Air Chateau International of the UAE aims to acquire electric vertical takeoff and landing (eVTOL) aircraft valued at $500M from Archer Aviation. During the Dubai Airshow 2023, the two companies signed a memorandum of understanding (MOU) for the potential purchase of up to 100 Archer Midnight eVTOL aircraft.
Before the year-end, an initial non-refundable pre-delivery payment of $1M for the air-taxi vehicles is set to be made. Air Chateau plans to possess and operate the Midnight aircraft within the region.
Air Chateau and Archer Aviation Forge Agreements for $500M eVTOL Aircraft Deal
In the upcoming months, the companies will collaborate to formalise definitive agreements for the planned purchase, with additional pre-delivery payments of $4M expected post-signing. Air Chateau, as the inaugural private heliport operator in the UAE, boasts a heliport and lounge terminal at Dubai World Central Al Maktoum International Airport’s land side, Dubai Helipark, and multiple touchpoints across the UAE.
Focusing on last-mile services for ultra-high net worth individuals, Air Chateau connects airports, cities, strategic points, and key attractions, according to Arabian Business.
The partnership aims to reinforce Archer’s recently revealed plans to launch air taxi operations in Abu Dhabi and Dubai by 2026. Both parties aspire to explore collaboration opportunities for the essential infrastructure investment required to prepare these cities for the planned operations.
Adam Goldstein, Archer Founder and CEO, said: “It was an honour hosting Air Chateau’s team at the Dubai Air Show 2023 during which they were able to touch, see and feel our aircraft.”
“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 revolutionise how people move in and around cities.”
Samir Mohamed, Chairman and Founder of Air Chateau, said: “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 realising 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”.
In October, within Archer’s declaration of initiating air taxi services in the UAE by 2026, the company articulated its desire to establish an Engineering Centre of Excellence. This centre aims to bolster the expanding advanced air mobility sector in the UAE and throughout the Middle East.
Additionally, Archer plans to partner with local manufacturing firms and Maintenance, Repair, and Overhaul providers in Abu Dhabi. This collaboration aims to lead the production of electric vertical takeoff and landing (eVTOL) aircraft, contributing to Abu Dhabi’s initiatives to foster its Smart and Autonomous Vehicle Industry cluster.
