Reuben Brothers Unveil Joby Vertiport at Century Plaza

Reuben Brothers and Joby Aviation (NYSE:JOBY) announced plans to build an air taxi vertiport at Park Elm Residences at Century Plaza, South Tower in Century City, Los Angeles.

Rhea-AI Summary

Reuben Brothers and Joby Aviation (NYSE:JOBY) announced plans to build an air taxi vertiport at Park Elm Residences at Century Plaza, South Tower in Century City, Los Angeles. The vertiport will use the building's existing helipad for operations and charging of Joby's all-electric eVTOL aircraft.

Joby is in the final stages of aircraft certification and recently completed piloted demonstration flights in the San Francisco Bay Area. The project includes a dedicated passenger lounge—Joby's first inside a residential building—and joint pursuit of required local, state, and federal approvals, with potential early operations under the White House-backed eVTOL Integration Pilot Program covering 12 states.

Positive

• Selected in eVTOL Integration Pilot Program for potential early operations in 12 states
• Completed piloted demonstration flights across the San Francisco Bay Area
• Planned vertiport at Century Plaza—first residential in Los Angeles with in-house air taxi
• Planned dedicated passenger lounge—Joby’s first inside a residential building
• Existing partnerships with Delta and Uber supporting market access

Negative

• Commercial aircraft certification is not yet complete
• Service launch contingent on local, state, and federal approvals

Argus Apr 23 session

-7.11% close to close Open Argus

Details

News Market Reaction – JOBY

On Apr 23, the day this news came out, JOBY closed 7.11% below the previous close.

Data tracked by StockTitan Argus for the Apr 23 session.

Market Context

On Apr 23, the day this news came out, the stock closed 7.1% below the previous close. A negative re...

Analysis

On Apr 23, the day this news came out, the stock closed 7.1% below the previous close. A negative reaction despite positive infrastructure news fits a recent pattern where upbeat milestones, such as FAA-conforming test flights and the eVTOL Integration Pilot Program win, coincided with next-day moves of -3.68% to -4.79%. The Century Plaza vertiport alliance reinforces Joby’s long-term network strategy, but past trading shows the stock often weakened after good news. Such behavior raises questions about profit-taking and valuation sensitivity as the company advances toward commercial service.

Key Figures

Current price: $9.14 Volume today: 22,681,858 shares 52-week range: $5.81 – $20.95 +3 more

Current price

$9.14

Pre-news trading level vs 200-day MA $13.66

Volume today

22,681,858 shares

Compared with 20-day average volume of 21,798,885

52-week range

$5.81 – $20.95

Price sits between 52-week low and high before this news

Flight duration

5 minutes

Promoted air taxi trip time vs drives exceeding two hours

States in eIPP

12 states

Potential early operations under eVTOL Integration Pilot Program

Existing lounges

9 passenger lounges

Blade division lounges in New York area and South of France

Historical Context

5 past events · Latest: Apr 22

5 events

1. Apr 22

   Earnings date notice

   24h Move

   +0.1%

   Company scheduled release and webcast for Q1 2026 financial results.

2. Apr 07

   Operations partnership

   24h Move

   -3.7%

   Partnership with Air Space Intelligence to prepare U.S. airspace for scaled eVTOL.

3. Mar 13

   Demo flight tour

   24h Move

   -0.4%

   Piloted electric air taxi flights across San Francisco Bay and Golden Gate area.

4. Mar 11

   Certification progress

   24h Move

   -4.8%

   First FAA-conforming aircraft began TIA flight testing toward type certification.

5. Mar 09

   Regulatory program win

   24h Move

   -1.6%

   Selection to begin early U.S. operations under the White House eVTOL program.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

vertiport, eVTOL, Integration Pilot Program

3 terms

vertiport technical

"an alliance with Joby Aviation (NYSE:JOBY) to establish an air taxi vertiport at Park Elm"

A vertiport is a designated landing and takeoff area for small, vertical-takeoff aircraft, such as air taxis or drones, often resembling a small airport or helipad but designed for vertical flights. It matters to investors because the development of vertiports signals growth in urban air mobility, which could transform transportation systems and create new business opportunities in crowded cities.

eVTOL technical

"Joby's all-electric, vertical take-off and landing ("eVTOL") aircraft, which is both quiet"

eVTOL stands for "electric vertical takeoff and landing" aircraft, which are small, electric-powered vehicles capable of taking off and landing vertically like a helicopter. They are designed to provide quick, on-demand transportation within cities or between locations, potentially transforming urban mobility. For investors, eVTOLs represent a growing segment of innovative transportation technology with potential for significant market impact and future growth.

Integration Pilot Program regulatory

"multiple winning applications under the White House-backed eVTOL Integration Pilot Program (eIPP)"

A integration pilot program is a limited, closely monitored trial that tests how a new system, product, process or partnership works when combined with existing operations before a full rollout. For investors, it signals that a company is de-risking change by validating technical fit, costs and performance on a small scale; successful pilots can point to smoother scaling and future revenue gains, while failures may expose integration risks and extra expenses. Think of it as rehearsing a complex group performance before the big show.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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LOS ANGELES, April 23, 2026 /PRNewswire/ -- Reuben Brothers today announced an alliance with Joby Aviation (NYSE:JOBY) to establish an air taxi vertiport at Park Elm Residences at Century Plaza, South Tower in Century City, Los Angeles. The vertiport will utilize the building's existing helipad to accommodate operations and charging for Joby's all-electric, vertical take-off and landing ("eVTOL") aircraft, which is both quiet and has zero operating emissions.

