Welcome to our dedicated page for Archer Aviation news (Ticker: ACHR), a resource for investors and traders seeking the latest updates and insights on Archer Aviation stock.
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 Inc. (NYSE: ACHR) will release its first quarter 2023 operating update and financial results on May 11, 2023, after market close. A conference call will follow at 2:00 p.m. Pacific Time to discuss these updates. Investors can access the live webcast through the Archer investor relations website. A replay will be available post-call. Archer is focused on developing electric vertical takeoff and landing aircraft aimed at transforming urban air mobility.
United Airlines and Archer Aviation have announced a partnership to launch the first air taxi route in Chicago, connecting O’Hare International Airport (ORD) with Vertiport Chicago. This initiative marks a significant step in urban air mobility (UAM) as both companies plan to integrate Archer's electric vertical takeoff and landing (eVTOL) aircraft into the city’s transportation ecosystem by 2025. The goal is to provide a sustainable, low-noise alternative to ground transportation, significantly reducing travel time to approximately 10 minutes from ORD to the city center. Collaboration with local authorities aims to establish the necessary infrastructure.
Archer Aviation Inc. (NYSE: ACHR) confirms it holds only a small amount of cash with Silicon Valley Bank (SVB), less than 2% of its total cash, which is in the single-digit millions. The recent SVB receivership is not expected to impact Archer's business or operations. Archer focuses on developing electric vertical takeoff and landing aircraft for urban air mobility, aiming to transform future transportation. The company is based in Santa Clara, California, and has outlined its commitment to keeping stakeholders informed about its financial health amidst recent banking sector concerns.
Archer Aviation Inc. (NYSE: ACHR) reported its fourth quarter and full year results for 2022, highlighting significant progress towards commercialization of its Midnight aircraft. The company is nearing the completion of its first build and has expanded its partnership with Stellantis for manufacturing. Financially, total operating expenses in Q4 were $108.1 million with a net loss of $95.4 million. For FY 2022, the net loss totaled $317.3 million. Looking ahead, Archer estimates Q1 2023 operating expenses between $110 million and $120 million (GAAP). The company's cash position remains strong at $531.2 million.
Archer Aviation (NYSE: ACHR) is making significant progress with its Midnight aircraft, nearing completion of its first build. All major aerostructures are assembled, and a significant portion of wiring and systems has been installed. Flight testing is scheduled to begin mid-2023, with initial conforming aircraft targeted for completion in Q4 2023, ahead of piloted flight tests in early 2024. Archer plans to manufacture at least six conforming Midnight aircraft for FAA certification tests. COO Tom Muniz highlighted this milestone as validation of their innovative strategy, aiming for mass manufacturing and certification.
Archer Aviation (NYSE: ACHR) has announced significant progress on its high-volume manufacturing facility for eVTOL aircraft in
Archer Aviation Inc. (NYSE: ACHR) will announce its fourth quarter and full year 2022 operational update and financial results on March 9, 2023, after market close. A conference call is scheduled for 2:00 p.m. PT (5:00 p.m. ET) to discuss these results. Investors can access the live webcast on the Archer investor relations website. International callers can dial +1 929-526-1599 and enter access code 066186 to join the call. A replay of the webcast and conference call will be available for one week after the event.
Archer Aviation Inc. (NYSE: ACHR) announced its participation in multiple investor conferences. Key events include Credit Suisse's 28th Annual Energy Summit in Vail, CO on February 27, 2023, Raymond James' 44th Annual Institutional Investors Conference in Orlando, FL on March 7, 2023, and J.P. Morgan's 2023 Industrials Conference in New York, NY on March 14, 2023. Additionally, Archer will join Baird's Vehicle Tech & Mobility Conference virtually on February 15, 2023. These conferences aim to enhance engagement with investors as Archer continues to develop electric vertical takeoff and landing aircraft for urban air mobility.
FAQ
What is the current stock price of Archer Aviation (ACHR)?
What is the market cap of Archer Aviation (ACHR)?
What does Archer Aviation Inc. do?
What is the Midnight aircraft?
What certifications has Archer Aviation received?
Who are some of Archer’s key partners?
What are Archer’s plans in the UAE?
What recent achievements has Archer announced?
How does Archer plan to ensure the safety of their aircraft?
What is the scope of Archer’s operations?
How is Archer planning to handle pilot training?
What financial position does Archer hold?
