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JOBY's Unit Completes Liquid H2-Powered Piloted Flights
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H2Fly, acquired by Joby Aviation (JOBY - Free Report) in 2021, created a buzz in the aviation space by achieving a milestone that no other company has accomplished so far. H2Fly announced that it has completed a series of liquid hydrogen-powered piloted flights of its four-seater HY4 demonstrator.
One of the flights lasted for more than three hours. Previously, H2Fly had completed flights powered by pressurized gaseous hydrogen.
The successful completion of these flights demonstrates the utility of employing cryogenically-stored liquid hydrogen instead of gaseous hydrogen. The usage leads to significantly lower tank weights and volume, which, in turn, leads to longer range.
The success of flights with liquid hydrogen is expected to increase the range of H2FLY’s HY4 demonstrator aircraft from 750 km to 1500 km. This is in-line with the achievement of the long-term goal of decarbonization of mid-to-long range aviation.
The achievement of this milestone implies the ending of Project HEAVEN, a European government-backed consortium led by H2FLY, on a happy note. The consortium was created to explore the use of cryogenic liquid hydrogen in planes. Following this achievement, JOBY’s wholly-owned subsidiary will now shift its focus on the path to commercialization.
Expressing delight on this accomplishment Joby Aviation’s founder and CEO, JoeBen Bevirt, said, “H2FLY are pioneers in their field, and we’re proud of them achieving this watershed moment in the use of liquid hydrogen to power aircraft."
Zacks Rank & Key Picks
Joby Aviation currently carries a Zacks Rank #4 (Sell).
Ryanair Holdings’ growth prospects are being supported by an upbeat in air-travel-demand scenario. An uptick in passenger volumes is leading the company to post impressive traffic numbers over the past few months.
Measures for expanding its fleet to cater to the rising travel demand are encouraging as well. Riding on the buoyant air-traffic scenario, RYAAY shares have gained 28.5% year to date. RYAAY surpassed the Zacks Consensus Estimate for earnings in each of the last four quarters by 21.4%, on average.
An uptrend with respect to e-commerce, even in the post-pandemic scenario, is a huge positive for Air Transport Services. It is the primary driver behind an uptick in demand for midsize air freighters.
Driven by the upbeat demand, ATSG delivered a record six converted freighters under lease in a month to its customers worldwide. The Zacks Consensus Estimate for ATSG’s current-year earnings has been revised 11.2% upward over the past 60 days.
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JOBY's Unit Completes Liquid H2-Powered Piloted Flights
H2Fly, acquired by Joby Aviation (JOBY - Free Report) in 2021, created a buzz in the aviation space by achieving a milestone that no other company has accomplished so far. H2Fly announced that it has completed a series of liquid hydrogen-powered piloted flights of its four-seater HY4 demonstrator.
One of the flights lasted for more than three hours. Previously, H2Fly had completed flights powered by pressurized gaseous hydrogen.
The successful completion of these flights demonstrates the utility of employing cryogenically-stored liquid hydrogen instead of gaseous hydrogen. The usage leads to significantly lower tank weights and volume, which, in turn, leads to longer range.
The success of flights with liquid hydrogen is expected to increase the range of H2FLY’s HY4 demonstrator aircraft from 750 km to 1500 km. This is in-line with the achievement of the long-term goal of decarbonization of mid-to-long range aviation.
The achievement of this milestone implies the ending of Project HEAVEN, a European government-backed consortium led by H2FLY, on a happy note. The consortium was created to explore the use of cryogenic liquid hydrogen in planes. Following this achievement, JOBY’s wholly-owned subsidiary will now shift its focus on the path to commercialization.
Expressing delight on this accomplishment Joby Aviation’s founder and CEO, JoeBen Bevirt, said, “H2FLY are pioneers in their field, and we’re proud of them achieving this watershed moment in the use of liquid hydrogen to power aircraft."
Zacks Rank & Key Picks
Joby Aviation currently carries a Zacks Rank #4 (Sell).
Investors interested in the Zacks Transportation sector may consider stocks like Ryanair Holdings (RYAAY - Free Report) and Air Transport Services Group (ATSG - Free Report) . Each stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Ryanair Holdings’ growth prospects are being supported by an upbeat in air-travel-demand scenario. An uptick in passenger volumes is leading the company to post impressive traffic numbers over the past few months.
Measures for expanding its fleet to cater to the rising travel demand are encouraging as well. Riding on the buoyant air-traffic scenario, RYAAY shares have gained 28.5% year to date. RYAAY surpassed the Zacks Consensus Estimate for earnings in each of the last four quarters by 21.4%, on average.
An uptrend with respect to e-commerce, even in the post-pandemic scenario, is a huge positive for Air Transport Services. It is the primary driver behind an uptick in demand for midsize air freighters.
Driven by the upbeat demand, ATSG delivered a record six converted freighters under lease in a month to its customers worldwide. The Zacks Consensus Estimate for ATSG’s current-year earnings has been revised 11.2% upward over the past 60 days.