Overview
- Archer bought Los Angeles’ Hawthorne Airport for $126 million to anchor a planned regional air taxi network near LAX.
- The company says it has been selected as the exclusive air taxi provider for the LA 2028 Summer Olympics, setting up a public showcase.
- Recent piloted Midnight tests included a 55-mile flight averaging about 126 mph and additional flights surpassing 10,000 feet in altitude.
- Archer began flying Midnight in Abu Dhabi with partner Abu Dhabi Aviation and added Korean Air to its roster of collaborators.
- The company remains prerevenue with no 2025 sales expected, reporting Q3 operating expenses of $174.8 million and a $129.9 million net loss, while citing more than $2 billion in liquidity.