Latest news with #MidnightAircraft
Yahoo
4 days ago
- Business
- Yahoo
Archer Announces Third "Launch Edition" Partner, Striking Deal to Deploy Midnight Aircraft in Indonesia
Archer and PT. Industri Ketahanan Nasional (IKN) signed an agreement covering plans to deploy an initial fleet of Midnight aircraft in Indonesia under Archer's Launch Edition program, valued at up to $18M1 In addition to air taxi services, the program will also explore a range of complementary use cases, including commercial and military logistics and environmental surveillance. The agreement also includes the planned purchase by PT. IKN of up to 50 Midnight aircraft, valued at up to $250M2, for deployment in Indonesia to support plans to scale air taxi services across the country The companies intend to work closely with the Directorate General of Civil Aviation of Indonesia (DGCA) to shape the regulatory framework to enable the Launch Edition program and then operate a safe, efficient air taxi service. PARIS, June 16, 2025--(BUSINESS WIRE)--Archer Aviation Inc. (NYSE: ACHR) announced today that it has signed an agreement with PT. IKN covering plans to deploy an initial fleet of Midnight aircraft in Indonesia, making it the third country in which Archer is planning to deploy Midnight under its "Launch Edition" program. PT. IKN is an Indonesian company dedicated to advancing national resilience through innovation in strategic industries, including advanced manufacturing, infrastructure and sustainable technologies through partnerships with government and industry to strengthen local capabilities and support long-term national development. As with Archer's other Launch Edition partners, the goal of this program is to establish a pragmatic and repeatable commercialization playbook to deploy Midnight in early adopter markets in advance of type certification in the U.S. In addition to Indonesia, Archer has already announced planned Launch Edition program deployments in the UAE, with Abu Dhabi Aviation, and Ethiopia, with Ethiopian Airlines. The program aims to establish local operational capabilities and launch commercial air taxi services in the country as soon as possible. In addition to air taxi services, the parties intend to explore a range of complementary use cases such as logistics and environmental surveillance, including in support of the development of Indonesia's new capital city, Ibu Kota Nusantara (IKN). The scope of Archer's planned Launch Edition program with PT. IKN includes the deployment of an initial fleet of Midnight Launch Edition aircraft to Indonesia with a supporting team of Archer pilots, technicians and engineers. Archer also plans to provide backend operational software and front-end booking applications to help power operations during the program. The partners intend to collaborate closely with the DGCA to help build necessary regulatory frameworks and improve existing infrastructure to enable the Launch Edition program and subsequent safe entry into service. The Launch Edition deployment comes with plans for an aircraft order by PT. IKN of up to 50 Midnight aircraft, valued at up to $250M2, with the goal of commercializing and scaling the Indonesian market after establishing early operations. Yudiansah Yosal, PT. IKN's Chairman said, "At PT. IKN we see enormous benefit in bringing new technologies to Indonesia. Our goal is to deploy Archer's Midnight aircraft not only for passenger mobility throughout our many islands but also for environmental oversight use cases. We're excited to bring this innovation to Indonesia and to work together with Archer to build a sustainable and scalable air mobility ecosystem." Major General TNI Piek Budyakto Pangdam IX / Udayana said, "eVTOL aircraft like Archer's Midnight offer capabilities for both civilian and military use cases. In the civilian sector, these aircraft can potentially be used for transportation, rescue and various other purposes such as delivery of goods and air taxi transport. On the military side, they can potentially be used for medical evacuation, delivery of supplies and special operations in difficult to reach areas. The partnership between Archer and PT. IKN is in line with our vision to work towards a more adaptive and modern military infrastructure that embraces innovative technologies." Archer Founder and CEO Adam Goldstein said, "The level of demand for our 'Launch Edition' program continues to grow. Indonesia represents a tremendous opportunity for our Midnight aircraft both in the near and long-term, with thousands of islands, a booming tourism sector and the development of a new capital city, Ibu Kota Nusantara. We look forward to working together to demonstrate how Midnight can support missions in the country." About Archer Archer is designing and developing the key enabling technologies and aircraft necessary to power the future of aviation. To learn more, visit About PT. Industri Ketahanan Nasional PT. Industri Ketahanan Nasional is a strategic enterprise committed to strengthening Indonesia's resilience through innovation in advanced manufacturing, sustainable infrastructure, and critical technologies. As a trusted partner of both government and private