Archer Aviation (ACHR) stock jumped 1.3% in after-hours trading yesterday, following the successful completion of an in-country flight test campaign for its Midnight eVTOL (electric vertical takeoff and landing) aircraft at Al Bateen Executive Airport in Abu Dhabi.
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The test showcased Midnight’s full eVTOL flight envelope, including vertical takeoff, transition, and wing-borne flight, in the UAE’s local operating environment and over desert areas. The Midnight eVTOL aircraft is a piloted, four-passenger vehicle designed to offer rapid, low-noise, and sustainable urban air transportation, aiming to replace conventional car commutes of 60 to 90 minutes with 10 to 20-minute flights.
Archer Achieves Key Milestone
This achievement marks a major milestone in Archer’s Launch Edition commercialization program in the UAE. Following the successful flight campaign, Archer has started receiving payments from Abu Dhabi Aviation under their Launch Edition agreement. The campaign underscores Archer’s commitment to advancing urban air mobility and preparing for commercial deployment in the UAE, a key early-adopter market.
Commenting on the success, Archer’s founder and CEO Adam Goldstein said, “We designed Midnight to be able to handle challenging weather environments like the UAE with its sand and heat, and it delivered the results we expected it to across all phases of flight.”
Expanding Electric Air Mobility in the UAE
Archer has partnered with Abu Dhabi Aviation (ADA), the largest commercial helicopter operator in the Middle East, to establish the region’s first electric air taxi service. The ADA has committed to deploying an initial fleet of Midnight aircraft, alongside providing pilot training, flight operations expertise, and community engagement support.
This initiative is backed by key UAE groups like the Smart and Autonomous Systems Council, the Civil Aviation Authority, and the Abu Dhabi Investment Office. Together, they aim to make Abu Dhabi a leading city for innovative and sustainable urban air transportation.
Is ACHR a Good Stock to Buy?
Analysts remain optimistic about Archer’s long-term outlook. On TipRanks, ACHR stock has a Strong Buy consensus rating based on four Buys and one Hold rating. The average Archer Aviation price target of $12.20 implies 53.3% upside potential. Over the past year, ACHR stock has surged nearly 86%.
