Archer Aviation begins air taxi test flights in Abu Dhabi, shares rise

Archer Aviation

02/07/2025 14:09

** Shares of air taxi maker Archer Aviation ACHR.N up 2.33% at $10.10 in premarket trade

** Co says it has successfully completed an initial test flight of its Midnight aircraft at Al Bateen Executive Airport in Abu Dhabi

** "Our initial test flight operations in the UAE represent a critical milestone as we prepare for our commercial deployment in Abu Dhabi" - ACHR CEO Adam Goldstein

** Earlier this week, peer Joby Aviation JOBY.N completed first piloted air taxi flights in Dubai

** 7 of 9 brokerages rate the stock "buy" and 2 "hold"; their median PT is $13 - LSEG

** As of last close, stock up 1.3% YTD

 (Reporting by Anshuman Tripathy)

 ((Anshuman.Tripathy@thomsonreuters.com))