubai's Road and Transport Authority to launch air taxi services in Dubai, and a multilateral MoU with Abu Dhabi authorities to establish and scale air taxi services in Abu Dhabi and beyond.

What is the potential time saving for a journey from Dubai International Airport to Palm Jumeirah using Joby's air taxi?

A journey from Dubai International Airport to Palm Jumeirah, which typically takes 45 minutes by car, is expected to take just 10 minutes using Joby's electric air taxi.