Archer Aviation (NYSE: $ACHR) is an American company developing eVTOL (electric vertical takeoff and landing) aircrafts. These aircrafts are designed to move people within cities as an air taxi service.
The company, headquartered in San Jose, California, aims to revolutionize transportation by providing efficient and environmentally friendly aerial transportation solutions.
On February 8, 2024, the company received Part 145 Federal Aviation Administration (FAA) certification. With this certification, Archer Aviation is now eligible to operate specialized aircraft repair services under the FAA regulations while maintaining the utmost safety and compliance standards, which is imperative for successfully operating a commercial aviation business.
The Part 145 certification issued by the FAA is vital for both commercial aviation operators and original equipment manufacturers (OEMs), as it authorizes them to perform designated maintenance and repair activities on critical aircraft components like airframes. This certification signifies a dedication to rigorous safety and operational standards.
CEO Statement On FAA Certification
The founder and CEO of Archer Aviation, Adam Goldstein, said, “This is a major vote of confidence from the FAA on Archer’s promise and potential for operating a full-scale urban air mobility service in cities across the country.”
The CEO added, “As we continue to rapidly advance towards commercial operations, we will be working closely with the FAA and regulators around the world to ensure Archer’s aircraft are safe and ready to transform mobility, providing a sustainable, low noise, and cost competitive alternative to decongest our biggest cities.”
Archer Aviation Begins Work On Three Aircrafts
On February 07, 2024, the company announced that they would be constructing the first three Midnight aircraft that conform to specifications. Final assembly for the first craft will begin in the coming weeks, with flight testing slotted for later in 2024. Subsequently, the crafts will be used for credit flight testing with the FAA. This milestone is a major step towards commercialization.
Testing will be performed at Archer’s manufacturing facility in San Jose, CA.
Adam Goldstein said, “The key to achieving FAA certification is flying a conforming aircraft. I believe we are positioned to be the first in the sector to do so.”
He added, “From day one, Archer’s strategy has been to build an aircraft that is certifiable and manufacturable at scale. This focus is what has allowed us to move quicker and more efficiently than any other company in the industry over the last few years.”
The primary goal of Archer Aviation is to rejuvenate urban travel by substituting 60–90-minute car commutes with estimated 10-20 minute flights that prioritize safety, sustainability, low noise, and competitive pricing compared to ground transportation.
Stock Update: $ACHR
ACHR closed Friday’s session at $5.40, with a gain of 4.25% from its previous close of $5.18. The stock has also gained 17.13% in one week. However, ACHR has been down by 5.85% since the start of January. As of Friday’s close, the market cap is at $1.558 billion with a volume of 4,690,068.
Should You Invest in $ACHR?
The company has officially received certifications the Part 145 Certification from the FAA for the development and repair of aircrafts. With this, the company stock holds a promising future for investors. However, it is essential to understand that ACHR stock is still highly speculative.
The future of eVTOL is uncertain, especially regarding revenue generation. However, if it the company successfully continues on its course to developing game-changing aircrafts, Archer Aviation may very well provide a significant return on your investment.
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