Delta Bets on Flying Taxi Rides to and From Airports

Delta is betting on flying-taxi rides to and from airports, announcing a $60 million investment in Joby Aviation and plans to offer service in New York and Los Angeles.

Delta Air Lines investment will give it a 2% stake in Joby, which also has been backed by Uber Technologies and went public last year. Delta said its investment could grow up to $200 million if certain milestones in the development and delivery of the service are reached.