IT'S A FIVE-YEAR-OLD, NYSE-listed start-up that has no product operating commercially. The "flying taxi" maker doesn't even have approvals from any regulator.
Yet, this is the company that InterGlobe, which runs India's largest airline Indigo, has pinned its hopes on to operate Midnight, the world's first electric vertical take-off and landing (eVTOL) aircraft, in India. The agreement was signed in November.
The company concerned, Archer Aviation, hopes to commence operations in India in 2026, a year after doing the same in the US, which is when the approval from the US Federal Aviation Administration (FAA) is expected. It recently also signed an agreement with Air Chateau International, under which the latter will purchase up to 100 Midnight aircraft worth $500 million.
Bu hikaye Financial Express Mumbai dergisinin December 06, 2023 sayısından alınmıştır.
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Bu hikaye Financial Express Mumbai dergisinin December 06, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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