Southwest Airlines Signs MoU with Archer Aviation for Electric Air Taxi Network in California, Stock Up 8%

Jul 12, 2024, 02:13 PM

Southwest Airlines has signed a Memorandum of Understanding (MoU) with Archer Aviation to develop operational concepts for an electric air taxi network in California. The collaboration aims to create a network of air taxis that will facilitate door-to-door trips, such as from Santa Monica to Napa, in less than three hours. This initiative marks a significant step in urban air mobility, with Southwest Airlines leveraging Archer's expertise in electric vertical takeoff and landing (eVTOL) technology. The partnership will focus on integrating these air taxis at California airports where Southwest operates, enhancing the airline's service offerings and potentially transforming short-haul travel. The Texas-based airline saw an 8% rise in its stock following the announcement.