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 part of a 2021 agreement to purchase 100 electric vertical takeoff and landing (eVTOL) aircraft.
This payment is considered a significant validation for the emerging eVTOL industry and Archer's commercialization roadmap, addressing skepticism about the initial deal's commitment.
United views eVTOLs as crucial for its goal of carbon neutrality by 2050 and enhancing customer travel convenience, with other major airlines also investing in similar technologies.

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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.