Skip to content

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Uber unveils air taxi service at Elevate summit

The rideshare corporation is branching out into air travel.

Uber logo after launch of Uber air taxi Source: Bloomberg

Uber has revealed plans for an air taxi service. The rideshare company announced the new Uber Air venture at its Elevate conference.

Uber air taxi details

Uber is partnering with Jaunt Air Mobility to implement a flying taxi service that the corporation hopes to debut on a trial basis next year. Uber Air will officially launch in 2023 in Dallas, Texas, Los Angeles, California, and Melbourne, Australia.

The eVTOL (electric vehicle takeoff and landing) aircraft can take up to four passengers from the company’s ‘skyports’ to their destinations for $5 a mile. Uber's engineering director of aviation, Mark Moore, spoke about the Jaunt partnership.

‘Jaunt Air Mobility has assembled a highly talented team of experienced engineers with a long history of designing and certifying eVTOL vehicles,’ said Moore in a statement.

‘Martin Peryea, Jaunt’s chief technology officer, has led many helicopter development programs as a chief engineer and brings invaluable insights to developing low noise, reliable, and safe aircraft. I look forward to seeing what our teams accomplish together as we aim to accelerate Jaunt’s commercialisation efforts,’ added Moore.

Uber said that it’s also working with Boeing and Embraer manufacturers to create the air taxis.

Will Uber Air hurt or help air travel?

While Uber says air taxis are the future of transportation, there is scepticism about how the new mode of travel would affect cities. Chris De Gruyter, research fellow at the Centre for Urban Research at Royal Melbourne Institute of Technology, believes that Uber Air vehicles could add to Melbourne’s air congestion.

‘These vehicles are very low capacity – similar to what a car could carry – while there are also questions about whether these vehicles will create visual clutter in the sky and how environmentally-friendly they are,’ said De Gruyter.

The Uber Air taxis still have to get approval from the US Federal Aviation Administration (FAA) before they can take flight.

This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

Seize a share opportunity today

Go long or short on thousands of international stocks.

  • Increase your market exposure with leverage
  • Get spreads from just 0.1% on major global shares
  • Trade CFDs straight into order books with direct market access

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Monday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.