Advanced Air Mobility Modern Flying News

Archer Agrees to Potential Air Taxi Sale Worth $580M

The electric vertical takeoff and landing (eVTOL) aircraft manufacturer could sell as many as 116 Midnight air taxis to Future Flight Global.

Wednesday, August 14, 2024 at 02:07 PM ET

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Archer and Future Flight Global plan to operate Archer’s Midnight air taxi in the U.S. and worldwide. [Courtesy: Archer Aviation]

Key Takeaways:

Archer Aviation signed a Memorandum of Understanding (MOU) with Future Flight Global (FFG) for the planned sale of up to 116 Midnight eVTOL air taxis, valued at up to $580 million.
FFG, a startup founded by former Titan Aviation executives, intends to operate Archer's Midnight aircraft for on-demand private flights for corporations, hotels, and high net worth individuals across global markets.
This agreement boosts Archer's conditional order book for its Midnight air taxi to nearly $6 billion and includes collaboration between the companies on ecosystem development, infrastructure, and regulatory engagement for future air taxi services.

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Electric vertical takeoff and landing (eVTOL) aircraft manufacturer Archer Aviation this week secured another purchase order agreement for its flagship Midnight air taxi.

The company on Tuesday said it signed a memorandum of understanding (MOU) with Future Flight Global (FFG), a startup that plans to operate eVTOL and other advanced air mobility (AAM) aircraft, for the planned sale of as many as 116 air taxis.

Jack Daleo

Jack is a staff writer covering advanced air mobility, including everything from drones to unmanned aircraft systems to space travel—and a whole lot more. He spent close to two years reporting on drone delivery for FreightWaves, covering the biggest news and developments in the space and connecting with industry executives and experts. Jack is also a basketball aficionado, a frequent traveler and a lover of all things logistics.