Mentioned:
Archer Aviation has just cut a new deal to bring their aircraft to Asia. And they’re partnering up with one of the biggest airlines in the country to do it.
What’s happening:
- Archer Aviation (NYSE: ACHR) has landed a new deal with Korean Air to commercialize their Midnight electric vertical takeoff and landing aircraft
By the numbers:
- Korean Air has committed to purchasing up to 100 Midnight aircraft from Archer Aviation
Why it matters:
- This is one of the largest deals Archer Aviation has ever done to expand into Asia
Going deeper:
- Korean Air has publicly stated they will collaborate with Archer Aviation on using their Midnight aircraft for multiple different government uses including defense, logistics and even public transportation
- Archer Aviation has been landing a flurry of new international deals lately, including previously securing an $18M USD purchase agreement with PT. Industri Ketahanan Nasional to deploy their Midnight aircraft in Indonesia
