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Flying-taxi service Joby soars 18% on Delta Air Lines' $60M investment

Oct. 11, 2022 8:25 AM ETDelta Air Lines, Inc. (DAL), JOBYBy: Preeti Singh, SA News Editor10 Comments

Fast yellow taxi car driving on a highway

sergeysan1/iStock via Getty Images

  • Air mobility firm Joby Aviation (NYSE:JOBY) shares surged 18% on Tuesday morning after it received a $60M equity investment from and forged a multi-year partnership with Delta Air Lines (NYSE:DAL).
  • The partnership will offer sustainable home-to-airport transportation service

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Comments (10)

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sts66 profile picture
$60M investment into a stock with a $2.52B MC? A pittance!
pat45 profile picture
$XPEV just demonstrated their flying taxi/cars in Dubai today
charly333 profile picture
JOBY likes to raise $1B and Delta will invest $60M. Delta looks a bit shy.

Anyway this EVTOL sector is all about selling shares. Sell it to investors, sell it to potential customers. Avoid this business imo.
@charly333 yes...my feeling too, $60 mil is peanuts these days but the fact that Delta chose them and not a competitor is encouraging and will cause some temporary short covering
Tim Dunn profile picture
given that AAL and UAL had already made investments in other urban air mobility companies, DAL had to do something in order to remain competitive. I think JOBY will deliver but as is noted in the article, how close they can park to DAL's terminals will make a big difference in how well accepted they are used.
sts66 profile picture
@Tim Dunn Where does which article say where they park near terminals is a problem? I know it's a serious problem, but there's nothing in the link above that mentions it.
Tim Dunn profile picture
other news sources that covered the story carried DAL's CEO's statement that UAM will not reach their full potential at airports until they can co-locate with their linked parties.
sts66 profile picture
@Tim Dunn UAM? Who is that? I don't know how you solve the air traffic control problems with eVTOLs landing and taking off from airports - restricted air space issues.
BTR2RSK profile picture
Nice potential.
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