Archer Aviation announced on August 13, 2024, that it has signed a Memorandum of Understanding (MoU) with Future Flight Global (FFG), a relatively new executive aviation operator, for the sale of 116 Midnight electric vertical takeoff and landing (eVTOL) aircraft.
This order is worth $580 million, at Midnight’s catalogue price of $5 million per aircraft, and takes Archer’s existing order book near to the $6 billion mark.
Interestingly, unlike many other eVTOL order announcements which do not include any cash transfers, this deal includes the placement of an initial deposit by Future Flight Global as well as a $5 million pre-delivery payment.
Archer and Future Flight Global also aim to cooperate in the future operational deployment of these aircraft, both in the United States and internationally, in Europe, Southeast Asia and the Middle East.
In addition to supporting each other in fostering the nascent eVTOL ecosystem and establishing vertiport networks, both companies have also committed to collaborate in day-to-day eVTOL operations.
Future Flight Global aims to be the operator of choice on some of the routes in the advanced air mobility networks that Archer is starting to outline for some key markets, such as the Bay Area.
Future Flight Global, the founders of which used to hold executive roles at corporate aviation firm Titan Aviation, will also provide premium on-demand eVTOL services in a similar manner to how many private jet operators currently offer their services.