London – Archer Aviation Inc. and Future Flight Global (FFG) today announced an agreement focused on deploying electric vertical takeoff and landing (eVTOL) aircraft services in key global markets. The agreement includes FFG’s planned purchase of up to 116 Midnight aircraft from Archer, valued at up to $580 million. This brings Archer’s indicative order backlog to $6 billion. The two companies are now working to formalize definitive agreements covering the planned aircraft purchases and strategic operating alliance, with nearly $5 million in pre-delivery payments planned upon completion.
Archer’s Midnight electric vertical takeoff and landing aircraft is designed to offer passengers a sustainable, quiet and safe alternative to ground transportation. Archer’s goal is to transform urban travel, replacing 60-90 minute car journeys in traffic with electric air taxi flights estimated at 10-20 minutes.
Archer and FFG plan to launch air taxi services in some of the world’s largest markets, including Southeast Asia, Europe and the Middle East. First, FFG will operate select routes within Archer’s planned air taxi service, leveraging the existing vertiport infrastructure network.
FFG will also seek to deploy Midnight to provide on-demand transit to its highest value customers, including businesses, hotels, governments and high net worth individuals. To support these plans, Archer and FFG will work together on ecosystem development, infrastructure, regulatory engagement and demand generation. “
The aviation industry is on the cusp of its most exciting revolution in decades,” said Karan Singh, CEO and founder of FFG. “We are partnering with Archer to provide flexible, customized aviation services to our premier customers in some of the world’s most exciting destinations. Midnight’s versatility makes it suitable for a variety of routes and mission profiles, while delivering a world-class experience and operational efficiency that is attractive to our corporate customers.”
“This new agreement increases our potential backlog to nearly $6 billion and opens Archer’s global reach to premium international markets,” said Andrew Cummins, director of corporate development at Archer. “As our first private aviation partner and with their deep aviation ties and bold approach, FFG is positioned to be a new leader in modern aviation. Partnering with Karan and the FFG team was an obvious choice and an ideal relationship for Archer.”
ABOUT ARCHER
Archer is a leader in the electrification of aviation. Designing and developing the key enabling technologies and aircraft needed to power the next great revolution in transportation. Their goal is for our proprietary technology to deliver unprecedented connectivity to people and places in the world’s most congested cities. To learn more, visit www.archer.com.
ABOUT FUTURE FLIGHT GLOBAL
Future Flight Global (FFG) is a pioneer in the adoption, implementation and integration of advanced air transportation. They provide innovative, sustainable and safe mobility solutions that seamlessly connect the world. FFG leverages its extensive knowledge of the aviation operations ecosystem to drive advancements in this emerging industry and lead the third aerospace revolution.