Joby Aviation Inc (NYSE:JOBY) shares took off on the news that the electric air taxi company has successfully completed a series of piloted vertical-takeoff-and-landing (VTOL) wingborne flights in Dubai.
The company said this marks the start of its commercial market readiness efforts in the region, where it anticipates carrying its first passengers in 2026.
“The United Arab Emirates is a launchpad for a global revolution in how we move,” Joby Aviation CEO JoeBen Bevirt said.
“In addition to building a performant aircraft, we’ve also been maturing our program for anticipated passenger service with global operational capabilities and scalable, durable manufacturing. Our flights and operational footprint in Dubai are a monumental step toward weaving air taxi services into the fabric of daily life worldwide.”
Joby’s service aims to connect four key locations: Dubai International Airport (DXB), Palm Jumeirah, Dubai Marina, and Dubai Downtown, with vertiport construction already underway at these sites.
For example, a trip from DXB to Palm Jumeirah is expected to take only 12 minutes, significantly reducing the current 45-minute car journey.
Joby’s eVTOL aircraft can carry a pilot plus four passengers at speeds up to 200 mph (320 km/h), producing minimal noise and zero emissions.
Shares of Joby added 15% at $10.85 at midday on Monday.