Finance
Archer Aviation strikes Korean Air deal for eVTOL air taxis
Published by Global Banking and Finance Review
Posted on October 20, 2025
Global Banking and Finance Review
Company
Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
Published by Global Banking and Finance Review
Posted on October 20, 2025
(Reuters) -Archer Aviation on Monday said it signed a partnership with Korean Air to commercialize its electric air taxis in South Korea, with a potential purchase of up to 100 aircraft.
The deal underscores an intensifying race among electric vertical take-off and landing developers to win regulatory approvals, lock in airline partners and move from prototypes to paid service.
Shares of the Santa Clara, California-based company rose 6% in early U.S. trading.
Startups and aerospace incumbents alike are pitching short urban hops and airport transfers as faster, lower-emission alternatives to congested ground transport, even as the sector contends with certification hurdles, infrastructure build-out and uncertain timelines to profitability.
Archer said the agreement targets deployment of its Midnight eVTOL "across multiple applications and use cases, starting with government applications."
The aircraft is designed for 10–20 minute flights and last month completed a series of performance test flights, with two of its highest-altitude flights to date.
Backed by Boeing and Stellantis, Archer is producing six aircraft at two U.S. plants and counts United Airlines and the owner of India's IndiGo among its customers.
Archer, which is yet to turn a profit, expects an adjusted EBITDA loss of $110 million to $130 million in the third quarter, wider than last year's $93 million loss.
Last week, Archer said it won a bid to acquire rival Lilium's portfolio of about 300 advanced air mobility patent assets for 18 million euros ($21 million), expanding its own portfolio to over 1,000 patent assets.
($1 = 0.8575 euros)
(Reporting by Nandan Mandayam in Bengaluru; Editing by Tasim Zahid)