Archer has released its Shareholder Q1 2025 letter.
The main features include:
- UAE launch on track. The company plans to deliver its first Midnight aircraft to the UAE in the coming months for its planned deployment later this year. To support these launch efforts, the company recently secured design approval for the first hybrid heliport in the UAE located in Abu Dhabi.
- During the quarter, the company announced its first two customers: Abu Dhabi Aviation and Ethiopian Airlines.
- Archer recently hosted an event in NYC with United Airlines to share plans to connect Manhattan with nearby airports using Midnight aircraft, with the goal of allowing customers to replace one-to-two-hour drives with flights that take 5-15 minutes, potentially saving hours versus sitting in traffic.
- Total cash position surpasses USD1 billion. “Our Q1’25 capital raise further strengthened our balance sheet helping enable us to execute on early commercial deployment opportunities.”
- The first Midnight aircraft bound for the UAE is in flight testing. Scheduled to be delivered in the coming months.
For more information
https://s202.q4cdn.com/174276461/files/doc_financials/2025/q1/Archer-Shareholder-Letter-Q125-FINAL.pdf