Air Taxi

Archer Aviation’s shares fell 8% after announcing a $650 million stock offering to fund the acquisition of Hawthorne Airport for its air taxi operations, despite beating Q3 loss estimates. The company reported a $129.9 million net loss versus the expected $178.6 million. The stock offering dilutes shares but supports Archer’s expansion plans, including becoming the official air taxi provider for the 2028 LA Olympics. Archer, along with competitors like Joby Aviation, is pursuing FAA certification and expanding globally, with significant operations in the UAE.

Uber plans to integrate Blade helicopter services into its app by 2026, leveraging its partnership with Joby Aviation. This follows Joby’s acquisition of Blade’s passenger business, excluding medical logistics. The move aims to introduce zero-emission aircraft for urban air mobility, building on Uber’s initial 2019 partnership and subsequent Elevate division divestment to Joby. While details are pending, the partnership seeks to provide customers with next-generation travel options. Success hinges on FAA approval, eVTOL production, and public acceptance in the competitive air taxi market.