Archer Aviation Receives $10 Million Pre-Payment from United Airlines

The move validates confidence in the eVTOL sector, says the California aircraft developer.

Thom Patterson

Wednesday, August 10, 2022 at 04:58 PM ET

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Archer Aviation has increased flight tests this year of its Maker air taxi test article. [Courtesy: Archer Aviation]

Key Takeaways:

United Airlines paid Archer Aviation $10 million, fulfilling part of a 2021 deal to purchase 100 electric vertical takeoff and landing (eVTOL) aircraft.
This payment is seen as a significant validation for the emerging eVTOL industry and Archer's commercialization roadmap, demonstrating United's tangible commitment.
United Airlines views eVTOLs as crucial for achieving carbon neutrality by 2050 and enhancing urban travel convenience, aligning with investments by other major carriers in air taxi technology.

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United Airlines (NASDAQ: UAL) has paid Archer Aviation (NYSE: ACHR) $10 million dollars as part of a 2021 deal to purchase 100 electric vertical takeoff and landing (eVTOL) aircraft, the air taxi developer said Wednesday.

“The payment represents a watershed moment for the eVTOL industry, validating confidence in the commercialization of eVTOL aircraft and Archer’s leadership,” Archer said in a statement.