Joba aviation stocks pop up 14% after delivering the first flying taxis to the UAE


Electrical air taxi LOTS Lotts near Śródmieście at Manhattan Heport in Manhattan, New York, USA, November 12, 2023.

Roselle Chen Reuters

Joba aviation Actions increased by about 14%when the creator of the flying air approached the launch of the service in the United Arab Emirates.

Electric clash and landing, or EvtolThe company said on Monday that it delivered its first plane to the UAE and finished the piloted flight tests when it is preparing for the premiere of 2026 in the region.

“Our flights and operational trail in Dubai are a monumental step towards weaving air taxi services to the fabric of everyday life around the world,” said the founder and general director Joeben Bevirt Wa release. He called the nation in the Middle East “starting global revolution in the field of movement.”

Planned Joby beginning In February 2024, the Road and Transport Office was announced in the United Arab Emirates in February 2024. The contract covered the exclusive rights to conduct taxi services in Dubai for six years.

As part of the project, Joby said in November that he began to build one letter at the international airport in Dubai, with three additional locations on Palm Jumeirah and Dubai's Downtown and Marina. Joba too announced a contract with an air taxi with three government departments in Abu Dhabi in 2024.

The California company has made other expansion movements in the Middle East. Actions jumped at the beginning of this month after the announcement of Abdul Latif Jameel Abdul Latif Jameel Investment about $ 1 billion For a maximum of 300 EVTOLS. The company participated in the financing round of the C Joba series.

Joby shares increased this year by over 32%, swelling market capitalization to over $ 9 billion.

The demand for air taxis that start and land similar to helicopters, has been gaining momentum in recent years. The service faces regulatory obstacles and security, but was praised for its ability to reduce movement embolism and cut off emissions.

At the beginning of this month the President Donald Trump signed an ordinance that included a pilot program for testing Electric taxis.

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