Archer Aviation Lands Partnership To Deploy Air Taxi In Saudi Arabia

• In the initial phase of the agreement, Archer Aviation will work with The Helicopter Company as well as RSG to help build the foundational framework for its planned eVTOL operations in Saudi Arabia.
• After the testing program, the parties involved will review the results and consider further initiatives for large-scale introduction of eVTOL services, they said.

Archer Aviation Inc. (ACHR) has inked a deal with The Helicopter Company to bring their Midnight air taxi to the Kingdom of Saudi Arabia in partnership with Red Sea Global (RSG), the eVTOL maker said on Wednesday.

The partnership will focus on the development, testing, and potential integration of Archer’s eVTOL aircraft into RSG’s operations as one of the first deployments of eVTOL aircraft in the Kingdom of Saudi Arabia.

How Will The Partnership Work?

While The Helicopter Company is a Saudi Public Investment Fund company and commercial helicopter operator, Red Sea Global (RSG), is the real estate developer behind regenerative tourism destinations The Red Sea and AMAALA.

In the initial phase of the agreement, Archer Aviation will work with The Helicopter Company as well as RSG to help build the foundational framework for their planned eVTOL operations in Saudi Arabia, including the establishment of an environment to conduct test flights with Archer’s Midnight eVTOL under real-world conditions.

As the partnership progresses, RSG will lead testing with Archer’s Midnight aircraft to evaluate the potential to integrate eVTOL aircraft into the company’s future operations. 

How Did Stocktwits Users React?

ACHR shares rose 1% in the pre-market session at the time of writing. On Stocktwits, retail sentiment around ACHR jumped from ‘neutral’ to ‘bullish’ territory over the past 24 hours, while message volume stayed at ‘high’ levels.

ACHR stock is down by 22% this year and up by about 48% over the past 12 months.

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