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Archer buys L.A. airport for $126M to advance eVTOL air taxi plans ahead of 2028 Olympics.
Archer Aviation has acquired Hawthorne Municipal Airport in Los Angeles for $126 million, securing a key site for its eVTOL air taxi network and a testbed for AI-driven air and ground systems.
The 80-acre airport, near LAX and SoFi Stadium, will support operations tied to the 2028 Olympics, with plans to expand to 400 acres.
The deal follows a $650 million equity raise, boosting Archer’s cash reserves above $2 billion.
Despite a $129.9 million net loss in Q3 2025, the company continues testing its Midnight eVTOL, achieving over 50 miles in range and flights above 10,000 feet.
Production capacity targets 50 aircraft annually, with certification likely by 2027–2028.
Archer compra el aeropuerto de Los Ángeles por $126 millones para avanzar en los planes de taxis aéreos eVTOL antes de los Juegos Olímpicos de 2028.