Archer Aviation and Air Chateau International, at the Dubai Air Show 2023, 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 $500M and providing for an initial non-refundable, pre-delivery payment of $1M by December 31. 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 $4M of additional pre-delivery payments contemplated to be paid following signing.
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