Up, Up & Away

Thanks for clicking into Go Above Traffic.

Autumn is in full swing and there is a lot going on in the eVTOL space this week.

Let’s jump into it!

What you need to know in eVTOLs this week

The FAA

The big news this week is coming from the government, not the private sector.

The FAA signed new rules covering pilot training and operation of air taxis.

The Special Federal Aviation Regulation (SFAR) establishes requirements for the safe and efficient integration of aircraft into the nation’s aviation system.

It’s a pretty significant step as it lays the groundwork necessary for eVTOL companies to launch commercial passenger service in the U.S. (Once the company has received type certification of its aircraft).

Here is what some of the main players had to say:

FAA Administrator Mike Whitaker

“It’s here today, It is now a final rule. For the last 80 years, we've had two types [of aircraft], rotor and fixed wing,” he said. “We now have a third type…and this rule will create an operating environment so these companies can figure out how to train pilots. They can figure out how to operate.”

Joby 

“The regulation published today will ensure the U.S. continues to play a global leadership role in the development and adoption of clean flight… Delivering ahead of schedule is a testament to the dedication, coordination and hard work of the rulemaking team.”

Archer

“We applaud the FAA on the release of the SFAR ahead of schedule as it represents a tremendous milestone for our country and the eVTOL industry. Now, Archer has a clear roadmap to pioneer eVTOL here in the U.S. Our team is full speed ahead in our ongoing partnership with the FAA as we work towards commercialization as soon as possible.”

Beta Technologies

“Both the FAA and EASA have been working tirelessly on harmonization to ensure the best path forward for the industry, both in their regions and on the whole. (The company) considers the recent update a big step toward a mature, harmonized regulatory framework.”

In Other News Quick Hits of News:

Lilium: They’re still on the brink if insolvency: At its height, Lilium was worth as much as $3.3 billion. Its shares have tanked to less than 50 cents.

Vertical Aerospace: Investment firm Mudrick Capital Management, just bought over 10% of Vertical Aerospace. They specialize in “distressed credit and equity investments, often involving complex, misunderstood, and underfollowed securities” so not sure if that’s a great sign for Vertical.

Supernal: They announced a partnership with Blade (the helicopter taxi operator). I guess blade went with “if you can beat ‘em, join ‘em.” The partnership will explore opportunities to develop AAM networks and fleet operations.

The Markets

Or “The Casino” if you prefer the Wall Street Bets mentality…

Joby is the only thing keeping the lights on this week.

Other than that, its red, red, and more red across the board.

Lilium is a financial dumpster fire.

New Horizon is the garbage fire next to the dumpster fire.

Speaking strictly in terms of their finances of course. I am sure there are smart people building a great product at both companies.

I am sure executives at both places are praying to whatever god they believe in for a turnaround.

The $100K Life Savings Bet

"I always tell people, if you want to be in business, make sure you're solving a problem, not just making money."

- Shaquille O'Neal 

Not enough people know Shaq invested in Google pre-IPO.

That’s much more impressive than him owning a bunch of Five Guys burger joints and sitting on the Board of Directors at Papa John’s Pizza.

Definitely more impressive than being the face Gold Bond, Icy Hot at some low budget insurance company.

Given his business success, we must ask ourselves - Is Joby solving a problem?

In my humble opinion, the answer is a resounding ‘yes’.

And not just a small problem. Ever heard of a little thing called traffic? It’s the cancer of society. And it’s getting worse.

Solve that, even at a small scale, and you could have a $100 Billion company.

So are we in the money?!

We are in the money!

Up $17K and some change at the moment.

We’ve been holding steady around this price point since the FAA news mentioned earlier.

No telling if this is the new base line. It could easily drop down a bit before the real push begins next year.

But for now, we’ll enjoy the positive numbers and admire the green while we wait.

Onwards and upwards.

Lighten Up

Final Question

What’s the best season for travel and why?

— best reply gets a shoutout next week.

Best Answer From Last Week

I asked, “If you could have one cold beverage waiting for you on every eVTOL flight, what are you choosing?”

Best replies came from multiple people:

“You forgot to change the question”

“Same question as last week.”

“Who is your editor? Fire them because they forgot to point out you asked the same question two weeks in a row.”

Thanks guys, good to know you’re there to point out my errors in such constructive ways.

Thanks for reading and let us know what you want to see more of next week. We read every single reply.

Stay above.

— The Above Traffic Team