Japan Airlines’ and Sumitomo Corporation’s Joint Venture Company, Soracle, Announces Agreement Including Intended Purchase Of Up To $500M of Electric Aircraft From Archer
Archer Aviation Inc. Class A (ACHR)
Company Research
Source: Business Wire
SANTA CLARA, Calif.--(BUSINESS WIRE)--Archer Aviation Inc. (NYSE: ACHR) and Soracle Corporation (Soracle), a joint venture newly established by Japan Airlines and Sumitomo Corporation, signed agreements focused on bringing advanced air mobility (AAM) services to Japan.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241107033638/en/Japan Airlines’ and Sumitomo Corporation’s Joint Venture Company, Soracle, Announces Agreement Including Intended Purchase Of Up To $500M of Electric Aircraft From Archer (Photo: Business Wire)Soracle plans to launch its AAM operation in Japan using Archer’s Midnight aircraft, with the goal of offering electric air taxi flights in cities where existing ground transportation is constrained by traffic or geographic barriers.To do so, Soracle has obtained the right to place aircraft orders of up to 100 Midnight aircraft, totaling approximately $500M, which would include pre-delivery payments based
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ACHR
Sec Filings
- 11/8/24 - Form 10-Q
- 11/7/24 - Form 8-K
- 11/4/24 - Form PRE
- ACHR's page on the SEC website