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 has paid Archer Aviation $10 million as an advance on a 2021 deal to purchase 100 electric vertical takeoff and landing (eVTOL) aircraft.
This payment is considered by Archer Aviation as a significant validation of the emerging eVTOL industry's commercialization prospects and Archer's leadership, countering industry skeptics.
United Airlines views eVTOLs as key to achieving its 2050 carbon neutrality goal and enhancing customer comfort, convenience, and efficiency for urban commutes.
The investment by United reflects a broader trend, with other major airlines like JetBlue, American Airlines, and UPS also investing in or partnering with eVTOL developers.

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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.