Type Inspection Authorization is considered the final phase of aircraft certification ahead of commercial service Tests were completed using an FAA-conforming flight deck in a Joby simulator Company targets 2025 to start TIA flight testing with first FAA-conforming aircraft, currently being built SANTA CRUZ, Calif. / Dec 20, 2024 / Business Wire / Joby Aviation, Inc. (NYSE:JOBY), a company developing electric... Read more
LONDON & NEW YORK / Dec 20, 2024 / Business Wire / Vertical Aerospace Ltd. (“Vertical” or the “Company”) (NYSE: EVTL; EVTLW), a global aerospace and technology company that is pioneering zero emission aviation, today announces its financial results for the third quarter ended September 30, 2024. The third quarter 2024 financial results filing can be found on the Company’s investor relations website. Stuart... Read more
Earlier this week Archer received the certificate of occupancy for its ~400,000 square foot aircraft manufacturing facility—referred to as ARC—in Covington, GA and held a commemorative ribbon cutting ceremony Tooling load-in is already underway ahead of the planned start of initial production beginning in early 2025, with the goal being to ramp... Read more
Mr. Anderman previously served as General Counsel of SpaceX and COO/General Counsel of Lucasfilm Ltd. Surf Air Mobility Inc. (NYSE: SRFM) (“the Company”,“Surf Air”), a leading regional air mobility platform, announced the appointment of David Anderman to the Company’s board of directors effective December 17, 2024. Mr. Anderman served as Chief Legal Officer of Surf Air from June 2023 to May 2024. Mr. Anderman... Read more
SANTA CRUZ, Calif. / Dec 17, 2024 / Business Wire / Joby Aviation, Inc. (NYSE:JOBY), a company developing electric air taxis for commercial passenger service, today announced it has completed a landmark series of major aerostructure tests for certification credit with the Federal Aviation Administration (“FAA”). Joby has successfully completed static load... Read more
SANTA CRUZ, Calif. & GOHEUNG, South Korea / Dec 13, 2024 / Business Wire / Joby Aviation, Inc. (NYSE:JOBY), a company developing electric air taxis for commercial passenger service, today announced it has successfully completed a series of flight tests in Korea as part of the K-UAM Grand Challenge. Joby is the first electric air taxi company to complete flights as part of the program, which was launched in 2023... Read more
Anduril Industries Inc. (“Anduril”) and Archer Aviation Inc. (“Archer”) announced today that they have entered into an exclusive agreement to jointly develop a next-generation aircraft for defense applications. The companies’ first product from this partnership is planned to be a hybrid-propulsion, vertical-take-off-and landing (“VTOL”) aircraft that will target a potential program of record from the United States... Read more
Joby service to be integrated into Jetex’s network of flagship private terminals Joby charging stations to be installed at Jetex sites across Middle East Partnership lays the groundwork for a global rollout of sustainable air taxi infrastructure SANTA CRUZ, Calif. & DUBAI, United Arab Emirates / Dec 10, 2024 / Business Wire / Joby Aviation, Inc.... Read more
Ms. White has served as Surf Air Mobility’s Interim CEO & COO since May 2024, and had previously served as the Company’s CFO. Surf Air Mobility Inc. (NYSE: SRFM) (“the Company”, “Surf Air”), a leading regional air mobility platform, announced today it has appointed Deanna White to the position of Chief Executive Officer & Chief Operating Officer, after having served as the Company’s Interim CEO & COO... Read more
The partnership brings together key entities across the aviation sector in Abu Dhabi, with Archer Aviation Inc. (‘Archer’) serving as the primary eVTOL aircraft manufacturer for the Emirate’s planned electric air taxi operations Agreement positions Archer as the first in Abu Dhabi to establish manufacturing capabilities Abu Dhabi Investment Office (ADIO) to facilitate the safe launch of commercial eVTOL... Read more
