{"id":14014,"date":"2024-05-21T23:30:23","date_gmt":"2024-05-22T04:30:23","guid":{"rendered":"http:\/\/planesintheair.com\/?p=14014"},"modified":"2024-05-21T23:30:23","modified_gmt":"2024-05-22T04:30:23","slug":"joby-to-partner-with-mukamalah-aviation","status":"publish","type":"post","link":"https:\/\/planesintheair.com\/?p=14014","title":{"rendered":"Joby to partner with Mukamalah Aviation"},"content":{"rendered":"

Image from Joby Aviation<\/strong><\/p>\n

Santa Cruz, CA, and Dhahran, Saudi Arabia, May 21, 2024 \u2014<\/strong> Joby Aviation, Inc. (NYSE: JOBY<\/a>)<\/strong>, a company developing electric air taxis for commercial passenger service, today announced it has signed a Memorandum of Understanding (MoU) with Mukamalah, a wholly owned subsidiary of Saudi Aramco (SR: 2223<\/a>)<\/strong>, the operator of the world\u2019s largest fleet of corporate aircraft, to introduce Joby\u2019s aircraft to the Kingdom of Saudi Arabia.<\/p>\n

The MoU, signed today between Joby and Mukamalah, contemplates the parties working together to engage with key aviation stakeholders, including The Saudi General Authority of Civil Aviation (GACA), to expedite Joby\u2019s entry into the Saudi Arabia market, leading to the direct purchase of Joby aircraft to be used in Mukamalah\u2019s operations.<\/p>\n

The direct sale of aircraft to business customers such as Mukamalah and government partners like the U.S. Department of Defense forms one pillar of Joby\u2019s commercialization strategy, alongside the direct operation of Joby aircraft in core markets such as the U.S. and the United Arab Emirates, and partnered operations in other markets.<\/p>\n

Forward-Looking Statements<\/strong><\/p>\n

This press release may contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.<\/p>\n