Archer Limited (ARCHO.XC)

Archer shares jump on air taxi deal with US Air Force

The deal, worth up to $142 million, includes delivery of vertical takeoff and landing (eVTOL) aircraft, pilot training, development of maintenance and repair operations, and share data such as additional flight test and certification-related test reports. The California-based company in May completed the final assembly of its first "Midnight" (eVTOL) aircraft. Last month, Joby Aviation, which also has a deal with the U.S. Air Force, said it would deliver the first two electric aircraft in March 2024 to the Edwards Air Force Base after completing their initial testing.