sector entities, they focus on developing and delivering high-impact locally driven solutions that enhance Indonesia's long-term economic, security and industrial self sufficiency. Source: Archer AviationText: ArcherIR Archer Forward-Looking Statements This press release contains forward looking statements regarding Archer's business plans and expectations, including statements regarding Archer's aircraft performance, the pace at which Archer intends to develop, certify, manufacture and commercialize its aircraft, the expected benefits, amount and timing of anticipated revenue and scalability of the "Launch Edition" program and associated deployment of aircraft, anticipated use cases for Archer's aircraft, potential value of its aircraft order with PT. IKN, business opportunities, planned infrastructure and operations in the customer's geographic regions, ability to attract customers, and international expansion. In addition, this press release refers to an agreement for the Launch Edition program that is conditioned on the future execution by the parties of additional binding definitive agreements incorporating the terms outlined in this agreement, which definitive agreements may not be completed or may contain different terms than those set forth in this agreement. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors. The risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed in Archer's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K, which is or will be available at In addition, please note that any forward-looking statements contained herein are based on assumptions that Archer believes to be reasonable as of the date of this press release. Archer undertakes no obligation to update these statements as a result of new information or future events. ____________________ 1 Our agreement with this Launch Edition program partner remains conditional, subject to the execution of further definitive agreements and the satisfaction of certain conditions. 2 Aircraft orders remain conditional, subject to the execution of further definitive agreements and the satisfaction of certain conditions. Order values represent the Company's estimate based on an indicative $5M per aircraft price. View source version on Contacts Archer Media Contacts The Brand Amp - Archer@ Sign in to access your portfolio
Globe and Mail
13-06-2025
- Business
- Globe and Mail
Why Shares of Archer Aviation Took Flight This Week
Since last Friday, shares of the electric vertical take-off and landing (eVTOL) aircraft company Archer Aviation (NYSE: ACHR) traded about 15% higher, as of the close of trading on Thursday. The company conducted more successful testing, received positive sentiment from Wall Street, and President Donald Trump's administration issued executive orders that could benefit Archer. More progress on testing Cantor Fitzgerald issued a research note earlier this week, maintaining its overweight rating on the stock and issuing a $13 price target. Analyst Andres Sheppard said the company recently conducted a successful piloted test of its Midnight aircraft. The Midnight reached a cruising speed of 125 miles per hour and an altitude of over 1,500 feet. Archer also announced Thursday that it recently completed a piloted transition flight. The company describes this flight as one that "occurs when the aircraft takes off vertically like a helicopter, accelerates forward, transitions from thrust-borne to wing-borne flight like an airplane with tilt propellers forward, before decelerating and landing vertically." On Wednesday, the Trump administration also issued several executive orders on drones, flying cars, and supersonics. Specifically, one order creates a pilot program to test eVTOLs for air taxis, cargo, and defense logistics. For Archer to eventually set up air taxis for commercial use, it will need regulators to sign off, so the Trump administration's support is a good sign. Compelling and expensive Archer has shown tremendous promise. Not only has its Midnight aircraft achieved many regulatory and operational milestones, but the company has also secured contracts with the Department of Defense through its partnership with Anduril. If commercial air taxis becomes a massive new sector, Archer will likely be one of the few companies that can quickly gobble up market share. However, the company is not yet profitable and already trades at a $6.4 billion market cap, making it tough to go all in just yet. I would start with a smaller, speculative position and build it as Archer achieves regulatory milestones and other big accomplishments. Should you invest $1,000 in Archer Aviation right now? Before you buy stock in Archer Aviation, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Archer Aviation wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $657,871!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $875,479!* Now, it's worth noting Stock Advisor 's total average return is998% — a market-crushing outperformance compared to174%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 9, 2025
Yahoo
21-05-2025
- Business
- Yahoo
A short-seller has challenged Jimmy Fallon to a $1 million bet over an air-taxi company he's promoted
