Archer Aviation receives FAA certification to begin commercial air taxi operations (2024)
One week after sharing plans to bring commercial eVTOL operations to South Korea, advanced air mobility developer Archer Aviation is touting a key milestone in the US. The eVTOL air taxi manufacturer has received Part 135 certification from the FAA – a vital certificate to begin commercial flights – and Archer is now one of two air taxi companies worldwide to confirm the receipt of one.
Archer Aviation($ACHR)is a Santa Clara, California-based eVTOL developer that continues to pepper the public with milestones reached in both its native US and around the world.
During a Q2 2023 call with investors last summer, Archer reported that its flagship Midnight eVTOL aircraft had receiveda Special Airworthiness Certificate from the Federal Aviation Administration. This means the aircraft has met all FAA safety requirements and can begin flight tests.
With(special) airworthiness certification from the FAAalready in place and investments from big names like United Airlines, Stellantis, andeven the US Air Force, Archer has also begun expanding to new regions around the globe in recent years.
In the fall of 2023, Archer announced plans to launch eVTOL air taxi servicesacross the United Arab Emirates. This was followed by a deal to bringair taxi operations to India and bolstered plans in the UAE in a new dealworth an estimated $500 million.
Just last week, Archer announced a new partnership with KaKaoMobility in South Korea to begin commercial eVTOL air taxi operations in the country by 2026.
While those international expansions continue, Archer has moved one step closer to commercial eVTOL air taxi operations in the United States thanks to a new FAA certification.
Archer Air is FAA certified, but its Midnight air taxi isn’t yet
Archer Aviation detailed exactly what its latest FAA certification means for the sustainable air mobility developer. The company’s airline subsidiary, Archer Air, has received its Part 135 Air Carrier & Operator Certificate from the FAA, enabling it to begin operating aircraft commercially. Per the release:
The Part 135 certificate signals that Archer Air has developed, and demonstrated to the FAA its adherence to, the necessary policies and procedures to begin operating aircraft commercially in accordance with the stringent safety and operational standards set forth by the FAA. Today’s achievement is another key step that demonstrates Archer’s work with the FAA continues to gain momentum as Archer is now one of two air taxi manufacturers in the world to have announced receipt of a Part 135 certificate from the FAA.
While Archer Air is now certified for commercial operations, its Midnight eVTOL is not. Archer is still seeking Type certification for its eVTOL air taxi aircraft and said now that its Part 135 is in place, it will begin with conventional aircraft to refine its airline systems and procedures before launching the Midnight air taxis into service for United Airlines and others.
The company will simultaneously continue to pursue Typer certification for Midnight while it establishes key factors like repair and charging infrastructure and vertiports. Archer states the FAA has issued the final airworthiness criteria for its Midnight aircraft, setting the rigorous to-do list for Archer to comply with so it can begin commercial air taxi rides with its flagship four-passenger eVTOL.
Archer hasn’t shared a hard timeline for when the Midnight will receive its Type certification, but Part 135 and Part 134 (repairs) certs in place is a big step for an exciting air taxi company. Archer founder and CEO Adam Goldstein shared a similar sentiment:
We are honored to receive the Part 135 Air Carrier & Operator Certificate from the FAA, which is another important stepping stone on the way to commencing commercial air taxi operations with our Midnight aircraft. This milestone reflects our team’s unwavering dedication to safety and operational excellence as we stand up one of the world’s first electric air taxi services, providing communities across the U.S. with a safe, sustainable, and low-noise transportation solution.
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Archer Aviation, a leader in electric vertical take-off and landing (eVTOL) aircraft, has announced its subsidiary, Archer Air, has received its Part 135 Air Carrier & Operator Certificate from the Federal Aviation Administration (FAA).
Archer Aviation is one of the leading developers of electric vertical takeoff and landing aircraft, aka flying taxis, which could transform urban travel as we know it. Flying taxis could transform transportation as we know it, and Archer Aviation (ACHR -3.47%) is one company looking to bring it to the masses.
The company is off to a solid start in 2024, but that may not be enough to consider the stock a good investment right now. Shares can certainly rally from here, but I believe it's too early to turn very bullish. Investors buying into Archer Aviation today will need some patience with a long-term time horizon.
History. Archer was founded on October 16, 2018, by Brett Adco*ck and Adam Goldstein to develop electric vertical takeoff and landing aircraft. The company was originally started by Adco*ck and Goldstein and privately funded. Later, Marc Lore, a Walmart executive, also supported its launch.
Air Taxi. (AT) Aircraft designed to have a maximum seating capacity of 60 seats or less or a maximum payload capacity of 18,000 pounds or less, carrying passengers or cargo for hire or compensation.
Archer has an employee rating of 3.6 out of 5 stars, based on 61 company reviews on Glassdoor which indicates that most employees have a good working experience there. The Archer employee rating is in line with the average (within 1 standard deviation) for employers within the Aerospace & Defense industry (3.6 stars).
The ownership structure of Archer Aviation (ACHR) stock is a mix of institutional, retail and individual investors. Approximately 49.07% of the company's stock is owned by Institutional Investors, 31.32% is owned by Insiders and 19.61% is owned by Public Companies and Individual Investors.
To Our Valued Archer Customers, As you may have heard, yesterday we announced that Archer has been acquired by Cinven, a leading private-equity firm with extensive experience of sponsorship across a portfolio of companies valued at over $40 billion.
Archer's headquarters in Santa Clara, CA which is home to Archer's team of over 700+ employees. Several members of Archer's engineering team celebrate a recent flight test milestone together.
Archer has landed a $215 million equity investment from industry leaders Stellantis, Boeing and United Airlines, as well as other financial institutions, including ARK Invest, increasing the company's total funding to over $1.1 billion to date, received FAA approval to begin flying its Midnight eVTOL aircraft, and ...
Key Points. Archer Aviation is one of the leading companies developing electric vertical and takeoff landing aircraft (eVTOL). These vehicles, also known as flying taxis, have the potential to change urban transportation as we know it.
Archer's demonstrator aircraft, Maker, can fly up to 60 miles at top speeds of 150 mph. The company's Midnight aircraft has a range of 100 miles, though Archer aims to use it for shorter distances.
This isn't just science fiction. United Airlines has plans for these futuristic electric air taxis in Chicago and New York. The U.S. military is already experimenting with them. And one company has a contract to launch an air taxi service in Dubai as early as 2025.
Dubai: The RTA air taxi service that will be operational by the end of next year promises safe and fast mobility between the major cities in the Emirate. It would cost at least 350 dirhams per person to travel in the aerial taxis.
As urban air mobility gains momentum as a sustainable urban transport solution, the role of pilots in operating air taxis, particularly eVTOL vehicles, becomes increasingly crucial.
Nap-of-the-earth (NOE) is a type of very low-altitude flight course used by military aircraft to avoid enemy detection and attack in a high-threat environment. Other, mostly older terms include "contour flying", "ground-hugging", "terrain masking", "flying under the radar" and "hedgehopping".
According to Archer Aviation's latest financial reports the company has $0.40 B in cash and cash equivalents. A company's cash on hand also refered as cash/cash equivalents (CCE) and Short-term investments, is the amount of accessible money a business has.
Hedge funds don't have many shares in Archer Aviation. Stellantis N.V. is currently the company's largest shareholder with 13% of shares outstanding. Adam Goldstein is the second largest shareholder owning 11% of common stock, and ARK Investment Management LLC holds about 9.3% of the company stock.
The Archer Company is a leading human resources consulting firm specializing in the development and implementation of compensation and classification systems for local governments and public sector organizations.
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