Latest news with #AbuDhabiAviation
Yahoo
3 days ago
- Business
- Yahoo
Where Will Archer Aviation Be in 3 Years?
Archer Aviation is a leader in the emerging flying taxi industry, developing electric vertical takeoff and landing vehicles (eVTOLs). The company has completed its manufacturing facility in Georgia and is working on deploying early fleets of its aircraft in the UAE. Archer aims to expand its operations to major U.S. cities, leveraging existing helicopter infrastructure to facilitate quick travel to airports. 10 stocks we like better than Archer Aviation › Flying taxis are poised to revolutionize urban travel, and Archer Aviation (NYSE: ACHR) is at the forefront. Archer develops cutting-edge electric vertical takeoff and landing vehicles (eVTOLs), or flying taxis, and plans to launch its service in the United Arab Emirates as early as this year. Archer is working toward certification in the U.S. and ramping up its manufacturing capabilities. It's also forming partnerships with cities and airlines to ensure that its flying taxi service takes flight. The technology is still in its early stages, and the next few years are crucial for its success. Here's what the next three years could have in store for Archer Aviation. Archer Aviation is making good headway with its air taxi business. Last year, the company finished construction on its 400,000-square-foot manufacturing facility in Covington, Georgia, where it plans to build 10 of its Midnight aircraft this year. With the help of Abu Dhabi Aviation, Archer plans to launch its air taxi service later this year in the United Arab Emirates. It also plans to deploy small fleets of its Midnight aircraft to early adopters, like the UAE, over the next 18 to 24 months. Archer has secured design approval for its first hybrid heliport in the UAE. The General Civil Aviation Agency has approved the design to help transform the Abu Dhabi Cruise Terminal helipad into a hybrid heliport for helicopters and eVTOL aircraft. Once complete, this will be the first hybrid heliport available for early commercial and air taxi operations in Abu Dhabi. Archer hopes that operations in the UAE are just the beginning. The company has its sights set on the U.S. market over the next few years. For example, the company wants to begin operations in New York City and released its vision for the air taxi service in April. In a partnership with United Airlines, Archer plans to enable passengers to travel from Manhattan to nearby airports in just five to 15 minutes using its Midnight aircraft. "With its existing helicopter infrastructure, regulatory support and strong demand, New York could be one of the first markets for air taxis in the United States," Archer CEO Adam Goldstein said. The company also aims to establish an air mobility network in Los Angeles with a similar goal: connecting customers to airports, thereby significantly reducing travel time. Archer's network would include vertiports at key locations such as Los Angeles International Airport (LAX), Orange County, Santa Monica, Hollywood Burbank, Long Beach, and Van Nuys. Its goal is to begin operations in New York and Los Angeles, potentially as early as next year. Additionally, it has been selected as the official air taxi of the 2028 Los Angeles Summer Olympic and Paralympic Games. However, before commercial operations in the United States begin, the company must get its Type Certification from the Federal Aviation Administration. In February, the FAA awarded Archer its Part 141 certificate, formally recognizing it as a regulated institution for pilot training. This is the third of four certificates the company has been waiting for from the FAA to launch operations. It is awaiting type certification for its Midnight aircraft, which will be the final certification before it can begin commercial operations in the U.S. It expects to get this certification sometime this year. While it's still early on to make solid projections, analysts covering Archer Aviation project revenue and earnings per share to look like this over the next few years: Metric 2025 2026 2027 2028 Revenue (in millions) $17 $144 $437 $1,100 Earnings per share ($0.93) ($0.89) ($0.84) ($0.43) In March, J.P. Morgan analyst Bill Peterson warned investors that commercialization is proving to take longer and be less lucrative than imagined. Peterson said he believed that 2025 was likely off the table, as the rollout in the UAE is proving to be different from what was expected. However, Archer Aviation management told investors during its May earnings call that it remains on track to launch in the UAE later this year with plans to deliver a piloted Midnight aircraft to the region this summer. That said, if its launch is pushed back in the UAE or other key areas, it would impact the timing of its revenue. For this reason, investors should closely monitor Archer's cash burn rate, particularly since it is still not generating any meaningful revenue. The good news is that Archer increased its cash balances by $196 million in the first quarter and has over $1 billion in liquidity. Archer