Uber reportedly will sell its flying taxi business to secretive startup Joby Aviation

Uber’s ambitious and quixotic effort to launch a flying taxi service is coming in for a landing. According to Axios, the ride-hailing company has agreed to sell its Uber Elevate division to secretive startup Joby Aviation.

The news comes as Uber CEO Dara Khosrowshahi attempts to push his company closer to profitability, which includes the sale of the money-losing parts of the business. The company is also said to be exploring the sale of its autonomous vehicle division. A spokesperson for Uber declined to comment.

Uber first announced its interest in launching a network of electric flying taxis in a white paper published in 2016. Under Uber’s calculations, a two-hour, 12-minute slog from San Francisco to San Jose would become a breezy...