PAL unveils a $1bn aircraft acquisition plan as Chinese airlines sink, leading to Air China share suspension
27th April 2012
Air taxi developer Archer Aviation reported its first quarter financial results on May 12, 2025.
The company's operating expenses totalled $144 million in the first quarter, with a net loss of $93.4 million. As of the end of the quarter, the company's cash and cash equivalents totalled $1.03bn. Adjusted EBITDA was a loss of $109 million.
“Archer's pushing the boundaries of what's possible and reshaping the future of aviation for years to come,” said Archer founder and CEO Adam Goldstein. “This quarter, the team made strong progress across our civil and defence efforts as we continue to deepened our strategic partner relationships and prepare for commercialisation in the UAE later this year.”
The company noted it remained on track to deliver its piloted Midnight aircraft to the UAE this summer. The Midnight ‘launch edition’ programme will roll out with its two customers: Abu Dhabi Aviation and Ethiopian Airlines.
For the second quarter, the company expects an adjusted EBITDA loss of $100 to $120 million.