Joby completes first eVTOL flight between two US airports

SANTA CRUZ - Joby Aviation, Inc. (NYSE:JOBY), an emerging air mobility company with a market capitalization of $14.87 billion and impressive 233% return over the past year, has successfully conducted the first piloted electric vertical takeoff and landing (eVTOL) air taxi flight between two public airports in the United States, the company announced Friday. According to InvestingPro analysis, Joby maintains a strong liquidity position with more cash than debt on its balance sheet.

The aircraft flew from Marina Municipal Airport (OAR) to Monterey Regional Airport (MRY) in California, covering approximately 10 nautical miles in about 12 minutes, which included a 5-minute hold pattern for air traffic spacing.

During the flight, Joby’s aircraft demonstrated vertical takeoff, transition to wingborne flight, integration into FAA-controlled airspace, and vertical landing. The company’s aircraft successfully sequenced with other aircraft at Monterey Airport, including accommodating an arriving airliner by entering a holding pattern.

"Successfully flying from Marina to Monterey showcased operations of our aircraft integrated in the broader transportation network," said Didier Papadopoulos, President of Aircraft OEM at Joby, according to the press release.

The flight represents a significant step in Joby’s certification process, as the Federal Aviation Administration requires aircraft to demonstrate they can operate in shared airspace by flying between multiple airports.

Joby is currently in the final assembly stage of its first aircraft intended for Type Inspection Authorization flight testing, with plans to begin testing with FAA pilots early next year. Following certification, the company aims to launch commercial service in Los Angeles and New York City.

The company has conducted over 40,000 miles of flight testing across its fleet. This latest achievement follows Joby’s planned acquisition of Blade Air Mobility’s passenger business.

The information in this article is based on a company press release.

In other recent news, Joby Aviation reported a significant earnings miss for the second quarter of 2025. The company posted an earnings per share (EPS) of -$0.41, falling short of the forecasted -$0.19. Additionally, revenue was reported at $20,000, which was well below the expected $1.57 million. Despite these financial setbacks, Needham has raised its price target for Joby Aviation to $22.00 from $10.00, maintaining a Buy rating. This decision was influenced by the company’s growing technical credibility, particularly highlighted by successful piloted flight demonstrations. These developments are part of a series of positive headlines for Joby Aviation, which aim to address skepticism in the eVTOL aircraft sector.

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