News Summary

• Joby Aviation is expanding its footprint in New York City and other major urban centers globally with the $125 million acquisition of one of its competitors’ subsidiaries.
• The Santa Cruz, California-based firm agreed Monday to buy Blade Air Mobility’s passenger business.
• Joby is in a better position to begin rolling out its own commercial flights next year and eventually make commuting like “The Jetsons” in the vertical-takeoff aircraft a feature of everyday life.
• As of June, the electric air taxi firm reached 80% compliance in the final stage of its certification process with the Federal Aviation Administration.