Surf Air Mobility Inc. (NYSE: SRFM) (“Surf Air”), a leading regional air mobility platform, announced today it has taken delivery of four Cessna Grand Caravan EX turboprop aircraft from Textron Aviation. These four aircraft are the first deliveries of Surf Air’s previously announced fleet order with Textron Aviation. Surf Air is financing two of these aircraft through operating leases with ITC-AeroLeasing, Inc., an... Read more
Flight Academy will help to establish a pipeline of qualified pilots in advance of commercial operations Joby was also accepted into the FAA Part 5 Voluntary Safety Management System (SMS) for Air Operations Company completes two requirements to launch commercial operations SANTA CRUZ, Calif. / Dec 03, 2024 / Business Wire / Joby Aviation, Inc. (NYSE:JOBY), a company developing electric air taxis for... Read more
Vertical Aerospace secures agreement under which Mudrick Capital will commit up to $50 million in the next equity round, promoting financial stability. Transaction is expected to add approximately $180 million to Vertical’s balance sheet, including through the conversion of approximately $130 million of debt into equity, significantly reducing Vertical’s debt. The conversion price of the remaining convertible... Read more
Surf Air Mobility Inc. (NYSE: SRFM) (“the Company”,“Surf Air”), a leading regional air mobility platform, announced last week its four-phase Transformation Plan and a $50 million term loan that positions the Company to achieve profitability in its airline operations. Today, the Company is announcing that it has posted details about its Transformation Plan and a new investor presentation on the Events &... Read more
DENVER, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Inspirato Incorporated (“Inspirato” or the “Company”) (NASDAQ: ISPO), the premier members-only luxury vacation club, announced a strategic partnership with BLADE Urban Air Mobility (“BLADE”), a pioneering leader in short-distance aviation. This collaboration provides Inspirato members with access to BLADE’s helicopter services, bringing them closer to Inspirato’s luxury... Read more
Record-High Quarterly Revenues, Up 347.8% YoY Achieved Quarterly Adjusted Operating Income2 (non-GAAP) and the Second Consecutive Quarter of Adjusted Net Income3 (non-GAAP) Maintained Positive Operating Cash Flow for the Fourth Consecutive Quarter Over US$22 Million Strategic PIPE Investment to Further Strengthen Liquidity Significant eVTOL Sales and Operational Progress in Pioneering Chinese Cities New... Read more
GUANGZHOU, China, Nov. 15, 2024 (GLOBE NEWSWIRE) -- EHang Holdings Limited (“EHang” or the “Company”) (Nasdaq: EH), the world’s leading Urban Air Mobility (“UAM”) technology platform company, today announced that it has signed a cooperation framework agreement (“Agreement”) with Zhejiang Sunriver Culture and Tourism Co., Ltd. (“Sunriver”, 600576.SH), a China A-share listed company, to explore an industrial model... Read more
Company Receives Four Year Term Loan from Comvest Partners, a Multi-Billion-Dollar Investment Management Firm At SOFR +5%, Term Loan Lowers Company’s Cost of Capital and Minimizes Dilution Robust Cash Position Enables New Management Team to Advance Four Phase Transformation Plan LOS ANGELES / Nov 14, 2024 / Business Wire / Surf Air Mobility Inc. (NYSE:... Read more
$50 Million Term Loan Secured to Fund Transformation Plan and Path to Profitability Revenue of $28.4 Million as Compared with Revenue of $28.9 Million on a Pro Forma Basis in the Prior Year, Exceeding Expectations of $25 - $28 Million Adjusted EBITDA Loss of $8.9 Million, Flat as Compared to Prior Year on a Pro Forma Basis, Exceeding Expectations of a Loss of $10 - $13 Million LOS ANGELES / Nov 14, 2024 /... Read more
GUANGZHOU, China, Nov. 13, 2024 (GLOBE NEWSWIRE) -- EHang Holdings Limited (“EHang” or the “Company”) (Nasdaq: EH), the world’s leading Urban Air Mobility (“UAM”) technology platform company, today announced a significant breakthrough in the development of high-energy solid-state battery technology, in collaboration with the Low-Altitude Economy Battery Research Institute of the Hefei International Advanced... Read more
