Archer Aviation Partners With Korean Air For EVTOL Air Taxi Launch

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(RTTNews) - Archer Aviation (ACHR) announced a partnership with Korean Air to deploy its Midnight electric air taxis in South Korea, with the airline potentially purchasing up to 100 aircraft.

The collaboration aims to support both government and commercial applications as Archer moves toward broader global adoption.

The company said the Midnight aircraft, designed for 10-20 minute urban flights, recently completed high-altitude performance tests. Archer's investors include Boeing and Stellantis, and it currently produces six aircraft at its U.S. facilities.

The deal strengthens Archer's foothold in the fast-growing eVTOL sector, where competitors are racing for certification and partnerships to enable urban air mobility services. Archer's customer list already includes United Airlines and India's IndiGo owner.

The company projects a third quarter adjusted EBITDA loss of $110 million - $130 million, compared with last year's $93 million loss, but continues to expand its intellectual property portfolio; recently acquiring Lilium's 300-patent portfolio for €18 million, bringing its total to over 1,000 patent assets.

Monday ACHR closed at $11.98, up 6.58%, and currently trades after hours at $12.04, up 0.50%, on the NYSE.