Joby Partners with Mukamalah Aviation

Joby Aviation, Inc. (NYSE:JOBY), 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, the operator of the world’s largest fleet of corporate aircraft, to introduce Joby’s aircraft to the Kingdom of Saudi Arabia.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240521221682/en/

Captain Khalid Al Natour, CEO of Mukamalah Aviation, signed a Memorandum of Understanding with Joby Founder and CEO JoeBen Bevirt at the Future Aviation Forum in Riyadh, Saudi Arabia. Joby Aviation Photo

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’s entry into the Saudi Arabia market, leading to the direct purchase of Joby aircraft to be used in Mukamalah’s operations.

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’s 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.

JoeBen Bevirt, founder and CEO, Joby Aviation, said: “Saudi Arabia presents a remarkable opportunity for our technology and the scope and scale of Mukamalah’s operations make them a natural partner for us.

“We’re looking forward to supporting Mukamalah as they introduce emissions-free aircraft to their fleet and we’re excited to explore wider opportunities across the region, in support of the Kingdom’s commitment to sustainability, which is a pillar of Vision 2030, and their overall goal of reaching net-zero emissions by 2060.”

Mukamalah operates 55 aircraft from different fleets, serving 13 airports throughout Saudi Arabia, nine of which are fully managed and operated by Mukamalah, along with more than 300 helipads, both on- and off-shore.

Captain Khalid Alnatour, CEO, Mukamalah, said: “As part of our ongoing commitment to achieving the Kingdom’s sustainability goal, we are proud to be working with Joby to explore introducing emissions-free aircraft to our fleet and to the Kingdom.

“Over the past years, we have already invested in a more sustainable future, including taking steps in Sustainable Aviation Fuel testing, supporting the development of hydrogen solutions in the aviation ecosystem, and supporting the Kingdom’s green initiatives by delivering sustainable aviation solutions.