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

Jul 12, 2024, 03:43 PM

Southwest Airlines, the Texas-based carrier, 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 eVTOL air taxi networks at California airports where Southwest operates, potentially revolutionizing urban air mobility. This partnership marks a significant step for Southwest, California’s largest airline, in exploring innovative transportation solutions. The announcement has positively impacted the stock prices of both companies, with Archer Aviation's stock rising by 8%. The initiative is expected to leverage Southwest's customer data to optimize the air taxi network.