Overview
- Archer bought control of Hawthorne Municipal Airport for $126 million, including the fixed-base operator and rights tied to the master lease running through 2055 on an 80‑acre site less than three miles from LAX.
- The company says liquidity now exceeds $2 billion after a roughly $650 million equity raise, a cash position it frames as larger than pure‑play eVTOL rivals.
- Management pitches Hawthorne as the flagship hub for a Los Angeles air taxi network, with the site expected to support operations for the 2028 Olympics where Archer has been named the exclusive air taxi provider.
- Archer remains pre‑revenue and loss‑making, reporting Q3 operating expenses of $174.8 million and a net loss of $129.9 million.
- FAA type certification is still pending even as Midnight has logged higher‑range and altitude test flights, begun demonstration flying in Abu Dhabi with Abu Dhabi Aviation, and added partners including Korean Air, with a reported order book near $6 billion.