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Virgin Atlantic to become exclusive UK airline partnerJoby Aviation (NYSE:JOBY) shares gained 4% on Wednesday after the electric aircraft developer announced a long-term partnership with Virgin Atlantic to introduce commercial air taxi services across the United Kingdom. The agreement, unveiled during the Farnborough International Airshow, names Virgin Atlantic as Joby’s exclusive airline partner for UK air taxi operations.

Joby Aviation, Inc. stock rose Tuesday after the company and Toyota Motor Corporation formed a joint venture to support commercial production and scale-up of Joby’s electric air taxi aircraft. This builds upon a deep, multi-year collaboration and follows Toyota’s massive...