FAA Finalizes Rules for Air Taxis; Joby Shares Rise 12.3%

Oct 22, 2024, 05:15 PM

The Federal Aviation Administration (FAA) has finalized new rules for powered-lift aircraft, paving the way for air taxis and advanced air mobility in the United States. These regulations establish training and operational requirements for this new category of aircraft, which includes electric vertical takeoff and landing (eVTOL) vehicles. The announcement marks a significant milestone for companies such as Joby Aviation Inc. and Archer Aviation Inc., enabling them to move closer to commercial operations. Joby shares rose by 12.3% following the news. The FAA's final rule aims to ensure the safe integration of these innovative aircraft into U.S. airspace.