Archer Aviation Stock Climbs After United Airlines NYC Air Taxi Deal
Archer Aviation's stock rose over 2% following a partnership announcement with United Airlines to introduce electric air taxis in New York City. The collaboration aims to reduce travel time between Manhattan and regional airports to just 5-15 minutes. Archer plans to launch commercially by 2026, pending FAA certification and pilot tests. United Airlines will assist in infrastructure development for these urban flights. Further updates on certifications and pilot trials are expected during Archer's Q1 2025 earnings call on May 8.
April 18 - Archer Aviation climbed more than 2% on Thursday after unveiling a partnership with United Airlines to bring electric air taxis to New York City.
The deal aims to slash travel time between Manhattan and regional airports like JFK, LaGuardia, and Newark from up to two hours to just 5 to 15 minutes using Archer's electric vertical takeoff and landing (eVTOL) aircraft, Midnight. The four-seat aircraft will operate from helipads across Manhattan, providing a faster route through the city's congested traffic.
Archer said it is targeting a commercial launch by 2026 but must first secure type certification from the Federal Aviation Administration. That process verifies that the aircraft meets federal safety and design standards. The company also needs to conduct pilot test flights, but so far, Midnight has flown only autonomously.
United Airlines will support the infrastructure rollout to enable these short-haul urban flights, according to the company.
Archer expects to share more updates on certifications and pilot trials in its first-quarter 2025 earnings call, scheduled for May 8.
