financetom
Business
financetom
/
Business
/
FAA finalizes pilot training, certification rules for air taxis
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
FAA finalizes pilot training, certification rules for air taxis
Oct 22, 2024 12:34 PM

(Reuters) - The Federal Aviation Administration said on Tuesday it was finalizing comprehensive training and pilot certification rules for flying air taxis, addressing a key hurdle to the deployment of electric vertical takeoff and landing aircraft.

The White House cleared the FAA's final rules on Friday that were first proposed in June 2023. FAA Administrator Mike Whitaker confirmed the final rule at a conference in Las Vegas on Tuesday. "That is light speed for rulemaking," Whitaker said. "This is a new type, a new category of aircraft. ..This rule will create an operating environment so these companies can figure out how to train pilots, they can figure out how to operate."

Low-altitude urban aircraft known as eVTOLs have drawn intense global interest, with numerous companies going public like Joby Aviation ( JOBY ) and Archer Aviation ( ACHR ).

Whitaker said the rule is designed to be very flexible. The regulation has "a performance-based approach, so you can look at fuel reserves and other things with this new technology, account for safety," he said.

Airlines and other companies are looking at developing transport services using battery-powered aircraft that can take off and land vertically to ferry travelers to airports or for short city trips, allowing them to beat traffic.

Former acting FAA Administrator Billy Nolen, who is chief safety officer at Archer, said the announcement is a big milestone for the deployment of flying air taxis. "Now we've got a roadmap," he said.

The FAA said previously that air taxi operations will begin at a low rate, similar to helicopters, and using existing routes and infrastructure such as helipads and vertiports.

Under the FAA's 2023 proposal, pilots working for eVTOL manufacturers could serve as the initial cadre of flight instructors, who would then train instructors at flight schools and carriers. Alternate eligibility criteria would enable some pilots to meet flight-time experience requirements faster.

Delta Air Lines invested $60 million in Joby in a partnership aiming to offer passengers air taxi transport to and from airports in New York and Los Angeles within a few years. Earlier this month, Toyota invested $500 million in Joby.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Apparel retailer LightInTheBox Q3 net income jumps, revenue drops on margin focus
Apparel retailer LightInTheBox Q3 net income jumps, revenue drops on margin focus
Nov 12, 2025
Overview * LightInTheBox ( LITB ) Q3 net income rises to $2.8 mln from $0.3 mln last year * Company Q3 revenue declines 3% yr/yr, reflecting focus on margin preservation * Gross margin improves to 66.9% from 61.1% last year, driven by high-margin products Outlook * LightInTheBox ( LITB ) expects overall revenue growth in 2026 * Company plans broader...
Corbus Pharma Q3 net loss widens to $23.3 mln
Corbus Pharma Q3 net loss widens to $23.3 mln
Nov 12, 2025
Overview * Corbus Pharmaceuticals ( CRBP ) Q3 net loss widens to $23.3 mln, driven by clinical development costs * Company completed $75 mln public offering, extending cash runway into 2028 * CRB-701 clinical data shows promising ORR in HNSCC, cervical, and bladder cancers Outlook * Company plans to meet FDA in Q1 2026 for CRB-701 data review * Corbus...
Coya Therapeutics' Q3 net loss narrows
Coya Therapeutics' Q3 net loss narrows
Nov 12, 2025
Overview * Coya Therapeutics ( COYA ) Q3 net loss narrows to $2.1 mln from $4.0 mln last year * Company reports $3.6 mln collaboration revenue due to IND approval milestone * Coya completes $23 mln public offering, extending cash runway into 2H 2027 Outlook * Company expects to receive $4.2 mln milestone payment upon first patient dosing in ALS...
Cypherpunk Technologies' Q3 net loss narrows
Cypherpunk Technologies' Q3 net loss narrows
Nov 12, 2025
Overview * Cypherpunk Technologies reports Q3 net loss of $3.3 mln, down from $18.2 mln last year * Company acquires 203,775 ZEC for $50 mln as part of digital asset strategy * Closed $58.88 mln private placement led by Winklevoss Capital for digital asset strategy Outlook * Company did not provide specific financial guidance for future quarters or year Result...
Copyright 2023-2026 - www.financetom.com All Rights Reserved