A short-seller betting against Archer Aviation is also offering a popular celebrity backer a "friendly wager." Culper Research said it was shorting Archer stock because it believed the firm "misled" investors about its aircraft. If Fallon accepts Culper's bet, he and three others need to take a flight on an Archer Midnight. A short-seller is betting against the stock of Archer Aviation — and is offering a prominent celebrity backer of the company a chance to put his money where his mouth is. Culper Research offered "The Tonight Show" host Jimmy Fallon $1 million to take a flight on an aircraft made by a company he's promoted on his show. In a new report outlining its short bet, Culper said it was shorting Archer shares due to its belief that the air taxi company had misrepresented its progress to investors on developing and testing its Midnight Aircraft. The report also claims that Fallon was being paid for promoting Archer on his TV show. Culper says Archer CEO Adam Goldstein paid "millions" to appear on The Tonight Show, referring to a recent interview Fallon conducted with Goldstein about the air taxi company's Olympic partnership. Culper also pointed to Fallon's appearance at a recent promotional event held by Archer in New York. The short-seller said it was "extending a friendly wager" to Fallon to take an FAA-compliant commercial flight on an Archer Midnight with a pilot and three other people. If Fallon accepts, the flight will need to take place before July 30, 2028, which will mark the end of the Olympics. The bet would entail Culper and Fallon each setting aside $1 million in escrow. If Fallon agrees to the terms and takes the flight, he'll get the combined $2 million. If Fallon refuses, the firm said it would take the money and donate it to four charities in New York City and Los Angeles. "Jimmy — we propose you set aside a portion of the money that you've made promoting Archer — both on your show, and via your appearance at the Company's recent NYC event — and match us," Culper said. "If you truly believe in what you're being paid to promote to the general public, prove it." Representatives for The Tonight Show and Archer Aviation did not immediately respond to a request for comment. Culper Research founder Christian Lamarco declined to comment further. Culper Research, a short-seller founded by Lamarco in 2019 and based in New York City, said it believed Archer's promotions have concealed "far more deep-seated problems" with its Midnight aircraft. The short-seller said it obtained recent email conversations between Archer's flight test team and the City of Salinas Fire Department, which showed that the air taxi company didn't have the Midnight aircraft until early March, though it publicly claimed that the aircraft was "fully assembled" in late February. Culper said the Salinas Fire Department also took photos of Archer's Midnight in April, which showed that the aircraft was "in a state of disrepair." Culper also said it had "investigators" stationed nearby Archer's Salinas and Watsonville locations. The investigators saw that the company only conducted one low-speed ground run in an eight-day period, during which the aircraft never took flight. The firm said it believed the aircraft was "nowhere close to flying." The FAA issued a public inspection for the final airworthiness criteria for Archer's Midnight in May 2024. That gives Archer the ability to work with the regulatory agency to obtain the last remaining approvals as it tries to get its Midnight aircraft certified. Read the original article on Business Insider
Yahoo
21-05-2025
- Business
- Yahoo
A short-seller has challenged Jimmy Fallon to a $1 million bet over an air-taxi company he's promoted
A short-seller betting against Archer Aviation is also offering a popular celebrity backer a "friendly wager." Culper Research said it was shorting Archer stock because it believed the firm "misled" investors about its aircraft. If Fallon accepts Culper's bet, he and three others need to take a flight on an Archer Midnight. A short-seller is betting against the stock of Archer Aviation — and is offering a prominent celebrity backer of the company a chance to put his money where his mouth is. Culper Research offered "The Tonight Show" host Jimmy Fallon $1 million to take a flight on an aircraft made by a company he's promoted on his show. In a new report outlining its short bet, Culper said it was shorting Archer shares due to its belief that the air taxi company had misrepresented its progress to investors on developing and testing its Midnight Aircraft. The report also claims that Fallon was being paid for promoting Archer on his TV show. Culper says Archer CEO Adam Goldstein paid "millions" to appear on The Tonight Show, referring to a recent interview Fallon conducted with Goldstein about the air taxi company's Olympic partnership. Culper also pointed to Fallon's appearance at a recent promotional event held by Archer in New York. The short-seller said it was "extending a friendly wager" to Fallon to take an FAA-compliant commercial flight on an Archer Midnight with a pilot and three other people. If Fallon accepts, the flight will need to take place