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United Airlines has made a $10 million deposit to Archer Aviation before delivering 100 electric air taxis with vertical take-off and landing capability.
| Teleprinter | Security | Last | To change | To change % |
|---|---|---|---|---|
| LAU | UNITED AIRLINES HOLDINGS INC. | 38.69 | +0.89 | +2.35% |
| ACHR | AIRCRAFT ARCHER | 4.23 | -0.14 | -3.20% |
Last year, United agreed to order up to 200 flying taxis from Archer to transport travelers to the airport quickly, safely and ideally with minimal environmental impact. The deal is worth around $1 billion, with an option to purchase additional aircraft worth $500 million.
“Receiving a cash deposit is a validation of Archer’s accomplishments to date, not only in flight testing and product development, but also a great signal of confidence in our roadmap to commercialization,” Archer CEO Adam Goldstein said in a statement. “We are grateful to United for their continued partnership as we usher in this new era of air travel.”
Archer recently completed a preliminary design review for its production aircraft, which it aims to launch as early as 2024.
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Once operational, Archer’s aircraft is expected to carry up to four United customers at a time up to 60 miles at speeds as fast as 150 miles per hour.
United estimates that Archer’s eVTOL aircraft could reduce CO2 emissions by 47% per passenger when traveling between Hollywood and Los Angeles International Airport (LAX), one of the first cities where Archer plans to fly. launch his fleet.
Archer Aviation plans a commercial launch of its eVTOL aircraft as early as 2024. (Archer Aviation)
“We believe eVTOLs have the potential to both help achieve carbon-neutral travel and serve as an innovative new tool to change the way United customers experience comfort, convenience and efficiency when traveling. travel to cities around the world,” said Michael Leskin, president of United Airlines Ventures. said in a statement.
Leskin told the Wall Street Journal that prices for the eVTOL service will be comparable to those for the Uber Black service, but could drop over time.
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The investment in Archer’s aircraft comes as United has set a goal of achieving carbon neutrality by 2050.
In addition to the aircraft order, United has formed a joint eVTOL advisory committee with Archer to collaborate on eVTOL maintenance and operational matters.
Vertical Aerospace founder and CEO Stephen Fitzpatrick told ‘The Claman Countdown’ that their electric planes can fly at 200 mph for short-haul travel and inner-city commutes.
United is not alone in looking to leverage eVTOL aircraft.
In July, American Airlines reserved delivery slots for Vertical Aerospace’s first 50 VX4 aircraft after placing a conditional pre-order of up to 250 aircraft. The $1 billion deal includes an option for 100 additional devices. The VX4 piloted electric aircraft will carry four passengers with zero operating emissions, minimal noise and at ranges of over 100 miles.
| Teleprinter | Security | Last | To change | To change % |
|---|---|---|---|---|
| AAL | AMERICAN AIRLINES GROUP INC. | 15.07 | +0.45 | +3.08% |
| EVTL | VERTICAL AEROSPACE | 8.05 | -0.13 | -1.59% |
At the time of the initial order, American announced plans to also make a $25 million investment in Vertical through a private equity investment (PIPE) transaction.
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