Archer Aviation and Air Chateau International Announce Air Chateau International’s Planned Purchase of up to 100 Midnight Aircraft Worth up to $500M

Archer Aviation Inc. (NYSE: ACHR), a leader in electric vertical takeoff and landing (eVTOL) aircraft, and Air Chateau International DWC LLC, one of the leading private aviation operators in the UAE, today at the Dubai Air Show 2023 signed an MOU covering a planned purchase by Air Chateau of up to 100 of Archer’s Midnight eVTOL aircraft with an approximate value of $500M and providing for an initial non-refundable, pre-delivery payment of $1M by December 31, 2023.