Charles Alcock is managing editor of the AIN Media Group, having rejoined the company in 2019. He has been an aviation journalist since 1986, and previously worked for AIN from 1990 to 2017, most recently as editor-in-chief. His main focus is on covering new aviation technology and business models, as well as international news.
Having been raised in the London area, Alcock studied at the University of Manchester in the UK and earned an honors degree in Politics and Modern History. He speaks English and French, and some German.

Managing Editor

Charles Alcock

Read the latest news about Archer Aviation. 

As the two U.S. frontrunners in the race to launch eVTOL air taxi services navigate the rest of a year that both hope will lead to type certification and the start of deliveries, Archer and Joby released results this week that suggest they should have sufficient financial runway for commercial takeoff. At face value, Joby is the stronger of the Californian contenders with a cash and equivalents war chest valued at almost $858 million, compared with Archer’s reported $360 million tally. However, the companies’ announcements on August 8 provided more context in terms of their respective paths to market.
Archer’s acutely calibrated PR apparatus showered shareholders with feel-good news that included a reported “planned purchase” by Future Flight Global for up to 116 of its four-passenger Midnight aircraft. The prospective aircraft operator, founded by executives from Dubai-based business jet operator Titan Aviation, has committed to pay an undisclosed deposit for a provisional order that Archer said could be worth $580 million. This amount implies a per-aircraft cost of $5 million.
<h2>Joby Will Soon Have Four Aircraft in Flight Tests</h2>
Joby reported that it has now assembled three production prototype aircraft and is already flying two of these. The company said it expects to have four aircraft in active flight testing during the third quarter of this year as it works to complete the fourth of five stages of FAA type certification.
Other recent highlights for Joby include its application for type certification of its four-passenger, unnamed eVTOL <a href="https://www.ainonline.com/aviation-news/futureflight/2024-08-06/joby-seeks-australian-type-certification-evtol-aircraft">in Australia</a>. It now has applications lodged in four countries, which also include Japan and the UK.
In Saudi Arabia, Joby has signed an agreement with Saudi Aramco subsidiary Mukamalah covering plans to add to the group’s large corporate aircraft fleet. This deal builds on its agreement with Dubai authorities earlier this year, giving it exclusive access to the local air taxi market for six years.
Looking further ahead, Joby and its German subsidiary H2Fly recently flew <a href="https://www.ainonline.com/aviation-news/futureflight/2024-07-11/joby-and-h2fly-fly-hydrogen-powered-evtol-aircraft">a hydrogen-powered version of its eVTOL</a> vehicle on several sorties of more than 500 miles in length. During the second quarter, it also acquired autonomous flight pioneer Xwing to further its eventual ambitions to operate eVTOL aircraft without a pilot on board.
<h2>Stellantis Contributes More Cash For Midnight Manufacturing</h2>
In addition to revealing vertiport locations for planned <a href="https://www.ainonline.com/aviation-news/futureflight/2024-08-08/archer-reveals-planned-los-angeles-vertiport-sites">air taxi services in Los Angeles</a>, Archer also announced details of the contract under which major shareholder Stellantis will be involved in manufacturing the Midnight aircraft at its new facility in Georgia. On top of previously agreed financing of almost $300 million, the automotive group has confirmed that it will fund up to $370 million in labor costs for plans to produce 650 aircraft each year, and up to $20 million more for manufacturing capital expenditure.
According to Archer, it has secured agreements to bolster its capital reserves by around $230 million since the end of the second quarter. These include $55 million in equity capital received from Stellantis on July 1 and a $175 million investment commitment confirmed on August 8 from undisclosed strategic and institutional investors.
Archer also reported that in July, the U.S. Department of Defense accepted the military airworthiness assessment for the Midnight aircraft, clearing the way for the Air Force to take delivery of an aircraft to be used for evaluation as part of the company’s Afwerx Agility Prime contract. Military personnel are working with Archer’s flight test team in Salinas, California, to simulate operations covering medical evacuation, cargo, and surveillance and reconnaissance missions.

Issues regarding financing of aircraft; aviation insurance; tax issues for aircraft operators; new companies and people in the aviation financing and insurance industries.

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