Financial reports from eVTOL companies

FAA Issues Final Rules for Air Taxi Pilot Training; Joby Shares Surge 12.3%

Oct 22, 2024, 05:53 PM

The Federal Aviation Administration (FAA) has issued final rules for the training and certification of pilots for electric vertical takeoff and landing (eVTOL) aircraft, marking a significant milestone for the nascent air taxi industry. This regulatory framework is designed to ensure the safe integration of powered-lift aircraft, such as air taxis and cargo services, into U.S. airspace. The new rules establish comprehensive training and operational requirements, paving the way for companies like Joby Aviation Inc. and Archer Aviation Inc. to begin commercial operations. Following the announcement, shares of Joby Aviation rose by 12.3%. The FAA's move, announced by FAA_Mike, is seen as a crucial step toward the future of air travel, enabling the commercialization of electric air taxis potentially as soon as next year. The Association for Unmanned Vehicle Systems International (AUVSI) commended the FAA on the new rule.