Aviation is a rising company in an emerging industry that is still in its early stages of development. There remains debate around how much the urban air mobility market may be worth. Not only that, but investors also face risks related to the timing of certifications, production, and the rollout of commercial operations. The company is well capitalized today, so its cash runway isn't an immediate concern. However, a delayed timeline could extend its cash burn, which could weigh on the stock if it needs to continue raising capital. Investing in Archer Aviation may not be suitable for all investors. It's pre-revenue, and its growth story is still in the early innings. If you buy the stock, treat your investment in Archer as a speculative growth play and only risk a portion of your portfolio that you are comfortable with on this high-risk and potentially high-reward stock. Before you buy stock in Archer Aviation, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Archer Aviation wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $651,049!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $828,224!* Now, it's worth noting Stock Advisor's total average return is 979% — a market-crushing outperformance compared to 171% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 JPMorgan Chase is an advertising partner of Motley Fool Money. Courtney Carlsen has positions in JPMorgan Chase. The Motley Fool has positions in and recommends JPMorgan Chase. The Motley Fool has a disclosure policy. Where Will Archer Aviation Be in 3 Years? was originally published by The Motley Fool
Yahoo
20-05-2025
- Business
- Yahoo
Should You Buy or Sell Archer Aviation Stock Post Q1 Earnings Beat?
Archer Aviation Inc. ACHR recently released its first-quarter 2025 results. The company reported a loss of 13 cents per share, narrower than the Zacks Consensus Estimate of a loss of 21 cents. ACHR ended the first quarter with a robust cash position of $1.03 billion, which should ensure sufficient liquidity for the upcoming production and deployment phases of its Midnight Electric Vertical Take-Off and Landing (eVTOL) aircraft. The quarterly results also highlighted the company's plans to deliver its first piloted Midnight aircraft to the UAE this summer, with commercial operations slated to start later this year. Such better-than-expected quarterly performance and developmental updates might encourage investors interested in eVTOL manufacturers to add ACHR stock to their portfolio. However, before making any hasty decision, it would be prudent to take a look at ACHR's recent performance at the bourses, its long-term prospects as well as risks (if any) to investing in the same. This would help investors make a more insightful decision. Archer Aviation's shares have surged a solid 36.4% in the year-to-date period, outperforming the Zacks Aerospace-Defense industry's growth of 16.1% as well as the broader Zacks Aerospace sector's gain of 13.4%. It has also surpassed the S&P 500's return of 0.7% in the same time frame. Image Source: Zacks Investment Research A similar stellar performance can be seen in the shares of other industry players, such as Embraer ERJ and The Boeing Company BA, which have witnessed year-to-date surges of 33.1% and 16.1%, respectively. Archer Aviation has made some significant progress in recent times in relation to launching its Midnight aircraft in the commercial market, developments associated with it, as well as its growing venture in the defense space. Notably, ACHR started this year by raising equity capital worth $301.8 million (in February 2025) with the aim of accelerating the development of its hybrid aircraft platform for the defense market and beyond. Next, the company announced a comprehensive 'Launch Edition' commercialization program for its Midnight aircraft, with Abu Dhabi Aviation becoming ACHR's first Launch Edition customer. Then, in March, ACHR signed an agreement with Ethiopian Airlines, making it the second customer to plan deploying Archer's Midnight aircraft under the 'Launch Edition' program. In April, the company received the design approval for the planned transformation of an Abu Dhabi Cruise Terminal helipad into a hybrid heliport. On completion, this will serve as the first hybrid heliport available for early commercial air taxi operations in Abu Dhabi, paving the way for early operations of ACHR's Midnight aircraft planned with Abu Dhabi Aviation. All these achievements must have boosted investors' confidence in this stock lately, which, in turn, has been duly reflected in its year-to-date share price hike. As urban traffic congestion worsens, there is a growing demand for sustainable, low-emission transportation alternatives. This shift is driving interest in eVTOL aircraft, which offer efficient and environmentally friendly mobility solutions. Archer Aviation's Midnight jet is well-positioned to capitalize on this trend. Once commercially available, it could see strong adoption in urban air mobility markets, potentially accelerating revenue growth and solidifying Archer's role as a leader in