Joby Aviation (NYSE:JOBY) shares gained as much as 4.6% in premarket trading on Monday after the eVTOL startup announced plans to launch air taxi services in the United Arab Emirates by early 2026.
The company signed a definitive agreement with Dubai’s Road and Transport Authority (RTA), securing exclusive right to operate air taxis in Dubai for six years. The agreement covers regulatory approach for early operations as well as support for entry and maturing of service. Joby (JOBY) targets initial operations to begin as early as 2025.
Additionally, Joby (JOBY) signed an agreement with Skyports, who will design, develop, and operate four initial vertiport sites across Dubai. Together, they have identified Dubai International Airport, Palm Jumeirah, Dubai Marina and Dubai Downtown as the launch locations for Dubai’s air taxi service.
To support the development of its operations in Dubai, Joby (JOBY) has established a local operating entity and intends to recruit locally for most of its operational team.
JoeBen Bevirt, founder and CEO, Joby Aviation, said: “It is an honor to partner with the government of Dubai to demonstrate the value of sustainable air travel to the world. We’re looking forward to delivering an incredible experience for residents and visitors to Dubai as early as 2025, and we’re excited to be laying the groundwork for the expansion of our service across the wider UAE.”
