Friday, Archer Aviation Inc. (ACHR) signed a memorandum of understanding with Southwest Airlines Co. (LUV) to collaborate on operational plans for an electric air taxi service using Archer's eVTOL aircraft at California airport.
The service will utilize Archer's battery-powered, four-passenger, tilt-rotor Midnight aircraft, capable of vertical takeoff and landing like a helicopter. Through this agreement, the aircraft will have access to 14 California airports served by Southwest.
Archer positions its Midnight aircraft as a competitive and environment-friendly transportation solution, aiming to revolutionize urban travel by offering electric air taxi flights of 10 to 20 minutes, replacing typical 60 to 90 minute car commutes.
Additionally, Archer will partner with Southwest employees and unions, such as the Southwest Airlines Pilots Association, to establish an air taxi network throughout California.
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Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.