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Joby Aviation, Inc. JOBY stock rose during Wednesday’s premarket session after the company finalized a multi-year agreement with Virgin Atlantic to launch electric air taxi services in the U.K.
Exclusive U.K. Partnership
Virgin Atlantic will serve as Joby’s exclusive airline partner in the U.K. It will integrate the service into its website and mobile app for bookings alongside long-haul flights.
Joby plans to launch around London Heathrow and Manchester Airport before expanding to other U.K. cities.
Proposed routes include Heathrow to Central London in as little as eight minutes and Manchester Airport to Leeds in about 15 minutes.
Joby will operate the aircraft, manage routes and seek U.K. regulatory approvals. Virgin Atlantic will support airport integration, customer acquisition and infrastructure development.
Expansion Potential
The agreement formalizes the partnership announced in 2025 and builds on Joby’s existing arrangement with Delta Air Lines Inc DAL. Delta owns a 49% stake in Virgin Atlantic.
“This agreement marks an exciting next chapter in our partnership with Joby and a significant step towards bringing electric air taxi services to the UK,” Virgin Atlantic CEO Corneel Koster said.
Joby CEO JoeBen Bevirt said the partnership could create significant opportunities as the company expands into major UK cities.
Technical Analysis: Trend, Support And Resistance
Joby Aviation shares remain under pressure. The stock is trading at $7.96, about 4.9% below its 20-day simple moving average of $8.25.
The shares also trade well below the 50-day SMA of $9.57 and the 200-day SMA of $11.82. That suggests the broader trend remains weak.
Meanwhile, the moving average convergence divergence (MACD) sits below its signal line. This points to fading bullish momentum. Unless the stock climbs back above the 20-day moving average, selling pressure could continue.
The first resistance level is $8.25, which aligns with the 20-day SMA. On the downside, key support sits at $6.89, the stock’s 52-week low. A move below that level could invite additional selling, while holding above it may attract buyers.
JOBY Earnings Preview
Joby Aviation is set to report earnings on August 5, 2026 (estimated).
- EPS Estimate: Loss of 23 cents (Up from Loss of 41 cents)
- Revenue Estimate: $29.07 million (Up from $15,000)
Analyst Consensus & Recent Actions: The stock carries a Hold rating with an average price forecast of $13.50. Recent analyst moves include:
- Canaccord Genuity: Hold (Lowers forecast to $11.50) (May 7)
- Morgan Stanley: Equal-Weight (Lowers forecast to $13.00) (May 6)
- Needham: Buy (Maintains forecast to $18.00) (May 6)
JOBY Price Action
JOBY Stock Price Activity: Joby Aviation shares were up 3.92% at $7.96 during premarket trading on Wednesday, according to Benzinga Pro data.
Photo via Shutterstock
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This article Joby Signs Exclusive Virgin Atlantic Deal to Launch UK Electric Air Taxi Service originally appeared on Benzinga.com.
