Korean Air and Archer Aviation (ACHR) have signed an exclusive deal to bring Archer’s electric air taxi, called the Midnight, to South Korea. The plan includes the option for Korean Air to buy up to 100 aircraft. Both companies will work together to launch air taxi services that can serve public and private needs across the country.
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Meanwhile, ACHR shares rose an impressive 6.58% yesterday, closing at $11.98.
A New Step for Urban Air Mobility
The agreement supports South Korea’s goal to make electric air travel part of its national transport plan. The Ministry of Land, Infrastructure, and Transport first set that target in 2022, when it named urban air mobility as a key area for growth. Now, with Korean Air’s experience in aircraft maintenance and Archer’s eVTOL design, the two firms want to move that plan closer to reality.
Archer’s Midnight aircraft can carry a pilot and four passengers. It is built for short trips between cities or airports. The aircraft can turn long road commutes of 60 to 90 minutes into flights that last around 10 to 20 minutes. It also recharges quickly, allowing several flights in a row with little delay. Archer says it has already completed test flights, including one that covered about 55 miles in 31 minutes.
A Strategic Move for Both Companies
For Archer Aviation, the partnership adds another step in its push to expand overseas. Korea is one of Asia’s most advanced markets for aviation, and this deal gives Archer a strong local ally. For Korean Air, it offers a chance to enter the growing market for electric aircraft and support cleaner air transport.
The companies plan to start with government use cases before opening the service to wider markets. The move could later lead to more partnerships for aircraft supply, maintenance, and training.
The agreement is based on a memorandum of understanding, so final terms still need to be signed. The project’s progress will depend on safety approval, infrastructure development, and public adoption. Still, it shows strong interest in electric air mobility and growing momentum in the space.
Is Archer Aviation Stock a Good Buy?
On Wall Street, analysts remain optimistic about the company’s prospects. Based on seven recent ratings, Archer Aviation boasts a “Strong Buy” consensus with an average 12-month price target of $13.14. This implies a 9.68% upside from the current price.
