Air Chateau to purchase up to 100 Midnight eVTOL from Archer
Californian electric aircraft startup Archer Aviation and Air Chateau, a private aviation operator in the UAE, signed an MOU covering a planned purchase by Air Chateau of up to 100 of Archer’s Midnight eVTOL aircraft with an approximate value of $500 million and providing for an initial non-refundable, pre-delivery payment of $1 million by December 31, 2023. Air Chateau plans to own and operate the Midnight aircraft in the region.
The two companies will now work to formalize the definitive agreements covering the planned purchase over the coming months, with $4 million of additional pre-delivery payments contemplated to be paid following the signing.
“It was an honor hosting Air Chateau’s team at the Dubai Air Show 2023 during which they were able to touch, see and feel our aircraft as it headlined the show,” said Archer Founder and CEO, Adam Goldstein. “Their recognition that our Midnight aircraft meets what the customer demands in the UAE market and desire to secure the purchase of up to 100 Midnight aircraft is another exciting validation of our efforts to bring to market an aircraft that will revolutionize how people move in and around cities.”
In October, as part of Archer’s plans to launch air taxi operations in the UAE in 2026, Archer revealed plans to build an engineering centre “to support the growing advanced air mobility industry in the UAE and across the Middle East”.
This year, Archer has rapidly been expanding its business, starting with a deal with Stellantis in January, which led to the start of production for the Midnight eVTOL. In August, Archer then announced a $142 million deal with the US Airforce, followed by an investment announcement of over $200 million just a few days later. Most recently, Archer got involved in the grounded side of its business by announcing a charging cooperation with Beta Technologies,
1 Comment