Deposit Paid For Up To 116 Midnight Aircraft

Future Flight Global (FFG) and Archer Aviation have signed a memorandum of understanding (MOU) for the planned purchase of up to 116 Archer’s Midnight aircraft.

The deal is worth up to $580 million for Archer, bringing its indicative order book to about $6 billion. The companies are now formalizing definitive agreements on the purchases and strategic operating alliance.

The Midnight is an electric vertical takeoff and landing (eVTOL) aircraft designed as a low-noise, sustainable, and safe air taxi to replace ground transportation by providing commuters a 10-20 minute flight instead of a 60-90 minute drive.

The companies plan to launch air taxi services in several large markets around the world including Europe, the Middle East, and Southeast Asia. The plan involves FFG operating certain routes within Archer’s planned air taxi service by taking advantage of Archer’s existing vertiport network with partners like Signature Aviation and Atlantic Aviation as well as additional vertiport partners it plans to develop.

FFG will also target Midnight to potentially lucrative clients such as corporations, governments, hotels, and high net worth individuals. The two companies will collaborate on developing infrastructure, regulatory elements, and marketing.

Karan Singh, CEO and Founder of FFG noted that “The aviation industry is on the cusp of its most exciting revolution in decades. We’re partnering with Archer to provide tailored, flexible aviation services to our top clients in some of the world’s most exciting destinations.”

“This new agreement both grows our prospective order book to nearly $6B, and opens up Archer’s global reach to premium international markets,” said Andrew Cummins, Director of Business Development at Archer. “As our first private aviation partner, and with their deep ties in aviation and bold approach, FFG is positioned to be a new leader in modern aviation. Partnering with Karan and the team at FFG was an obvious choice and an ideal relationship for Archer.”

FMI:  archer.com/