At a speech at the Web Summit in Lisbon, Uber's head of product Jeff Holden revealed the company has signed a Space Act Agreement with NASA to create the air traffic control system that will manage its low-flying taxi fleet, which it aims to have in the air by 2020. The company also announced that a third test city, Los Angeles, has been added to the program, joining Dallas-Fort Worth and Dubai. According to Uber, its UberAIR service could compress a one and a half hour journey from LAX to the Staples Center during rush hour to under 30 minutes.

Uber released a slick video, seen above, alongside its announcement, illustrating just how it envisions the Elevate service being used. It closes with the line "closer than you think". With NASA's clout behind the project, the idea of a flying taxi service is not only closer, but a whole lot more credible, too.