Archer Receives First Nearly $1 Mln U.S. Air Force Payment On Contracts Valued At Up To $142 Mln

RTTNews | 411天前
Archer Receives First Nearly $1 Mln U.S. Air Force Payment On Contracts Valued At Up To $142 Mln

(RTTNews) - Archer Aviation Inc. (ACHR), a leader in electric vertical takeoff and landing (eVTOL) aircraft, announced Wednesday that the U.S. Air Force has provided the company with its first installment of nearly $1 million on their recently announced contracts valued at up to $142 million.

The initial payment is expected to be the first of many payments made to Archer by the U.S. Air Force and signals the ongoing advancement of the partnership from signature to execution.

Under the AFWERX Agility Prime program, Archer will assess the transformational potential of the vertical flight market and eVTOL technologies for DoD purposes.

The initial payment is related to a contracted deliverable for a mobile flight simulator which the U.S. Air Force and Archer will use together to train pilots, assess flight controls and improve U.S. Air Force personnel's understanding of the operational capabilities of Archer's civilian use eVTOL aircraft platform and potential future development of aircraft for Air Force use.

The simulator will also be deployed to key public and industry events to increase public awareness and engagement with eVTOL technology.

Several more of Archer's deliverables are already underway with the U.S. Air Force as part of the contracts, which include the sharing of wind tunnel testing reports, project specific certification plans (PSCP's) and Subject Specific Certification Plans (SSCP's).

read more
United Airlines, Archer To Launch First Air Taxi Route In Chicago

United Airlines, Archer To Launch First Air Taxi Route In Chicago

United Airlines and Archer Aviation Inc. announced plans to launch the first commercial electric air taxi route in Chicago, between O'Hare International Airport or ORD and Vertiport Chicago. As part of their urban air mobility or UAM network buildout, both companies will utilize Archer's electric vertical takeoff and landing or eVTOL aircraft in the new route.
RTTNews | 606天前
Asian Markets Trade Mostly Higher

Asian Markets Trade Mostly Higher

Asian stock markets are trading mostly higher on Tuesday, following the mixed cues from Wall Street overnight, as traders picked up some stocks at a bargain after the recent weakness in the markets amid concerns about the outlook for interest rates. Strong gains in mining and energy stocks also boosted the markets amid climbing commodity prices. Asian markets closed mixed on Monday.
RTTNews | 5小时40分钟前
Indian Shares Seen Opening Slightly Higher

Indian Shares Seen Opening Slightly Higher

Indian shares may open higher Tuesday morning, tracking cues from Wall Street where stocks saw some upside overnight thanks to bargain hunting following the steep drop seen last week. Slightly higher Gift Nifty futures also point to a positive start for the Indian market.
RTTNews | 6小时16分钟前
Japanese Market Notably Higher

Japanese Market Notably Higher

The Japanese stock market is trading notably higher on Tuesday, reversing the losses in the previous session, with the Nikkei 225 moving above the 38,400 level, following the mixed cues from Wall Street overnight, with gains across most sectors led by automakers, exporters and financial stocks.
RTTNews | 6小时42分钟前
Higher Open Anticipated For Thai Stock Market

Higher Open Anticipated For Thai Stock Market

The Thai stock market on Monday ended the two-day losing streak in which it had slumped almost 10 points or 0.8 percent. The Stock Exchange of Thailand now sits just above the 1,450-point plateau and it's got a positive lead again for Tuesday's trade. The global forecast for the Asian markets is cautiously optimistic, with technology and oil stocks expected to lead the way higher. The European and U.S. markets were mostly higher and the Asian bourses are also likely to open to the upside.
RTTNews | 7小时14分钟前
Indonesia Stock Market Due For Support On Tuesday

Indonesia Stock Market Due For Support On Tuesday

The Indonesia stock market has finished lower in four straight sessions, shedding almost 190 points or 2.5 percent along the way. The Jakarta Composite Index now rests just beneath the 7,135-point plateau although it may stop the bleeding on Tuesday. The global forecast for the Asian markets is cautiously optimistic, with technology and oil stocks expected to lead the way higher. The European and U.S. markets were mostly higher and the Asian bourses are also likely to open to the upside. The JCI finished modestly lower on Monday following losses from the financial shares and mixed performances from the cement and resource companies. For the day, the index shed 26.98 points or 0.38 percent to finish at 7,134.28 after trading between 7,118.87 and 7,174.75. Among the actives, Bank CIMB Niaga sank 0.84 percent, while Bank Mandiri fell 0.39 percent, Bank Danamon Indonesia shed 0.40 percent, Bank Negara Indonesia declined 0.81 percent, Bank Central Asia tumbled 1.72 percent, Bank Rakyat Indonesia tanked 2.68 percent, Indosat Ooredoo Hutchison dropped 0.88 percent, Indocement lost 0.72 percent, Semen Indonesia rose 0.28 percent, United Tractors surrendered 2.64 percent, Astra International dipped 0.20 percent, Energi Mega Persada rallied 3.15 percent, Astra Agro Lestari stumbled 2.70 percent, Aneka Tambang slid 0.36 percent, Jasa Marga slumped 0.44 percent, Vale Indonesia plunged 3.40 percent, Timah retreated 0.76 percent, Bumi Resources surged 2.68 percent and Bank Maybank Indonesia and Indofood Sukses Makmur were unchanged.
RTTNews | 7小时44分钟前
Australian Market Significantly Higher

Australian Market Significantly Higher

Adding to the gains in the previous three sessions, the Australian stock market is trading significantly higher on Tuesday, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving well above the 8,300 level, with gains across most sectors led by energy and mining stocks amid upbeat commodity prices.
RTTNews | 7小时58分钟前