Business

Archer Aviation to Launch LA Air Taxi Network by 2026

Aug 8, 2024 1 min read

Jump to Summary

Archer Aviation has unveiled plans to launch an electric vertical takeoff and landing (eVTOL) air taxi network in Los Angeles by 2026. This initiative aims to alleviate the city's notorious traffic congestion, reducing travel times from two hours to just 10-20 minutes. Key locations for the network of vertiports include Los Angeles International Airport, the University of Southern California, Santa Monica, Hollywood Burbank, Van Nuys, and Long Beach. Additionally, a new vertiport at SoFi Stadium is planned in collaboration with Kroenke Sports & Entertainment and the LA Rams.

The company's Midnight eVTOL aircraft, capable of carrying a pilot and four passengers at speeds of up to 150 mph, will be central to this network. Archer plans to initiate limited commercial operations as early as 2025 in cities such as San Francisco, Miami, New York City, Abu Dhabi, and Dubai. The Federal Aviation Administration has cleared Archer to test its aircraft commercially, with public launch routes confirmed in Chicago and Newark, N.J. Archer's efforts are supported by significant investments from major backers, including Stellantis, Boeing, United Airlines, and ARK Invest. The startup also collaborates with Southwest Airlines and United Airlines to further develop the air taxi service.

#sports #world-cup #fifa-world-cup #aviation #tech #travel #academia #usc #auto #finance #markets

Summary

Other news in business

Draghi Calls for €800bn EU Investment to Compete Globally

The European Union (EU) requires a more coordinated industrial policy, rapid decision-making, and significant investment to remain competitive with the United States and China, according to a report by former European Central Bank chief and Italian Prime Minister, Mario Draghi. The report, commissioned by the European Commission, calls for an

Lilly Promotes Lucas Montarce to EVP and CFO

Eli Lilly and Company (Lilly) has appointed Lucas Montarce as its new executive vice president and chief financial officer (CFO), effective immediately. Montarce, who joined Lilly in 2001, has held various finance leadership roles, including group vice president, corporate controller, and global CFO of Lilly Research Laboratories, Lilly International, and

Methanex Acquires OCI's Methanol Business for $2.05 Billion

OCI Global has entered into a binding equity purchase agreement to sell its Global Methanol Business to Methanex Corporation for $2.05 billion. The transaction will be settled through a combination of $1.15 billion in cash, the issuance of 9.9 million shares of Methanex valued at approximately $450

James Gandolfini Dared HBO Exec to Fire Him During 'Sopranos' Intervention

Former HBO CEO Chris Albrecht has disclosed that James Gandolfini once challenged him to "fire" him from "The Sopranos" after an intervention was staged to persuade the actor to enter rehab for his alcohol struggles. The revelation is part of the new documentary, "Wise Guy: