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Archer Aviation Completes Manned Round-Trip Flight, Faces Monetization Challenges

The Motley Fool +1 ·

ACHR
ACHR Archer Aviation Inc
$4.72 +1.07%
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  1. 1Archer Aviation announced that its Midnight aircraft completed a manned round-trip flight between Salinas and Hollister in September.
  2. 2The Midnight aircraft flew distances of over 40 miles every 12 minutes at an altitude of 3,550 feet and a speed of 125 mph.
  3. 3Archer's cash and cash equivalents of approximately $1.6 billion are expected to last less than 24 months given the company's quarterly cash burn of $200 million.

So what's the key point?

Archer Aviation successfully completed a round-trip flight with a person on board. However, with a quarterly cash burn of $200 million, its current funds may not last for 24 months.

Source The Motley Fool +1 · View original ↗

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