Archer has announced results for its financial year 2023 in a shareholder letter in which the company reports a net loss of USD458 million. In addition the company confirms that it has an indicative order book for 700 aircraft valued at USD3.5 billion.
Further highlights included in the shareholder letter include:
- ~80% of Midnight’s subsystems and components have low certification risk as they are sourced from leading aerospace suppliers with certification heritage giving it a significantly de-risked path to certification
- In Final Certification Phase: Our focus is now on the last phase of Midnight’s Type Certification program. The FAA calls this the “Implementation Phase” as outlined in FAA Order 8110.4c
- Three conforming Midnight aircraft are now under construction
- We remain on track to complete construction, alongside Stellantis, on the first phase of our high volume manufacturing facility in Georgia this year
- Over the last few months we have made significant progress across many of the key areas of our flight test program.
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(Image: Archer)