Archer Aviation Inc. - ACHR STOCK NEWS

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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.

04/18/2024 08:30 AM

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Archer Opens D.C. Office; Adds Key Policy, Government, and Regulatory Affairs Leaders Under Former FAA Chief as It Prepares for Commercial Launch

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Archer Aviation Inc. (NYSE: ACHR) announces strategic hires and the opening of a Washington D.C. office to bolster government relations efforts. Former FAA Administrator Billy Nolen leads regulatory affairs, Melissa McCaffrey heads government affairs at state and local levels, and Lynda Tran joins as an advisor. The D.C. office near FAA and DOT headquarters will showcase Archer's eVTOL aircraft technology to policymakers. The company aims to transform urban travel with electric air taxis, advancing through the U.S. regulatory process for certifying its Midnight aircraft.

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03/28/2024 09:00 AM

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Archer Successfully Completes Multiple Battery Pack Drop Tests; One of the Most Challenging Tests It Is Set to Face as Part of the FAA’s Type Certification Program

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Archer Aviation Inc. achieves a significant milestone with successful battery pack drop tests for its Midnight aircraft, positioning the company well for upcoming FAA testing. The tests, conducted at a National Institute for Aviation Research lab, demonstrated the safety and durability of Archer's proprietary battery pack design.

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03/11/2024 09:00 AM

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Archer and Falcon Aviation to Jointly Develop Vertiport Network in Dubai and Abu Dhabi for the Launch of Flying Car Operations in UAE as Soon as 2025

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Archer Aviation Inc. (ACHR) partners with Falcon Aviation to develop a vertiport network in Dubai and Abu Dhabi, aiming to launch Archer's Midnight flying car in the UAE by 2025. The collaboration will offer a quieter, safer, and more affordable transportation option than helicopters, reducing travel time between the two cities to as little as 30 minutes. This strategic move reinforces Archer's expansion plans in the MENA region and marks a significant milestone in the urban air mobility sector.

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03/08/2024 11:33 AM

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Archer to Present at 2024 J.P. Morgan Industrials Conference

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Archer Aviation Inc. (NYSE: ACHR) Chief Commercial Officer, Nikhil Goel, to present at the 2024 J.P. Morgan Industrials Conference. Live webcast accessible on Archer's Investor Relations website.

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02/26/2024 04:05 PM

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Archer Announces Fourth Quarter and Full Year 2023 Results; Now In Final Phase of Midnight’s Certification Program as it Readies for Launch in 2025

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Archer Aviation Inc. reported strong operating and financial results for Q4 and full year 2023. The company is making rapid progress in its flight test program with the construction of three conforming Midnight aircraft. Archer expects to complete 400 test flights in 2024. The company has a strong liquidity position of approximately $625M at the end of Q4 2023, with cash balances increasing quarter over quarter.

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02/08/2024 11:00 AM

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Archer Receives Part 145 Certification From the Federal Aviation Administration

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Archer Aviation Inc. (NYSE: ACHR) has received its Part 145 certification from the Federal Aviation Administration (FAA), allowing the company to operate a repair and maintenance station. This certification demonstrates Archer's ongoing collaboration with the FAA and reinforces its progress towards commercial flight operations. The certification is essential for commercial aviation operators and original equipment manufacturers (OEMs) and represents a commitment to stringent safety and operational standards.

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02/07/2024 09:00 AM

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Archer Announces Three Conforming, Piloted Aircraft Are Now Under Construction; Aircraft Will Be Used In FAA “For Credit” Testing

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Archer Aviation Inc. (NYSE: ACHR) is making progress in constructing the Company’s first three conforming Midnight aircraft, with the first aircraft set to begin final assembly. The aircraft will undergo piloted flight testing and 'for credit' flight testing with the FAA, planned to start later this year. The key components and systems of the aircraft will conform to the intended type design for FAA certification. The final assembly will be done at the Company’s manufacturing facility in San Jose, California. The goal is to commercialize in 2025, aiming to transform urban travel by replacing car commutes with short, safe, sustainable, and cost-competitive flights.

