Archer Aviation Advances UAE Air Taxi Program Amid Market Challenges
Archer Aviation has completed critical flight tests in the United Arab Emirates, demonstrating its Midnight aircraft's capability to operate in harsh desert conditions. The trials, conducted with regulatory oversight from the General Civil Aviation Authority, mark a pivotal step toward commercial deployment.
Despite technical progress, Archer's shares fell 1.01% to $7.88 on Friday, compounding a 19% year-to-date decline. The company secured initial payments from Abu Dhabi Aviation under their Launch Edition partnership, providing near-term capital for operational development.