April 18 - Archer Aviation (NYSE:ACHR) climbed more than 2% on Thursday after unveiling a partnership with United Airlines (NASDAQ:UAL) 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.
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