Joby Aviation (NYSE:JOBY) stock is up on Thursday after the electric vertical take-off and landing (eVTOL) company received a maintenance certificate from the Federal Aviation Administration (FAA).
This Part 145 Repair Station Certificate from the FAA allows Joby Aviation to perform select maintenance activities on aircraft. This is a big win for the eVTOL and air taxi services company as it’s believed to be the first eVTOL maker to gain such a certificate.
Joby Aviation President of Operations Bonny Simi said the following about the FAA news:
“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.”
How This Affects JOBY Stock Today
JOBY stock investors are celebrating today’s news with the company’s shares climbing 3% higher as of Thursday morning. That comes with some 508,000 shares traded as investors buy up the stock on the news. For comparison, the company’s daily average trading volume is about 4.9 million shares.
Joby Aviation has continuously moved forward with plans to create an air taxi service utilizing its eVTOLs. Its aircraft can carry a pilot and four passengers at speeds of up to 200 miles per hour for quick urban transportation.
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
