Joby Aviation (NYSE:JOBY) stock is experiencing an uptick after the electric vertical take-off and landing (eVTOL) company received a maintenance certificate from the Federal Aviation Administration (FAA). The Part 145 Repair Station Certificate allows Joby Aviation to perform select maintenance activities on aircraft, making it the first eVTOL maker to gain such a certificate.
Joby Aviation President of Operations Bonny Simi commented on the FAA news, stating, “Receiving our Part 145 certificate from the FAA is an important step towards developing the needed maintenance, repair and overhaul services to support Joby’s commercial flight operations, as well as establishing career pipelines for people who want to become eVTOL aircraft technicians.”
Investors are celebrating the news, with JOBY stock climbing 3% higher as of Thursday morning. Approximately 508,000 shares have been traded as investors buy up the stock on the news, compared to the company’s daily average trading volume of about 4.9 million shares.
Joby Aviation continues to make progress in its plans to create an air taxi service using its eVTOLs. The aircraft can carry a pilot and four passengers at speeds of up to 200 miles per hour, providing a quick urban transportation solution.
Let us know what you think, please share your thoughts in the comments below.
