Amidst the release of its Q3 earnings report, U.S eVTOL startup Archer Aviation announced a $126.0 million agreement to acquire Hawthorne Municipal Airport in Los Angeles County, California. The company intends to develop Hawthorne into both an operational hub for the company’s envisioned air taxi service network across the city of Los Angeles and a developmental location for the advancement and testing of relevant AI-assisted flight technologies. Archer was selected as the official air taxi provider of the 2028 Los Angeles Olympic and Paralympic Games in May, 2025.
Archer contemporaneously announced the raise of an additional $650.0 million in additional equity capital, elevating its total liquidity to over $2.0 billion according to Archer’s press release. Archer’s stock price has exhibited some volatility in the wake of the announcements.
