Commercial, Distributed Energy Resources, Industrial - October 12, 2022
Delta Air Lines Invests in Electric, Vertical Takeoff Aircraft
Delta Air Lines will embark on a multi-year, multi-market commercial and operational partnership with Joby Aviation, operator of all-electric, vertical takeoff and landing (eVTOL) aircraft.
Delta will make an upfront equity investment in Joby of $60 million, with total investment of up to $200 million if further milestones are achieved.
The initial launch will target New York and Los Angeles, building on years of Delta investments in those cities. The partnership will be mutually exclusive across the U.S. and U.K. for five years following commercial launch with the potential to extend that period.
“Delta always looks forward and embraces opportunities to lead the future, and we’ve found in Joby a partner that shares our pioneering spirit and commitment to delivering innovative, seamless experiences that are better for our customers, their journeys, and our world,” said Delta CEO Ed Bastian in a statement. “This is a groundbreaking opportunity for Delta to deliver a time-saving, uniquely premium home-to-airport solution for customers in key markets we’ve been investing and innovating in for many years.”
Joby’s aircraft is designed to fly fast, quiet and sustainable trips in and around cities. The aircraft has flown more than 1,000 test flights, demonstrating its range, speed, altitude and low noise profile. The company was the first eVTOL company to be granted a G-1 (Stage 4) Certification Basis for its aircraft by the FAA and recently received its Part 135 Air Carrier Certification.