next-generation transport solutions. Thus, once Archer Aviation's Midnight aircraft becomes commercially available, the company is expected to witness strong adoption of this jet in urban air mobility markets. This should potentially accelerate its revenue growth and solidify Archer's position as a leader in next-generation transport solutions. A sneak peek at ACHR's near-term earnings estimates also reflects this. The Zacks Consensus Estimate for second-quarter and full-year 2025 earnings indicates a year-over-year improvement. The consensus estimate for 2026 also mirrors a similar trend. However, the consensus mark for its 2025 and 2026 earnings reflects a downward revision, indicating declining investor confidence in the stock's earnings growth capabilities. Image Source: Zacks Investment Research Image Source: Zacks Investment Research Archer Aviation shows encouraging near-term potential, but its long-term sustainability remains uncertain. In particular, the eVTOL market is still in its infancy, and ACHR's success hinges not only on its ability to design, certify, and scale production of its aircraft but also on how the market demand evolves. Furthermore, public acceptance of eVTOLs as a viable transportation alternative may be hindered by concerns over safety, noise, and affordability, which could delay their mass adoption. Without broad consumer and regulatory support, the company's growth trajectory may face headwinds. Moreover, ACHR is yet to generate any revenue, raising potential concerns among investors about its ability to deliver shareholder value. Unless the company achieves profitability through the successful commercialization of its Midnight aircraft and secures a solid customer base, long-term returns from this stock may remain elusive. Its negative Return on Invested Capital ('ROIC'), which also lags the industry's ROIC, further justifies that. Image Source: Zacks Investment Research ACHR's industry peer, Boeing, also delivered a negative ROIC. However, another of ACHR's industry peers, ERJ, boasts a ROIC of 14.24, which is also higher than the industry's ROIC. Investors interested in Archer Aviation stock should wait for a better entry point, considering its negative ROIC and a downward revision in near-term earnings estimates. However, those who already own this Zacks Rank #3 (Hold) stock may continue to do so, considering the stellar performance of its shares in the year-to-date period, its solid cash flow position, and the year-over-year improvement reflected in its upcoming earnings estimates. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Boeing Company (BA) : Free Stock Analysis Report Embraer-Empresa Brasileira de Aeronautica (ERJ) : Free Stock Analysis Report Archer Aviation Inc. (ACHR) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12-05-2025
- Business
- Yahoo
Archer Announces First Quarter Results, Highlighting On-Track UAE Launch & New "Launch Edition" Customers
UAE Launch remains on track for later this year with plans to deliver a piloted Midnight aircraft to the UAE this summer The Midnight "Launch Edition" program rolls out with its first two customers: Abu Dhabi Aviation and Ethiopian Airlines Partnering with Palantir to build artificial intelligence for the future of next-gen aviation technologies Total cash position surpasses $1B, leading the industry with Q1'25 spending landed within its guided range SANTA CLARA, Calif., May 12, 2025--(BUSINESS WIRE)--Archer Aviation Inc. ("Archer" or the "Company") (NYSE: ACHR) today announced operating and financial results for the first quarter ended March 31, 2025. The Company issued a shareholder letter discussing those results, as well as its second quarter 2025 estimates. Commenting on first quarter 2025 results, Adam Goldstein, Archer's founder and CEO, said: "Archer's pushing the boundaries of what's possible and reshaping the future of aviation for years to come. This quarter, the team made strong progress across our civil and defense efforts as we continue to deepen our strategic partner relationships and prepare for commercialization in the UAE later this year." Live Webcast Details Archer will host a live webcast to discuss its results at 2:00 p.m. Pacific Time today. The live webcast and replay is accessible via our investor relations website at or conference call by dialing 404-975-4839 (domestic) or +1 833-470-1428 (international) and entering the access code 250266. First Quarter Highlights UAE Launch On Track Archer plans to deliver its first Midnight aircraft to the UAE in the coming months for its planned deployment later this year. To support these launch efforts, Archer recently secured design approval for the first hybrid heliport in the UAE located in Abu Dhabi. New "Launch Edition" Customers During the previous quarterly results, Archer rolled out its "Launch Edition" program which aims to establish a pragmatic and repeatable playbook to deploy Midnight commercially to certain early adopter markets. During the quarter, Archer announced its first two customers: Abu Dhabi Aviation and Ethiopian Airlines. AI Partnership