Shares of Joby Aviation (JOBY, Financial) surge 5% on Thursday following two key developments in the company's journey toward quite an audacious dream of launching electric air taxi services. The company recenly got FAA approval, which gives Joby control over the content and rigor of a Part 141 certificate for its flight academy, enabling the company to provide full-range pilot training for current and future operations. In a further development, Joby has secured approval from the FAA on its Part 5 air operation voluntary Safety Management System (SMS) for its commercial air taxi business.
FAA certifications are integral to Joby's efforts to scale up its air taxi business, as described in the six of 2024 material. For more information, Bonny Simi, the President of Operations at Joby, affirmed the company's intention to create effective training programs and a robust safety culture. The Flight Academy will have programs for private pilots and certified flight instructors. It would prepare students for future employment with Joby or other emerging urban air taxi services competitors.
Joby's approach to safety and pilot training has been praised. It completes the necessary FAA paperwork before the deadline, which is great for business and makes Joby stand out in the electric air mobility sector. The company is believed to continue growing as it gets closer to releasing its air taxi service.
