Joby reports 2022 loss as it aims for FAA eVTOL approval

Joby Aviation has reported a net loss of almost $67 million after ending 2022 with $1.1bn in cash and short-term investments, including an up-front equity investment of $60 million by Delta Air Lines. The loss, which was $72 million lower than in 2021, stemmed mostly from “operating expenses”, Joby said, in particular its efforts in getting official certification for its electric vertical take-off and landing (eVTOL) aircraft,  a process it reported recently as having reached the second stage at the Federal Aviation Administration. Net cash for operating activities and purchases of property and equipment came to $291 million, with $84