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02/05/2024 04:05 PM

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Archer To Report Fourth Quarter and Full Year 2023 Operating Update and Financial Results on February 26, 2024

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Archer Aviation Inc. (NYSE: ACHR) will report its Q4 and full year 2023 operating update and financial results on February 26, 2024. The company will host a conference call and live webcast to discuss the results. Webcast and call details are available on the Archer investor relations website.

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01/31/2024 09:00 AM

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Archer’s Midnight Aircraft Successfully Completes Phase 1 of Flight Test Program as Company Continues to Advance Towards FAA Certification

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Archer Aviation Inc. (NYSE: ACHR) announces the successful advancement of its Midnight aircraft through Phase 1 of its flight test program in just 3 months. The program aims to bring electric air taxis to cities across the U.S. and the globe, with the aircraft moving towards piloted 'for credit' testing with the FAA later this year. The battery system of the aircraft has been upgraded, marking a significant step towards production readiness. The company's focus on safety and relentless execution has allowed it to gather a tremendous amount of data and learnings, enabling rapid progress towards certification.

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01/22/2024 05:30 AM

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Archer Aviation and NASA Sign Space Act Agreement To Collaborate on Mission-Critical eVTOL Aircraft Technologies

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Archer Aviation Inc. (NYSE: ACHR) has signed a Space Act Agreement with NASA to study high-performance battery cells and safety testing for Advanced Air Mobility (AAM) and space applications. The collaboration aims to ensure the U.S. leads in the next generation of air transportation. NASA will test Archer’s battery system design for its Midnight aircraft, with results to advance the entire AAM industry. Archer plans to deliver a high-performing battery pack with leading levels of safety to its electric air taxi, validating that these cells are tailor-made for aerospace applications.

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FAQ

What is the current stock price of Archer Aviation (ACHR)?

The current stock price of Archer Aviation (ACHR) is $10.8 as of December 24, 2024.

What is the market cap of Archer Aviation (ACHR)?

The market cap of Archer Aviation (ACHR) is approximately 4.7B.

What does Archer Aviation Inc. do?

Archer Aviation Inc. designs and develops fully electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility networks, aiming to reduce urban congestion and commute times with sustainable and safe electric air taxis.

What is the Midnight aircraft?

The Midnight is Archer’s flagship eVTOL aircraft, designed to perform rapid back-to-back flights with minimal charge time, accommodating four passengers plus a pilot, and producing low noise.

What certifications has Archer Aviation received?

Archer has secured both Part 135 and Part 145 certificates from the FAA, and has received final airworthiness criteria for its Midnight aircraft, crucial steps towards Type Certification.

Who are some of Archer’s key partners?

Archer has strategic partnerships with United Airlines, Falcon Aviation, and other entities to expand its operational footprint globally, including in the UAE and South Korea.

What are Archer’s plans in the UAE?

Archer is partnering with Falcon Aviation to develop vertiports in Dubai and Abu Dhabi, enabling flights between the cities and establishing key operational developments for urban air mobility in the region.

What recent achievements has Archer announced?

Recent achievements include successful battery pack drop tests, securing Part 135 certification, and partnerships to establish pilot training programs and vertiport infrastructure.

How does Archer plan to ensure the safety of their aircraft?

Archer conducts rigorous testing, including successful battery pack drop tests, and works closely with the FAA for certification to ensure the safety and durability of its eVTOL aircraft.

What is the scope of Archer’s operations?

Archer plans to launch urban air mobility services in major global cities, starting with the UAE and South Korea, aiming to replace lengthy commutes with quick, efficient air taxi flights.

How is Archer planning to handle pilot training?

Archer has partnered with Etihad Aviation Training and other local partners to recruit and train pilots for its Midnight aircraft, ensuring a well-prepared workforce for its eVTOL operations.

What financial position does Archer hold?

Archer maintains a strong liquidity position, with over $520 million in liquidity, allowing it to advance aircraft development programs and make strategic investments for future growth.