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Osaka-based MUFG Bank and 15 other Japanese companies from diverse sectors have united to research the commercial potential of air taxis in western Japan, focusing on sustainable business models, essential infrastructure, and demand generation through tourism. The compact aircraft in question, SkyDrive Inc.'s vertical takeoff and landing (VTOL) vehicle, will be employed in the service targeting the Kansai region, encompassing Osaka and Kyoto prefectures.

A March road map update by the Japanese government anticipates commercial services utilizing next-generation air mobility vehicles to commence between 2027 and 2028. SkyDrive, headquartered in Toyota, Aichi Prefecture, showcased over a dozen demonstration flights at the 2020 Osaka World Exposition, employing its battery-powered multirotor aircraft capable of transporting a pilot and up to two passengers.

The initiative, announced in a press release by MUFG Bank, involves a consortium of 15 companies, including regional lender Senshu Ikeda Bank, major nonlife insurer Tokio Marine & Nichido Fire Insurance Co., and leasing company Mitsubishi HC Capital Inc. The remaining members' identities have not been disclosed. The participating entities will convene regularly to share knowledge and deliberate on matters concerning vertiports, charging infrastructure, fare structures, and the service's overall commercial viability.

A decision on whether to establish a jointly owned company to operate the service is expected to be made around next summer.

SkyDrive, collaborating with Osaka Metro Co. to deploy flying cars, highlights the lack of takeoff and landing sites as a significant barrier to the widespread adoption of such vehicles, particularly in densely populated urban areas where land is scarce. Major Japanese airlines, such as Japan Airlines Co.'s joint venture Soracle Corp., are also gearing up for commercial operations using comparable aircraft developed by U.S. company Archer Aviation Inc., with operations slated to begin in fiscal 2028 or later.

ANA Holdings Inc. has partnered with Joby Aviation Inc., an electric aircraft developer backed by Toyota Motor Corp.