GUANGZHOU, China, Nov. 13, 2024 (GLOBE NEWSWIRE) -- EHang Holdings Limited (“EHang” or the “Company”) (Nasdaq: EH), the world’s leading Urban Air Mobility (“UAM”) technology platform company, today announced the launch of a UAM Hub (the “Hub”) at Luogang Central Park in Hefei, Anhui Province, marking the second vertiport established in Luogang Park following the opening of the Urban Air Mobility Operations Center... Read more
SANTA CRUZ, Calif. / Nov 12, 2024 / Business Wire / Joby Aviation, Inc. (NYSE:JOBY), a company developing electric air taxis for commercial passenger service, today announced that construction has begun on the first vertiport in its planned Dubai air taxi network. Situated at Dubai International Airport (“DXB”), the vertiport is being constructed by Joby partners Dubai Road and Transport Authority (“RTA”) and... Read more
Vertical’s VX4 prototype begins untethered, piloted thrustborne testing following expansion of Permit to Fly from the UK Civil Aviation Authority. Phase 2 of testing includes vertical take-off and landing and low-speed flight manoeuvres. The VX4 prototype has completed nearly 90 test points, measuring 35,000 flight and system parameters, producing several thousand gigabytes of data. LONDON & NEW YORK / Nov... Read more
Operating Cash Flow increased by $4.3 million to $6.4 million in Q3 2024; Free Cash Flow, Before Aircraft Acquisitions, increased by $2.4 million to $3.7 million in Q3 2024(1) Medical Segment Adjusted EBITDA improved 15.1% in Q3 2024 versus the prior year Passenger Segment Adjusted EBITDA increased by $2.8 million and we achieved trailing twelve month Segment Adjusted EBITDA profitability in Q3 2024, well ahead... Read more
GUANGZHOU, China, Nov. 11, 2024 (GLOBE NEWSWIRE) -- EHang Holdings Limited (“EHang” or the “Company”) (Nasdaq: EH), the world’s leading Urban Air Mobility (“UAM”) technology platform company, today announced a long-term strategic partnership and technology development cooperation with Zhuhai Enpower Electric Co., Ltd. (“Enpower”, SZ300681), a pioneer in new energy vehicle (“NEV”) power systems, to co-develop... Read more
GUANGZHOU, China, Nov. 08, 2024 (GLOBE NEWSWIRE) -- EHang Holdings Limited (“EHang” or the “Company”) (Nasdaq: EH), the world’s leading Urban Air Mobility (“UAM”) technology platform company, today announced that its EH216-S pilotless electric vertical takeoff and landing (“eVTOL”) aircraft completed debut passenger flights in Thailand at the renowned Queen Sirikit National Convention Center in central Bangkok. The... Read more
SANTA CLARA, Calif. / Nov 07, 2024 / Business Wire / Archer Aviation Inc. (NYSE: ACHR) and Soracle Corporation (Soracle), a joint venture newly established by Japan Airlines and Sumitomo Corporation, signed agreements focused on bringing advanced air mobility (AAM) services to Japan. Soracle plans to launch its AAM operation in Japan using Archer’s Midnight... Read more
Manufacturing facility set for completion in the coming weeks, focus going into 2025 is on building piloted, type-design aircraft for use in testing and early commercial deployment Nearing completion of Phase 3 of the FAA’s type certification process while continuing to rapidly advance Phase 4, the final phase to secure type certification Established a consortium led by the Abu Dhabi Investment Office (ADIO) to... Read more
SANTA CRUZ, Calif. / Nov 06, 2024 / Business Wire / Joby Aviation, Inc. (NYSE:JOBY), a next-generation aviation company, today issued its Third Quarter 2024 Shareholder Letter detailing the Company’s operational and financial results for the period ending September 30, 2024. The company will host a live audio webcast of its conference call to discuss the results at 2:00 p.m. PT (5:00 p.m. ET) today. Third Quarter... Read more
Flight took place at Toyota’s facility in Shizuoka Marks Joby’s first international exhibition flight Follows announcement that Toyota will invest a further $500 million to support certification and commercial production of Joby’s aircraft SUSONO, Japan & SANTA CRUZ, Calif. / Nov 04, 2024 / Business Wire / Toyota Motor Corporation (Toyota; NYSE:... Read more
