Signed definitive agreements to acquire control of one-of-a-kind aviation asset in LA, Hawthorne Airport, for $126M* in cash. The airport is located in the heart of the City, less than three miles from LAX, and the closest airport to some of the city’s biggest destinations — SoFi Stadium, The Forum, Intuit Dome, and Downtown LA.
Archer plans for the airport to serve as its operational hub for its planned LA air taxi network and, as a test bed for the AI-powered aviation technologies it is developing and plans to deploy with its airline and technology partners. United Airlines’ Chief Financial Officer, Michael Leskinen, remarked, “Archer’s trajectory validates our conviction that eVTOLs are part of the next generation of air traffic technology that will fundamentally reshape aviation. Their vision for an AI-enabled operations platform isn’t just about eVTOLs, it’s also about leveraging cutting-edge technology to better enable moving people safely and efficiently in our most congested airspaces. Through United’s investment arm, United Airlines Ventures, we’re investing in companies like Archer that pioneer technologies that will define and support aviation infrastructure for decades to come.”
Raised $650M of new equity capital, reinforcing Archer’s sector-leading balance sheet taking its total liquidity to now over $2B.
Showcased several key performance milestones with its Midnight aircraft– including flights surpassing 50 miles in range and 10,000 feet of altitude.
Closed acquisition of Lilium patent portfolio, expanding Archer’s global portfolio to over 1,000 assets, giving it one of the most robust portfolios in the industry.
Deployed aircraft in the UAE for test and demonstration flights and strengthened its international reach through marquee partnership announcements with Korean Air, as well as Japan Airlines’ and Sumitomo’s joint venture, Soracle, in Tokyo & Osaka.
