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Archer Aviation Inc. (NYSE: ACHR) is pioneering the future of urban air mobility with the design and development of fully electric vertical takeoff and landing (eVTOL) aircraft. The core mission of the company is to revolutionize urban transportation by introducing sustainable, efficient, and safe electric air taxis.
Headquartered in Santa Clara, CA, Archer aims to reduce urban congestion and commute times by providing an innovative alternative to traditional ground transportation. Archer’s flagship aircraft, the Midnight, is designed to perform rapid back-to-back flights with minimal charge time between flights. This piloted, four-passenger vehicle boasts a low-noise profile, positioning it as an environmentally friendly option for urban travel.
Archer has made significant strides in the regulatory landscape, securing both Part 135 and Part 145 certificates from the Federal Aviation Administration (FAA), positioning it to commence commercial operations. The company has also achieved the issuance of final airworthiness criteria for the Midnight aircraft, marking a critical step towards Type Certification. Additionally, Archer is actively collaborating with prominent partners, such as United Airlines and Falcon Aviation, to expand its operational footprint globally, including strategic partnerships in the UAE and South Korea.
In recent developments, Archer has announced partnerships to advance urban air mobility (UAM) infrastructure. This includes the creation of vertiports in Dubai and Abu Dhabi, and joint ventures to establish training centers for future pilots. Notably, the company has also completed rigorous battery pack testing, reinforcing the safety and durability of its designs.
Financially, Archer demonstrates a robust liquidity position, maintaining over $520 million in liquidity as it advances its aircraft development programs. The company’s strategic investments and partnerships underscore its commitment to leading the urban air mobility revolution, with plans to launch across major global cities in the coming years.
Archer Aviation announced its fourth quarter and full year 2021 results, highlighting that it achieved all milestones set for the year. Key developments include the successful hover flight of its eVTOL aircraft, Maker, and progress toward FAA certification for commercial operations. Financially, Archer reported a net loss of $43 million in Q4 and an annual loss of $348 million, with total operating expenses of $53 million for Q4 and $358 million for the year. The company holds $747 million in cash and plans to manage substantial stock-based compensation in 2022.
Archer Aviation Inc. (NYSE: ACHR) will announce its fourth quarter and full year 2021 financial results on Monday, March 14, 2022, after market close. A conference call will follow at 2:00 PM PT to discuss these results and provide a business update. Investors can access the live webcast on the company’s investor relations website. Archer is focused on developing sustainable air mobility through electric vertical takeoff and landing aircraft, aiming for efficient urban transportation.
Archer Aviation Inc. (NYSE: ACHR) announced that the U.S. Attorney’s Office will not pursue charges against Dr. Jing Xue, following allegations of trade secret theft made by Wisk, a Boeing joint venture. This decision comes amidst a civil lawsuit filed by Wisk against Archer, reinforcing Archer's stance that Wisk's accusations lack factual basis. Archer's Chief Legal Officer expressed satisfaction with the investigation's outcome and criticized Wisk's efforts to stifle innovation through legal means. Archer awaits to continue its defense against Wisk's claims in court.
Archer Aviation Inc. (NYSE: ACHR) announced the appointment of Barbara Pilarski to its Board of Directors. Pilarski, currently the Global Head of Business Development at Stellantis N.V. (NYSE: STLA), brings over 35 years of experience in the automotive sector. She will also serve on Archer's Nominating & Corporate Governance Committee. Co-CEO Brett Adcock expressed confidence in Pilarski's ability to support Archer's strategy to establish industry-changing partnerships as part of its mission to revolutionize urban air mobility.
Archer Aviation Inc. (NYSE: ACHR) has appointed three new members to its Technical Advisory Board:
Archer Aviation has appointed Mark Mesler as the new Chief Financial Officer (CFO). With over two decades of experience in finance within the hardware, sustainability, and aerospace sectors, he will enhance Archer's financial operations, investor relations, and cash management strategies.
Mesler previously held significant roles at Bloom Energy and Volansi, and he is expected to support Archer's 2023 manufacturing launch and FAA Type Certification in 2024. He replaces Ben Lu, who will assist during the transition.
Archer Aviation Inc. (NYSE: ACHR) has achieved a major milestone with the successful hover flight of its Maker eVTOL aircraft, marking FAA airworthiness certification. The flight took place on December 16 at 10:30 AM PT, validating all systems for flight. In the upcoming months, Archer will expand its flight test campaign to include hover and transition envelope expansions. The goal is to establish a scalable aerial ridesharing service by late 2024. This achievement coincides with the anniversary of the Wright Brothers' first flight, symbolizing a significant step in urban air mobility.
Archer Aviation Inc. (NYSE: ACHR) has received a Special Airworthiness Certificate from the FAA, enabling the company to commence hover flight testing of its Maker aircraft. This milestone confirms that Maker meets all FAA safety requirements for off-ground operations. Archer aims to launch its first commercial eVTOL flights in 2024, positioning itself as a leader in sustainable air mobility. This achievement follows previous certification milestones and reflects the company's commitment to safety and innovation in urban transport.
Archer Aviation Inc. (NYSE: ACHR) has formed a specialized Flight Control and Software team, led by
Archer Aviation Inc. (NYSE: ACHR) reported its third-quarter financial results on November 11, 2021. The company is focused on developing sustainable air mobility through electric vertical takeoff and landing (eVTOL) aircraft. Archer aims to revolutionize urban transportation by enabling quick, safe, and economical travel. A live audio webcast to discuss these results will occur at 4:30 p.m. ET today. For further details, shareholders can view the results in the shareholder letter available on their investor relations website.
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