Archer Aviation Inc. (NYSE: ACHR), a pacesetter in electrical vertical takeoff and touchdown (eVTOL) plane, and Air Chateau Worldwide DWC LLC, one of many main personal aviation operators within the UAE, in the present day on the Dubai Air Present 2023 signed an MOU masking a deliberate buy by Air Chateau of as much as 100 of Archer’s Midnight eVTOL plane with an approximate worth of $500M and offering for an preliminary non-refundable, pre-delivery fee of $1M by December 31, 2023. Air Chateau plans to personal and function the Midnight plane within the area. The 2 corporations will now work to formalize the definitive agreements masking the deliberate buy over the approaching months, with $4 million of further pre-delivery funds contemplated to be paid following signing.
Air Chateau was the primary personal heliport operator firm within the UAE to have its heliport and lounge terminal on the land aspect of Dubai World Central Al Maktoum Worldwide Airport, Dubai Helipark and with a number of contact factors throughout the UAE. Air Chateau’s operations provide final mile providers focused at ultra-high internet price people, together with connectivity between airports, cities and strategic factors and key points of interest.
The connection is meant to additional strengthen Archer’s just lately introduced plans to start air taxi operations in each Abu Dhabi and Dubai in 2026. The events intend to discover alternatives to collaborate on bringing within the infrastructure funding needed for these cities to be prepared for these deliberate operations.
“It was an honor internet hosting Air Chateau’s group on the Dubai Air Present 2023 throughout which they had been in a position to contact, see and really feel our plane because it headlined the present,” stated Archer Founder and CEO, Adam Goldstein. “Their recognition that our Midnight plane meets what the client calls for within the UAE market and want to safe the acquisition of as much as 100 Midnight plane is one other thrilling validation of our efforts to deliver to market an plane that may revolutionize how individuals transfer in and round cities.”
“This exceptional alternative signifies the continuing evolution of Air Chateau, heralding a transformative period in our trade. Embarking on our journey into being an infrastructure supplier two years in the past for helicopters, in the present day, we stand on the precipice of realizing our imaginative and prescient for the way forward for city air mobility with eVTOLs in Dubai and throughout the UAE. The assist of our visionary companions has been instrumental in our journey, and as we unveil this thrilling chapter, we’re privileged to share a collective imaginative and prescient. We’re very grateful for having the chance to pave the way in which for the way forward for Air Mobility in Dubai with Archer” stated Dr. Samir Mohamed, Chairman and Founding father of Air Chateau.
In October, as a part of Archer’s announcement of its plans to start air taxi operations within the UAE in 2026, Archer additionally laid out its intent to construct an engineering Heart of Excellence to assist the rising superior air mobility trade within the UAE and throughout the Center East and to collaborate with native manufacturing corporations and Upkeep, Restore, and Overhaul suppliers in Abu Dhabi to spearhead the manufacturing of eVTOL plane, furthering Abu Dhabi’s efforts to develop its Good and Autonomous Automobile Business cluster.