Archer Aviation (ACHR) shares slipped again this week, despite the company announcing a new partnership that could expand its global reach. The stock fell 8.25% on Tuesday to $9.56, following a 7.1% drop the previous day. The pullback comes just before the company reports earnings on November 6, with analysts expecting a per-share loss of $0.30 for the quarter.
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New Partnership in Japan
Today, Archer announced that the Tokyo Metropolitan Government selected a Japan Airlines-led group, which includes Archer, Sumitomo Corporation, and their joint venture Soracle, to join the first phase of Tokyo’s “eVTOL Implementation Project.” The project will prepare the city for electric air taxi services, using Archer’s Midnight aircraft as the model for early test flights.
The first stage of the plan will focus on building a flight network and running trial routes over Tokyo Bay and nearby rivers. These steps will help Japan Airlines and Archer establish a system that can support full-scale operations later this decade.
Archer CEO Adam Goldstein described the project as an important step toward making urban air travel a normal part of city life. The company stated that it continues to see growing interest across Asia, following recent deals in South Korea and other markets.
CEO Shares Roadmap for Revenue and Flights
To ease some investors’ tension, in a recent Bloomberg Businessweek Daily interview, Goldstein also provided a clearer view of the company’s next phase. He said Archer expects to start recognizing revenue in early 2026 as it moves from research to early operations. Initial sales will be small, but he expects steady growth from thereon.
Goldstein added that full-scale passenger flights are planned for 2028 once the company completes certification and builds the required support network. Test flights for the Midnight aircraft are set to begin in mid-2026, and Archer plans to name five launch cities soon across both the U.S. and international markets.
He also noted that talks with the Federal Aviation Administration are continuing, although progress has slowed due to the current government shutdown. To offset delays, Archer is working with overseas partners such as the United Arab Emirates to speed up its entry into commercial service.
Earnings in Focus
Investors will be watching the upcoming earnings report for signs of progress toward these goals. While Archer remains unprofitable, analysts have kept a Strong Buy consensus on the stock, citing its growing partnerships and steady manufacturing progress.
Despite this week’s slide, Archer shares have risen more than 190% in the past year, supported by investor interest in the electric vertical takeoff and landing market. As the company prepares to outline its next steps, attention will likely remain on its certification timeline and new global deals like the one announced in Tokyo.
Is Archer Aviation Stock a Good Buy?
On Wall Street, analysts remain optimistic about the company’s prospects. Based on six recent ratings, Archer Aviation boasts a “Strong Buy” consensus with an average 12-month price target of $13.67. This implies a 42.99% upside from the current price.
