Hawthorne Airport Acquisition
Archer Aviation has signed definitive agreements to acquire control of Hawthorne Airport in Los Angeles, providing a strategic hub for air taxi operations, especially ahead of the LA28 Olympic Games. The airport is already profitable and offers significant expansion opportunities.
Successful Equity Raise
Archer raised $650 million in new equity capital, reinforcing its balance sheet with over $2 billion in liquidity, providing strategic advantages for future opportunities.
Midnight Aircraft Testing Milestones
Midnight aircraft achieved significant testing milestones, including flights over 55 miles, flight times exceeding 30 minutes, altitudes up to 10,000 feet, and speeds over 150 mph. The aircraft also demonstrated its capabilities at the California International Air Show.
International Expansion and Partnerships
Archer solidified partnerships with Korean Air and Japan Airlines, which selected Archer as their exclusive air taxi partner. Archer also progressed with its Launch Edition program in the UAE, receiving initial payments for commercial operations.
Lilium Patent Portfolio Acquisition
Archer acquired Lilium's patent portfolio, enhancing its technological capabilities in ducted fan propulsion and advanced flight controls, and expanding its global patent assets to over 1,000.
Defense Opportunities
Archer is actively engaged in developing hybrid electric VTOL aircraft for defense, with promising engagement from allied countries worldwide.