Archer Aviation and Air Chateau International Announce Air Chateau International’s Planned Purchase of up to 100 Midnight Aircraft Worth up to $500M
16 11월 2023 - 10:08PM
Business Wire
- Today at the Dubai Air Show Air Chateau and Archer signed a
memorandum of understanding (MOU) covering the planned purchase and
providing for an initial non-refundable, pre-delivery payment of
$1M by December 31, 2023
- The two companies will now work to formalize definitive
agreements covering the planned purchase over the coming months,
with additional pre-delivery payments of $4M contemplated to be
paid following signing
- Air Chateau plans for Acorn Capital Ltd., a privately held
investment group with interests in aviation financing and aircraft
trading, to be its financial partner in this transaction
- The strategic relationship is intended to further strengthen
Archer’s recently announced plans to commence air taxi operations
in both Abu Dhabi and Dubai in 2026
Archer Aviation Inc. (NYSE: ACHR), a leader in electric vertical
takeoff and landing (eVTOL) aircraft, and Air Chateau International
DWC LLC, one of the leading private aviation operators in the UAE,
today 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,
2023. 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 $4 million of additional pre-delivery payments
contemplated to be paid following signing.
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Air Chateau was the first private heliport operator company in
the UAE to have its heliport and lounge terminal at the land side
of Dubai World Central Al Maktoum International Airport, Dubai
Helipark and with multiple touch points across the UAE. Air
Chateau’s operations offer last mile services targeted at
ultra-high net worth individuals, including connectivity between
airports, cities and strategic points and key attractions.
The relationship is intended to further strengthen Archer’s
recently announced plans to commence air taxi operations in both
Abu Dhabi and Dubai in 2026. The parties intend to explore
opportunities to collaborate on bringing in the infrastructure
investment necessary for these cities to be ready for these planned
operations.
“It was an honor hosting Air Chateau’s team at the Dubai Air
Show 2023 during which they were able to touch, see and feel our
aircraft as it headlined the show,” said Archer Founder and CEO,
Adam Goldstein. “Their recognition that our Midnight aircraft meets
what the customer demands in the UAE market and desire to secure
the purchase of up to 100 Midnight aircraft is another exciting
validation of our efforts to bring to market an aircraft that will
revolutionize how people move in and around cities.”
“This remarkable opportunity signifies the ongoing evolution of
Air Chateau, heralding a transformative era in our industry.
Embarking on our journey into being an infrastructure provider two
years ago for helicopters, today, we stand at the precipice of
realizing our vision for the future of urban air mobility with
eVTOLs in Dubai and across the UAE. The support of our visionary
partners has been instrumental in our journey, and as we unveil
this exciting chapter, we are privileged to share a collective
vision. We are very grateful for having the opportunity to pave the
way for the future of Air Mobility in Dubai with Archer,” said Dr.
Samir Mohamed, Chairman and Founder of Air Chateau.
In October, as part of Archer’s announcement of its plans to
commence air taxi operations in the UAE in 2026, Archer also laid
out its intent to build an engineering Center of Excellence to
support the growing advanced air mobility industry in the UAE and
across the Middle East and to collaborate with local manufacturing
companies and Maintenance, Repair, and Overhaul providers in Abu
Dhabi to spearhead the production of eVTOL aircraft, furthering Abu
Dhabi’s efforts to grow its Smart and Autonomous Vehicle Industry
cluster.
About Archer
Archer is designing and developing electric vertical takeoff and
landing aircraft for use in urban air mobility networks. Archer’s
mission is to unlock the skies, freeing everyone to reimagine how
they move and spend time. Archer's team is based in Santa Clara,
CA.
To learn more, visit www.archer.com.
About Air Chateau
Air Chateau is the first and only Private Heliport Operator
Company in the UAE having its Heliport’s VIP Lounge Terminal at the
Land side of Dubai World Central (DWC) Al Maktoum International
Airport – Dubai Helipark. Present operations cover ultra-premium
last-mile services targeted at the Ultra High Net Worth Individuals
(UHNWI) audiences. With multiple touch points across the UAE, the
operation offers seamless connectivity between Airports, cities and
to strategic points around the UAE.
Air Chateau is currently adding state-of-the-art hangar, and
will hold the first commercial hangarage facility located outside
an airport in the UAE. This impressive facility can accommodate up
to 10 helicopters, including 5 medium and 5 light helicopters for
regular hangarage or 6 helicopters undergoing heavy
maintenance.
Archer Forward-Looking Statements
This press release contains forward looking statements regarding
Archer’s future business plans, including statements regarding the
timing, amount and value of the planned purchases of Archer’s
aircraft by a third party and certain related pre-delivery
payments, the timing development, commercialization, and
certification of its eVTOL aircraft, business opportunities, and
the expansion of Archer’s business internationally. In addition,
this press release refers to an MOU that is conditioned on the
future execution by the parties of binding definitive agreements
incorporating the terms outlined in the MOU, which definitive
agreements may not be completed or may contain different terms than
those set forth in the MOU. These forward-looking statements are
only predictions and may differ materially from actual results due
to a variety of factors. The risks and uncertainties that could
cause actual results to differ from the results predicted are more
fully detailed in Archer’s filings with the Securities and Exchange
Commission, including its most recent Annual Report on Form 10-K
and Quarterly Report on Form 10-Q, available at www.sec.gov. In
addition, please note that any forward-looking statements contained
herein are based on assumptions that Archer believes to be
reasonable as of the date of this press release. Archer undertakes
no obligation to update these statements as a result of new
information or future events.
Source: Archer Text: ArcherIR
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version on businesswire.com: https://www.businesswire.com/news/home/20231116758356/en/
Archer Media Contacts The Brand Amp -
Archer@TheBrandAmp.com
Air Chateau’s Media Details Contact: Wendy Swindall
Title: Marketing & Communications Email:
w.swindall@airchateau.com Mobile: +971 52 324 3573
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