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Archer announced on Thursday that it has signed a series of agreements to acquire the Hawthorne Airport (HHR) as a one-of-a-kind asset.
The company will acquire the airport for about $126 million and plans to use it as an operational hub for its L.A. air taxi network. Archer plans for HHR to serve a key role during the LA28 Olympic Games. The airport is located less than 3 miles from the Los Angeles International Airport (LAX) and is close to attractions such as Downtown L.A., SoFi Stadium and The Forum.
The air taxi service uses Archer's Midnight eVTOL aircraft, which has recently completed its longest piloted flight. The flight lasted 31 minutes, traveling 55 miles at speeds exceeding 126 mph. It also completed its highest altitude flight at 10,000 ft/
HHR will also be used as a testbed for AI-powered aviation technologies, including air traffic and operations management. Once tested, these technologies will be deployed with its airline and technology partners.
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"The era of advanced aviation has arrived—not as a distant vision, but as a tangible reality," said founder and CEO Adam Goldstein. "At Archer, we are not waiting for the future; we are building it. The time to seize this transformative opportunity is now."
Archer also released its operating and financial results for the third quarter of 2025. It has raised $650 million of additional equity capital, equaling a total liquidity of over $2 billion. The company has issued a shareholder letter detailing its results along with its estimates for the fourth quarter.