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United Airlines places $10 million deposit on 100 Archer Aviation flying taxis

A report indicates that United Airlines made a $10 million deposit towards 100 flying taxis from Archer Aviation.

Video transcript

AKIKO FUJITA: Let's go to my play. It's United Airlines. The carriers reportedly made $10 million in pre-delivery payments for 100 flying taxis. United had a preliminary agreement to buy up to 200 aircraft from Archer Aviation, but the "Wall Street Journal" reports this payment points to growing confidence the company has in this technology coming to market.

The FAA currently in the process of looking into regulation around these electric taxis, but the "Journal" reports they could get certification by as early as 2024. A few other numbers, Josh, by the way, to run through. The cost of these aircraft-- so you asked the question, how would we actually use this, right?

JOSH SCHAFER: Right.

AKIKO FUJITA: Think of it kind of as a black car, Uber.

JOSH SCHAFER: OK, sure.

AKIKO FUJITA: $110 to $120 for short rides. You know, you're at Yahoo Finance, you need to get to Newark.

JOSH SCHAFER: Right, OK.

AKIKO FUJITA: Would you take a flying taxi?

JOSH SCHAFER: I guess I could see the New York and LA play here, right? LA definitely. We know it's already kind of popular in LA.

AKIKO FUJITA: The traffic is bad, yep.

JOSH SCHAFER: Right. But my problem with it is the four people. I think you could if you make it 8 or 10 because you're going to the airport anyway. You can kind of get that Uber pool concept, almost. That'd be interesting to me.