Future Flight Global (FFG) has agreed to purchase 116 Midnight eVTOL aircraft from Archer in a deal worth up to $580 million.
Together, Archer and FFG plan to launch air taxi services in some of the largest markets globally, including Southeast Asia, Europe and the Middle East.
First, FFG will operate select routes within Archer’s planned air taxi service, leveraging Archer’s existing vertiport infrastructure network with partners such as Signature and Atlantic Aviation, and will collaborate with new vertiport partners to provide service in other high-demand locations.
Second, FFG will also seek to deploy Midnight to provide on-demand transit to their most high value clients — inclusive of corporations, hotels, governments and high net worth individuals.
To support these plans, Archer and FFG will work together on ecosystem development, infrastructure, regulatory engagement and demand generation.
Karan Singh, CEO and Founder of FFG, said; “The aviation industry is on the cusp of its most exciting revolution in decades. We’re partnering with Archer to provide tailored, flexible aviation services to our top clients in some of the world’s most exciting destinations. Midnight’s versatility makes it well-suited to diverse routes and mission profiles, while also providing a world-class experience and operational efficiency that’s attractive to our corporate clients.”
Andrew Cummins, Director of Business Development at Archer, added; “This new agreement both grows our prospective order book to nearly $6B, and opens up Archer’s global reach to premium international markets. As our first private aviation partner, and with their deep ties in aviation and bold approach, FFG is positioned to be a new leader in modern aviation. Partnering with Karan and the team at FFG was an obvious choice and an ideal relationship for Archer.”
The two companies are now working to formalize definitive agreements covering the intended aircraft purchases and strategic operating alliance, with nearly $5 million in pre-delivery payments planned upon their completion.