With Palantir Archer has forged a foundational partnership with Palantir to build artificial intelligence for the future of next-gen aviation technologies. The companies' plans include the development of next-gen software utilizing AI to improve a range of aviation systems. NYC Air Taxi Network With United Last month, Archer hosted an event in New York City with United Airlines to share their plans to connect Manhattan with nearby airports using our Midnight aircraft, with the goal of allowing customers to replace one-to-two-hour drives with flights that take 5-15 minutes, potentially saving hours versus sitting in traffic. First Quarter Financial Results Q1 2025 (GAAP) Q1 20251 (Non-GAAP) Total Operating Expenses $ 144.0M $ 113.1M Net Loss $ (93.4M) NA Adjusted EBITDA NA $ (109.0M) Cash and Cash Equivalents $ 1,030.4M NA A reconciliation of non-GAAP financial measures to the most comparable GAAP measures is provided below in the section titled "Reconciliation of Selected GAAP To Non-GAAP Results for Q1 2025." Second Quarter 2025 Financial Estimates Archer's financial estimates for second quarter of 2025 are as follows: Adjusted EBITDA to be a loss of $100 million to $120 million We have not reconciled our Adjusted EBITDA estimates because certain items that impact non-GAAP metrics are uncertain or out of our control and cannot be reasonably predicted. In particular, stock-based compensation expense is impacted by the future fair market value of our common stock and other factors, all of which are difficult to predict, subject to frequent change, or not within our control. The actual amount of these expenses during 2025 will have a significant impact on our future GAAP financial results. Accordingly, a reconciliation of non-GAAP metrics is not available without unreasonable effort. About Archer Archer is designing and developing the key enabling technologies and aircraft necessary to power the future of aviation. To learn more, visit Source: ArcherText: ArcherIR Forward-Looking Statements This press release contains forward-looking statements regarding Archer's future business plans and expectations, including statements regarding its expected financial results for the second quarter of 2025, business strategy and plans, aircraft performance, the design and target specifications of our aircraft, the pace at which Archer intends to design, develop, certify, conduct test flights, manufacture and commercialize its planned eVTOL aircraft, business opportunities, the production timeline, ramp-up and volume of its manufacturing facilities, air taxi network buildout, plans and anticipated benefits with respect to its strategic partnership with Palantir, projected demand for Archer's aircraft and services, including its "Launch Edition" commercialization program and associated deployment of aircraft, and international expansion. In addition, this press release refers to signed agreements with third parties on certain key terms which are conditioned on the future execution by the parties of additional binding definitive agreements incorporating those terms, which definitive agreements may not be completed or may contain different terms. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors. The risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed in our filings with the Securities and Exchange Commission ("SEC"), including our most recent Annual Report on Form 10-K, which is or will be available on our investor relations website at and on the SEC website at In addition, please note that any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this press release. We undertake no obligation to update these statements as a result of new information or future events. Reconciliation of Selected GAAP To Non-GAAP Results for Q1 2025 Reconciliation of Total Operating Expenses (in millions; unaudited): A reconciliation of total operating expenses to non-GAAP total operating expenses for the three months ended March 31, 2025 is set forth below. Three Months Ended March 31, 2025 Total operating expenses $ 144.0 Adjusted to exclude the following: Stellantis warrant expense (1) (0.8) Stock-based compensation (2) (30.1) Non-GAAP total operating expenses $ 113.1 (1) Amounts include non-cash warrant costs, classified as research and development expenses, for the warrants issued to Stellantis N.V. and its subsidiaries ("Stellantis") in connection with certain services they are providing to the Company. (2) Amounts include stock-based compensation for options and restricted stock units issued to both employees and non-employees, including the grant issued to our founder in connection with the closing of the business combination. Reconciliation of Adjusted EBITDA (in millions; unaudited): A reconciliation of net loss to Adjusted EBITDA for the three months ended March 31, 2025 is set forth below. Three Months Ended March 31, 2025 Net loss $ (93.4) Adjusted to exclude the following: Other income, net (1) (42.0) Interest income, net (8.7) Income tax expense 0.1 Depreciation and amortization expense 4.1 Stellantis warrant expense (2) 0.8 Stock-based