Latest news with #AirTaxi
Bloomberg
20-05-2025
- Business
- Bloomberg
Short Seller Challenges Jimmy Fallon to $1 Million Air Taxi Bet
Air taxi company Archer Aviation Inc. has been targeted by short sellers before, but Culper Research has added an unusual twist to its report: A proposed $1 million 'friendly wager' with the TV show host Jimmy Fallon. New York-based Culper has alleged that Archer 'systematically lied' about the progress of its flagship vehicle and paid 'millions' to secure a May 15 appearance on 'The Tonight Show' with Fallon, who a month earlier had attended a promotional event for the company in New York City.
Yahoo
18-05-2025
- Business
- Yahoo
Archer Aviation Extends Rally, Gains 9% on LA28 Air Taxi Deal Momentum
Archer Aviation (NYSE:ACHR) jumped 8.7% midday Friday, running hot after being named the Official Air Taxi Provider for the 2028 Los Angeles Olympic and Paralympic Games on Thursday. Its essentially a coup that could showcase its Midnight eVTOL fleet to over 15 million visitors and billions of global viewers. Warning! GuruFocus has detected 3 Warning Sign with ACHR. Under the exclusive partnership, Archer's piloted, four-passenger electric air taxiwith lower noise and zero on-site emissionswill ferry VIPs, fans and stakeholders 1020 minutes between vertiport hubs at Inglewood Stadium, the LA Coliseum, LAX, Hollywood, Orange County and Santa Monica, while also backing emergency services and security operations. Archer plans to electrify take-off and landing facilities at key venues, integrating its aircraft into Team USA logistics and broadcast support. The deal follows Midnight's recent FAA Part 135 air taxi certification progress and underscores Archer's drive to prove commercial viability ahead of planned service launches in 2025. Why it matters: securing a high-profile 2028 Olympic role not only validates Archer's technology but also accelerates vertiport build-out and public awareness just as eVTOL adoption begins. Archer Aviation has delivered a breakout performance, soaring 51.1% in just the past week and 85.9% over the last monthfar outpacing the S&P 500's returns. The stock has skyrocketed 222% over six months and is up 35.7% year to date, signaling major investor momentum. In comparison, the broader market has remained relatively flat, underscoring Archer's sharp outperformance. This kind of price action points to growing optimism around the company's long-term growth prospects. This article first appeared on GuruFocus. 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
Dubai Eye
24-04-2025
- Business
- Dubai Eye
Flying taxis closer to takeoff as Abu Dhabi approves design for hybrid heliport
The UAE has approved the design for the country's first hybrid heliport, marking a step forward in the rollout of flying taxi services planned to begin by 2026 The heliport will be located at Abu Dhabi Cruise Terminal at Zayed Port. It's part of the broader Abu Dhabi Air Taxi project and is designed to accommodate both conventional helicopters and electric vertical take-off and landing (eVTOL) aircraft, General Civil Aviation Authority (GCAA) announced. It is expected to offer faster transit options for visitors arriving by sea, with direct access to nearby landmarks such as the Louvre Abu Dhabi and Saadiyat Cultural District. Developed in partnership between Abu Dhabi Ports Group, Falcon Aviation Services, and Archer Aviation, the site was chosen for its proximity to key tourist destinations and high foot traffic, with Zayed Port welcoming more than 650,000 cruise passengers annually. Archer CEO Adam Goldstein highlighted that adapting existing aviation sites, like the cruise terminal heliport, is a key strategy for accelerating air taxi deployment. 'It allows us to move both quickly and safely — getting critical infrastructure ready ahead of our planned commercial air taxi launch,' he said. The heliport's upgrade comes amid growing interest in Advanced Air Mobility (AAM) as cities globally explore new transport models to ease congestion and reduce emissions. The Abu Dhabi Air Taxi project aims to connect major parts of the city through short-hop flights using quiet, battery-powered aircraft.
