Archer And Future Flight Global Sign MOU For Planned Purchase Of Up To 116 Midnight Aircraft Worth Up To $580M; Future Flight Global Makes Initial Deposit And Commits To Nearly $5M In Pre-Delivery Payments; Agreement Aims To Launch eVTOL Operations In Key Global Markets, Increasing Archer's Indicative Order Book To Nearly $6B
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Archer Aviation (ACHR) has signed a Memorandum of Understanding (MOU) with Future Flight Global for the planned purchase of up to 116 Midnight aircraft, valued at up to $580 million. Future Flight Global has made an initial deposit and committed to nearly $5 million in pre-delivery payments. This agreement aims to launch eVTOL operations in key global markets, increasing Archer's indicative order book to nearly $6 billion.
August 13, 2024 | 1:01 pm
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Archer Aviation (ACHR) has signed an MOU with Future Flight Global for the purchase of up to 116 Midnight aircraft, valued at up to $580 million. This deal includes an initial deposit and nearly $5 million in pre-delivery payments, aiming to launch eVTOL operations in key global markets. The agreement increases Archer's indicative order book to nearly $6 billion.
The MOU with Future Flight Global significantly boosts Archer's order book and provides a substantial financial commitment, which is likely to positively impact ACHR's stock price in the short term. The agreement also positions Archer well in the growing eVTOL market.
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