compensation (3) 30.1 Adjusted EBITDA $ (109.0) (1) Amounts include changes in fair value of the public and private warrants, which are classified as warrant liabilities. (2) Amounts include non-cash warrant costs, classified as research and development expenses, for the warrants issued to Stellantis in connection with certain services they are providing to the Company. (3) Amounts include stock-based compensation for options and restricted stock units issued to both employees and non-employees, including the grant issued to our founder in connection with the closing of the business combination. Non-GAAP Financial Measures To supplement our condensed consolidated financial results prepared in accordance with GAAP, we use a number of non-GAAP financial measures to help us in analyzing and assessing our overall business performance, for making operating decisions and for forecasting and planning future periods. We consider the use of non-GAAP financial measures helpful in assessing our current financial performance, ongoing operations and prospects for the future as well as understanding financial and business trends relating to our financial condition and results of operations. While we use non-GAAP financial measures as a tool to enhance our understanding of certain aspects of our financial performance and to provide incremental insight into the underlying factors and trends affecting our performance, we do not consider these measures to be a substitute for, or superior to, the information provided by GAAP financial measures. Consistent with this approach, we believe that disclosing non-GAAP financial measures to the readers of our financial statements provides useful supplemental data that, while not a substitute for GAAP financial measures, can offer insight in the review of our financial and operational performance and enables investors to more fully understand trends in our current and future performance. In assessing our business during the quarter ended March 31, 2025, we excluded items in the following general categories from one or more of our non-GAAP financial measures, certain of which are described below: Stock-Based Compensation Expense: We believe that providing non-GAAP measures excluding stock-based compensation expense, in addition to the GAAP measures, allows for better comparability of our financial results from period to period. We prepare and maintain our budgets and forecasts for future periods on a basis consistent with this non-GAAP financial measure. Further, companies use a variety of types of equity awards as well as a variety of methodologies, assumptions and estimates to determine stock-based compensation expense. We believe that excluding stock-based compensation expenses enhances our ability and the ability of investors to understand the impact of non-cash stock-based compensation on our operating results and to compare our results against the results of other companies. Warrant Expense and Gains or Losses from Revaluation of Warrants: Expense from our common stock warrants issued to Stellantis, which is recurring (but non-cash) and gains or losses from change in fair value of public and private warrants from revaluation will be reflected in our financial results for the foreseeable future. We exclude warrant expense and gains or losses from change in fair value for similar reasons to our stock-based compensation expense. Each of the non-GAAP financial measures presented in this release should not be considered in isolation from, or as a substitute for, a measure of financial performance prepared in accordance with GAAP and are presented for supplemental informational purposes only. Further, investors are cautioned that there are inherent limitations associated with the use of each of these non-GAAP financial measures as an analytical tool. In particular, these non-GAAP financial measures have no standardized meaning prescribed by GAAP and are not based on a comprehensive set of accounting rules or principles and many of the adjustments to the GAAP financial measures reflect the exclusion of items that are recurring and may be reflected in our financial results for the foreseeable future. In addition, the non-GAAP measures we use may be different from non-GAAP measures used by other companies, limiting their usefulness for comparison purposes. We compensate for these limitations by providing specific information in the reconciliation included in this release regarding the GAAP amounts excluded from the non-GAAP financial measures. In addition, as noted above, we evaluate the non-GAAP financial measures together with the most directly comparable GAAP financial information. Investors are encouraged to review the reconciliations of these non-GAAP measures to their most directly comparable GAAP financial measures included in this release. View source version on Contacts For Investors investors@ For Media The Brand AmpArcher@
Al Bawaba
06-05-2025
- Business
- Al Bawaba
Abu Dhabi plans flying taxi test flights this summer