MELBOURNE, Fla., Nov. 4, 2024 /PRNewswire/ -- Eve Holding, Inc. ("Eve") (NYSE: EVEX and EVEXW) reports its Third Quarter 2024 Earnings Results. Financial highlights Eve Air Mobility is an aerospace company dedicated to the development of an eVTOL (electric Vertical Takeoff and Landing) aircraft and the Urban Air Mobility (UAM) ecosystem that includes aircraft development, Customer Services and Vector, an... Read more
GUANGZHOU, China, Oct. 30, 2024 (GLOBE NEWSWIRE) -- EHang Holdings Limited (“EHang” or the “Company”) (Nasdaq: EH), the world’s leading Urban Air Mobility (“UAM”) technology platform company, today announced it has entered into a strategic partnership with the Civil Aviation Flight University of China (the “CAFUC”). Building upon the CAFUC’s extensive expertise in civil aviation education, research, and talent... Read more
SANTA CRUZ, Calif. / Oct 24, 2024 / Business Wire / Joby Aviation, Inc. (NYSE: JOBY), a company developing electric air taxis for commercial passenger service, announced today that it has launched an underwritten public offering to sell up to $200.0 million of its shares of common stock. All of the shares of common stock are being offered by Joby. In addition, Joby intends to grant the underwriters a 30-day option to... Read more
Two companies combining their flight data and analytics platforms to inform eVTOL flight safety standards Lilium to deploy GE technology to all Lilium Jet operators, starting with Lilium’s own flight test campaign GE Aerospace’s Event Measurement System (EMS) is used globally by 60 airlines and more than 500 business jet operators LAS VEGAS, Oct. 23, 2024 (GLOBE NEWSWIRE) -- With eVTOLs on the cusp of taking... Read more
SANTA CRUZ, Calif. / Oct 22, 2024 / Business Wire / Joby Aviation, Inc. (NYSE:JOBY), a company developing electric air taxis for commercial passenger service, today welcomed the release of new rules designed to enable the operation of Joby’s revolutionary aircraft in the United States. Published by the Federal Aviation Administration (“FAA”), the Special Federal Aviation Regulation (“SFAR”) establishes requirements... Read more
Investment to be made in two equal tranches, with the first targeted to close later this year and the second in 2025 Funds will support certification and commercial production of Joby's electric air taxi Investment terms to include plans to establish a manufacturing alliance for the first phase of commercialization Will bring total investment from Toyota... Read more
Systems power-on paves the way for start of Lilium Jet ground testing campaign The first Lilium Jet – MSN 1 – will be used to confirm safety for first piloted flight planned for early 2025 MSN 2, the first aircraft that Lilium will fly with a pilot on board, is now in final assembly MUNICH, Oct. 01, 2024 (GLOBE NEWSWIRE) -- Lilium N.V. (NASDAQ:LILM), a leading electric aircraft manufacturer and pioneer in... Read more
Houston-based aircraft brokerage EMCJET will showcase the Lilium Jet for the very first time in the U.S. at Galaxy FBO Galaxy FBO is partnering with Lilium to ensure accessibility for the Lilium Jet at their Houston-area facilities – Houston Hobby Airport, Conroe North Houston Regional Airport, and The Woodlands Heliport Lilium is collaborating with The Greater Houston Partnership to host a discussion with... Read more
GUANGZHOU, China, Sept. 24, 2024 (GLOBE NEWSWIRE) -- EHang Holdings Limited (“EHang” or the “Company”) (Nasdaq: EH), the world’s leading Urban Air Mobility (“UAM”) technology platform company, today announced a major milestone with the successful completion of the first flight of its EH216-S pilotless eVTOL in Brazil. EH216-S completed the first flight in... Read more
LONDON & NEW YORK / Sep 17, 2024 / Business Wire / Vertical Aerospace Ltd. (“Vertical” or the "Company") (NYSE: EVTL; EVTLW), a global aerospace and technology company that is pioneering zero emission aviation, announces its financial results for the first half of the year ended June 30, 2024. Vertical has also issued a shareholder letter in conjunction with the filing of its first half-year results, which is... Read more
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