Joby is in the final stages of certifying its revolutionary aircraft for commercial operations and last month completed a set of piloted demonstration flights across the San Francisco Bay Area. With one of the world's most recognizable skylines as a backdrop, the company showcased its operational readiness, demonstrating that air taxis are not just a concept, but making rapid progress towards becoming a commercial reality.

"Park Elm Residences at Century Plaza is expected to become the first residential development in Los Angeles to offer an in-house air taxi service integrated into residents' lifestyles. Owners will be able to book a Joby air taxi on demand, for flights within the greater Los Angeles area, turning drives that can exceed two hours into flights as short as five minutes."

In addition to the vertiport, Joby plans to build a dedicated passenger lounge, drawing on its experience operating Blade lounges around the world. Blade, a division of Joby, and the leading urban air mobility company in the world, currently operates nine passenger lounges in the New York area and across the South of France. This newly planned lounge will be Joby's first in a residential building.

"At Park Elm Residences, we're redefining luxury living. Direct access to Joby air taxi service is a truly unique amenity that elevates the resident experience today and points to a future where expanded vertiport access across Los Angeles transforms everyday convenience," said Jordana Yechiel, Director of Residential Design for Reuben Brothers.

"Given its Century City location, Park Elm Residences at Century Plaza, South Tower is ideally positioned to anchor a broader Los Angeles vertiport network," said Rob Wiesenthal, CEO of Joby's Blade Air Mobility division. "We expect this network to completely reshape how residents move through the city, beginning with airport trips."

Joby and Reuben Brothers is jointly seeking all necessary local, state, and federal approvals required to launch the service. Joby will be responsible for the vertiport and lounge build-out, as well as operations, flight arrangements, and the passenger experience. Reuben Brothers will integrate Joby's air taxi service into the amenity offerings for all Park Elm residents.

Joby has partnered with Delta Air Lines and Uber and was recently selected as a partner in multiple winning applications under the White House-backed eVTOL Integration Pilot Program (eIPP). Through the program, Joby has the opportunity to begin early operations this year in 12 states, marking a major milestone for the U.S. air taxi industry with the potential to significantly accelerate Joby's path to commercial service.

About Park Elm Residences at Century Plaza
Park Elm Residences at Century Plaza is one of Los Angeles' only move-in-ready luxury residential developments, offering immediate access to an elevated, contemporary lifestyle in the heart of Century City. Designed by Pei Cobb Freed & Partners with interiors by Yabu Pushelberg, the 44-story towers feature expansive residences with floor-to-ceiling windows, glass-wrapped balconies, and sweeping city-to-ocean views. Residents enjoy a private, gated setting with five-star amenities, concierge services, and walkable access to world-class dining, wellness, retail, and more at the revitalized Century Plaza. 

About the Reuben Brothers
Reuben Brothers is a global leader in private equity, international real estate, hospitality, credit financing, sports and media. Our diverse portfolio includes a formidable collection of luxury hotels, racecourses, infrastructure and media assets, while our resource heritage is represented through shipping and logistics. Our extensive real estate holdings span the UK, Europe, the US and beyond, encompassing office, retail, hospitality and residential properties. From London to New York, we are proud to own some of the world's most famous landmarks and true icons of architecture.

As a global group rooted in entrepreneurship and family values, we operate with integrity and collaborate with partners that share our vision and commitment to excellence. For more than 20 years, we have also been making positive impact on the world we share through our dedicated philanthropic arm, The Reuben Foundation, which strives to advance healthcare and education worldwide.

For more information, please visit reubenfoundation.com

About Joby
Joby Aviation, Inc. (NYSE:JOBY) is a California-based transportation company developing an all-electric, vertical take-off and landing air taxi. Joby intends to both operate its fast, quiet, and convenient air taxi service in cities around the world and sell its aircraft to other operators and partners. To learn more, visit www.jobyaviation.com

Media Contact:
Brandman
ParkElm@brandmanagency.com 

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SOURCE Park Elm

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Reuben Brothers and JOBY announce on April 23, 2026 about Century Plaza?

They announced plans for an on-site air taxi vertiport at Park Elm Residences. According to the company, the vertiport will use the building's helipad and include a dedicated passenger lounge and charging for Joby eVTOL aircraft.

When could Joby (NYSE:JOBY) begin operating air taxi flights from the Century Plaza vertiport?

A launch date depends on aircraft certification and regulatory approvals. According to the company, Joby is in the final certification stages and is jointly seeking local, state, and federal approvals to begin operations.

Will the Century Plaza vertiport allow on-demand flights for residents of Park Elm Residences?

Yes—residents will be able to book Joby air taxis on demand for greater Los Angeles trips. According to the company, bookings aim to reduce multi-hour drives to flights of minutes within the region.

Does Joby already have operational experience relevant to the Century Plaza vertiport?

Joby has completed piloted demonstration flights and operates passenger lounges via Blade. According to the company, recent Bay Area demo flights and Blade lounge experience inform vertiport operations and passenger services.

What regulatory or partnership factors affect JOBY’s Century Plaza project?

Project progress depends on certification and permits plus existing airline and mobility partners. According to the company, Joby partners with Delta and Uber and was selected for the eVTOL Integration Pilot Program, which may enable early operations.