Sun, Nov 26, 2023
eVTOL Game Just Keeps Heating Up
Archer Aviation left the Dubai Air Show holding some pretty juicy order forms covering more than $500 million in business for their Midnight aircraft.
The buyer of 100 Midnight eVTOL aircraft is Emirati operator Air Chateau, who signed a memorandum of understanding covering the purchase with an initial non-refundable pre-delivery payment of $1 million. Additional funding in pre-delivery payments is “contemplated to be paid following signing” according to official press. Air Chateau is hoping that their plane in line with one of the more promising AAM manufacturers will pay off in spades once the Midnight eVTOL reaches certification. The firm was an early adopter of rotary wing aircraft in the UAE, being the first to have its own private heliport and terminal at the landward side of the Al Maktoum International Airport.
“It was an honor hosting Air Chateau’s team at the Dubai Air Show 2023 during which they were able to touch, see and feel our aircraft as it headlined the show,” said Archer Founder and CEO, Adam Goldstein. “Their recognition that our Midnight aircraft meets what the customer demands in the UAE market and desire to secure the purchase of up to 100 Midnight aircraft is another exciting validation of our efforts to bring to market an aircraft that will revolutionize how people move in and around cities.”
“This remarkable opportunity signifies the ongoing evolution of Air Chateau, heralding a transformative era in our industry. Embarking on our journey into being an infrastructure provider two years ago for helicopters, today, we stand at the precipice of realizing our vision for the future of urban air mobility with eVTOLs in Dubai and across the UAE. The support of our visionary partners has been instrumental in our journey, and as we unveil this exciting chapter, we are privileged to share a collective vision. We are very grateful for having the opportunity to pave the way for the future of Air Mobility in Dubai with Archer,” said Dr. Samir Mohamed, Chairman and Founder of Air Chateau.
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