Published May 6th, 2025 - 08:49 GMT ALBAWABA – Abu Dhabi, the capital of the United Arab Emirates (UAE), is set to begin testing flying taxis this summer. The initiative is a collaboration between Archer Aviation, a publicly traded US company specializing in electric vertical takeoff and landing (eVTOL) aircraft, and Abu Dhabi Aviation, a leading airline based in the UAE capital. Also Read UAE to launch flying taxi trials in 2025 Abu Dhabi says goodbye to traffic jams The city is preparing to say goodbye to heavy traffic jams with the launch of flying taxi test flights scheduled for this the first test will feature the Midnight aircraft, an electric vertical takeoff and landing (eVTOL) vehicle capable of carrying four passengers in addition to a pilot. This quiet, emissions-free flying taxi will be tested this summer as part of efforts by the two companies to determine the timeline for the official launch of the service in the UAE. The Midnight flying taxi is environmentally friendly, featuring a zero-emissions electric engine. ( This innovative transportation solution is expected to significantly reduce travel time across the city—from approximately 60 to 90 minutes down to just 10 to 20 will be able to enjoy a scenic, 20-minute flight from Abu Dhabi to Dubai, bypassing road traffic and taking in aerial views along the Midnight flying taxi is environmentally friendly, featuring a zero-emissions electric engine. According to the company, the cost of a ride will be comparable to that of luxury ground transportation. They emphasized the benefits of the project, which include fuel and time savings, reduced carbon emissions, and overall environmental conservation. © 2000 - 2025 Al Bawaba (
Al Etihad
01-04-2025
- Business
- Al Etihad
After Abu Dhabi, Archer Aviation ties up with Ethiopian Airlines to deploy electric air taxies in Africa
1 Apr 2025 22:45 ABU DHABI (ALETIHAD) After choosing Abu Dhabi Aviation (ADA) as its first partner for deploying its Midnight electric air taxis, Archer Aviation has now signed an agreement with Ethiopian Airlines to introduce the aircraft in Africa. Under this partnership, Archer and Ethiopian Airlines will collaborate to establish an all-electric air taxi network in the region using Archer's Midnight aircraft. The two companies are also exploring additional applications for Midnight, including launched its "Launch Edition" programme in February 2025 to create a scalable framework for safely deploying its aircraft in early adopter markets. Through this initiative, Archer aims to demonstrate Midnight's capabilities, drive public acceptance, gain operational experience, and generate early revenue. As part of the agreement, Ethiopian Airlines will receive an initial fleet of Midnight aircraft, supported by a team of Archer pilots, technicians, and engineers. Archer will also provide backend software infrastructure and a booking platform to facilitate urban air mobility partnership was formalised during a signing ceremony in Addis Ababa. Moving forward, both companies will work with the Ethiopian Civil Aviation Authority (ECAA) to ensure the smooth and safe integration of Midnight into the country's transport Tasew, Group CEO of Ethiopian Airlines, said: 'We are committed to pioneering advanced air mobility solutions that enhance connectivity and drive sustainable aviation in Africa. Our partnership with Archer Aviation marks an important step in bringing cutting-edge eVTOL technology to Ethiopia. Together, we aim to redefine regional travel and create new opportunities for efficient, eco-friendly transportation."Archer's Founder and CEO, Adam Goldstein, said: 'Last month, we announced Abu Dhabi Aviation as our first Launch Edition customer—today, we're following that up with our second, Ethiopian Airlines. Africa presents an untapped opportunity for advanced air mobility, with a variety of compelling use cases that we'll be exploring together. I'm proud to be taking this big step forward alongside Ethiopian Airlines.'Alastair Curtis, General Manager, Africa, at Archer, added: 'This partnership with Ethiopian Airlines represents a transformative step in bringing sustainable and efficient air mobility solutions to Ethiopia and the broader African market. At Archer, we're committed to working with forward-thinking partners to unlock the potential of eVTOL technology. This is just the beginning of a new era of aviation for Africa.'Nathan Stickney, Commercial Attaché at the US Embassy in Addis Ababa, commented: 'US aviation companies have time and again highlighted the best of American quality and innovation, and we're excited at the opportunity for Archer to make an impact in the region while making America more prosperous through its new agreement with Ethiopian Airlines.' Archer aims to revolutionise urban travel by replacing lengthy 60–90-minute car commutes with 10–20-minute electric air taxi flights that are safe, sustainable, low-noise, and cost-competitive with ground transportation. Midnight, Archer's flagship aircraft, is a piloted, four-passenger eVTOL designed for rapid, back-to-back trips with minimal charging time between flights. Source: Aletihad - Abu Dhabi
