Archer and Future Flight Global signed a memorandum of understanding (MOU) for the planned purchase of up to 116 Midnight Aircraft worth up to $580 million Along with this MOU, Future Flight Global made an initial deposit, and the MOU sets out nearly $5 million in pre-delivery payments to be paid upon the completion of the parties’ definitive aircraft purchase agreement.

This brings Archer’s indicative order book to $6 billion. The two companies are now working to formalize definitive agreements covering the intended aircraft purchases and strategic operating alliance.

Midnight , Archer’s electric vertical take off and landing aircraft, is designed to offer passengers a sustainable, low-noise and safe alternative to ground transportation. Archer’s goal is to transform urban travel, replacing 60–90 minute commutes by car in traffic with estimated 10–20 minute electric air taxi flights.

FFG, which has been under development for the past three years, is founded by members of the leadership team at Titan Aviation, including former CEO Karan Singh. Titan Aviation has been operating business jets under multiple air operator certificates worldwide for more ethan two decades with deep experience catering to the world’s top executive travelers. FFG and Titan have a joint venture that will deploy and operate advanced air mobility assets globally.

Together, Archer and FFG plan to launch air taxi services in some of the largest markets globally, including Southeast Asia, Europe and the Middle East.

First, FFG will operate select routes within Archer’s planned air taxi service, leveraging Archer’s existing vertiport infrastructure network with partners such as Signature and Atlantic Aviation , and will collaborate with new vertiport partners to provide service in other high-demand locations.

Second, FFG will also seek to deploy Midnight to provide on-demand transit to their most high value clients—inclusive of corporations, hotels, governments and high net worth individuals.

To support these plans, Archer and FFG will work together on ecosystem development, infrastructure, regulatory engagement and demand generation.

Orders under the order book remain conditional, subject to the execution of further definitive agreements with each customer and the satisfaction of certain conditions. Order values represent the Ccompany’s estimate based on an indicative $5 million per aircraft price. This is only a prediction and actual results may differ materially due to a variety of factors.