before July 30, 2028, which will mark the end of the Olympics. The bet would entail Culper and Fallon each setting aside $1 million in escrow. If Fallon agrees to the terms and takes the flight, he'll get the combined $2 million. If Fallon refuses, the firm said it would take the money and donate it to four charities in New York City and Los Angeles. "Jimmy — we propose you set aside a portion of the money that you've made promoting Archer — both on your show, and via your appearance at the Company's recent NYC event — and match us," Culper said. "If you truly believe in what you're being paid to promote to the general public, prove it." Representatives for The Tonight Show and Archer Aviation did not immediately respond to a request for comment. Culper Research founder Christian Lamarco declined to comment further. Culper Research, a short-seller founded by Lamarco in 2019 and based in New York City, said it believed Archer's promotions have concealed "far more deep-seated problems" with its Midnight aircraft. The short-seller said it obtained recent email conversations between Archer's flight test team and the City of Salinas Fire Department, which showed that the air taxi company didn't have the Midnight aircraft until early March, though it publicly claimed that the aircraft was "fully assembled" in late February. Culper said the Salinas Fire Department also took photos of Archer's Midnight in April, which showed that the aircraft was "in a state of disrepair." Culper also said it had "investigators" stationed nearby Archer's Salinas and Watsonville locations. The investigators saw that the company only conducted one low-speed ground run in an eight-day period, during which the aircraft never took flight. The firm said it believed the aircraft was "nowhere close to flying." The FAA issued a public inspection for the final airworthiness criteria for Archer's Midnight in May 2024. That gives Archer the ability to work with the regulatory agency to obtain the last remaining approvals as it tries to get its Midnight aircraft certified. Read the original article on Business Insider
Business Insider
20-05-2025
- Business
- Business Insider
A short-seller has challenged Jimmy Fallon to a $1 million bet over an air-taxi company he's promoted
A short-seller betting against Archer Aviation is also offering a popular celebrity backer a "friendly wager." Culper Research said it was shorting Archer stock because it believed the firm "misled" investors about its aircraft. If Fallon accepts Culper's bet, he and three others need to take a flight on an Archer Midnight. Culper Research offered "The Tonight Show" host Jimmy Fallon $1 million to take a flight on an aircraft made by a company he's promoted on his show. In a new report outlining its short bet, Culper said it was shorting Archer shares due to its belief that the air taxi company had misrepresented its progress to investors on developing and testing its Midnight Aircraft. The report also claims that Fallon was being paid for promoting Archer on his TV show. Culper says Archer CEO Adam Goldstein paid "millions" to appear on The Tonight Show, referring to a recent interview Fallon conducted with Goldstein about the air taxi company's Olympic partnership. Culper also pointed to Fallon's appearance at a recent promotional event held by Archer in New York. The short-seller said it was "extending a friendly wager" to Fallon to take an FAA-compliant commercial flight on an Archer Midnight with a pilot and three other people. If Fallon accepts, the flight will need to take place before July 30, 2028, which will mark the end of the Olympics. The bet would entail Culper and Fallon each setting aside $1 million in escrow. If Fallon agrees to the terms and takes the flight, he'll get the combined $2 million. If Fallon refuses, the firm said it would take the money and donate it to four charities in New York City and Los Angeles. "Jimmy — we propose you set aside a portion of the money that you've made promoting Archer — both on your show, and via your appearance at the Company's recent NYC event — and match us," Culper said. "If you truly believe in what you're being paid to promote to the general public, prove it." Culper Research, a short-seller founded by Lamarco in 2019 and based in New York City, said it believed Archer's promotions have concealed "far more deep-seated problems" with its Midnight aircraft. The short-seller said it obtained recent email conversations between Archer's flight test team and the City of Salinas Fire Department, which showed that the air taxi company didn't have the Midnight aircraft until early March, though it publicly claimed that the aircraft was "fully assembled" in late February. Culper said the Salinas Fire Department also took photos of Archer's Midnight in April, which showed that the aircraft was "in a state of disrepair." Culper also said it had "investigators" stationed nearby Archer's Salinas and Watsonville locations. The investigators saw that the company only conducted one low-speed ground run in an eight-day period, during which the aircraft never took flight. The firm said it believed the aircraft was "nowhere close to flying."
