Overview

• Korean Air will work with Archer to commercialize the Midnight aircraft in South Korea across multiple use cases, starting with government applications.
• Archer’s Midnight is a piloted, four-passenger eVTOL designed for short 10–20 minute hops and recently completed performance flights that included two of its highest-altitude tests.
• The company is producing six aircraft at two U.S. plants and is backed by Boeing and Stellantis, with United Airlines and the owner of India’s IndiGo listed as customers.
• Archer last week acquired about 300 advanced air mobility patents from Lilium for €18 million, expanding its portfolio to more than 1,000 patent assets.
• The company remains unprofitable and projects a third-quarter adjusted EBITDA loss of $110 million to $130 million.