Archer Aviation: $457 net loss for 2023 as certification enters final stages

Archer Aviation, developer of the Midnight eVTOL (electric vertical takeoff and landing) craft, has reported a net loss of $457.9 million for the full year 2023 despite noting a strong liquidity position of around $625m as of the end of Q4 2023, with its cash balances increasing quarter-on-quarter. The Midnight aircraft is now in the final phase of its certification programme as it readies for entry into service in 2025. “With the vast majority of the aircraft’s subsystems and components being sourced from leading aerospace suppliers with certification heritage we have significantly de-risked [the] path to certification from here,” commented