Archer up after deal with Korean Air to sell eVTOL aircraft in Korea

Korean Air Lines Co

20/10/2025 14:01

** Electric vertical takeoff and landing aircraft maker Archer Aviation's shares ACHR.N rise 7% to $12.04 premarket

** ACHR and Korean Air 003490.KS sign agreement to commercialize Archer’s Midnight eVTOL aircraft in Korea

** Parties plan for Korean Air to purchase up to 100 Midnight aircraft, starting with government applications

** Midnight eVTOL is a piloted aircraft designed to carry four passengers that can perform 10–20-minute electric air taxi flights

** In September, Midnight completed its flight test program with two of its highest altitude flights to date reaching altitudes of 7,000 and 10,000 feet

** Last month, ACHR won bid to acquire German rival Lilium's portfolio of about 300 advanced air mobility patent assets for 18 million euros ($20.91 million)

** As of last close, stock had risen 15.3% YTD

 (Reporting by Aatreyee Dasgupta)

 ((Aatreyee.Dasgupta@thomsonreuters.com))