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Archer Aviation receives $10 million from United Airlines for 100 eVTOL aircraft

Archer Aviation (NYSE: ACHR) has received a $10-million pre-delivery payment from United Airlines for 100 of the company’s initial production electric vertical takeoff and landing (eVTOL) aircraft. This represents a deposit on aircraft which United agreed to purchase in 2021.

Archer is developing eVTOL aircraft for use in urban air mobility networks. The company recently completed its production aircraft’s Preliminary Design Review (PDR), a meticulous review of the aircraft design to ensure that the design is mature enough to proceed to the next development phase and to begin production of long-lead-time hardware. The PDR lays out all aspects of the aircraft’s specifications and manufacturing requirements, necessary pre-conditions to determine that the design is feasible for regulatory compliance and viable to bring to market.

United appears determined to be one of the first US airline operators to bring eVTOL aircraft into service. It has strongly supported Archer throughout the development process. Recently, United formed a Joint eVTOL Advisory Committee with Archer, allowing the parties to work more closely on eVTOL maintenance and operational matters. Committee members include Archer’s operations and maintenance leadership, as well as leadership from United’s maintenance, materials and engineering groups.

“To receive a cash deposit is validation of Archer’s achievements to date, not only with flight testing and product development, but also a great signal of confidence in our roadmap to commercialization,” said Adam Goldstein, Archer’s CEO. “We’re thankful to United for their continued partnership as we usher in this new era in air travel.”

“This announcement marks a new important phase in our relationship with Archer, and our commitment to eVTOL technology,” said Michael Leskinen, President of United Airlines Ventures. “United Airlines Ventures has invested in a diverse roster of companies working in support of our goal to reach carbon neutrality by 2050. We believe eVTOLs have the potential to help achieve carbon-neutral travel.”

Source: Archer Aviation

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