Archer Aviation (NYSE:ACHR) stock is on the rise Wednesday after the electric vertical takeoff and landing (eVTOL) maker received a new Part 135 Air Carrier & Operator Certificate from the Federal Aviation Administration (FAA).
Archer Aviation notes that this is a major win for the company as it allows the company to prepare for offering commercial flights with its Midnight eVTOL. ACHR is currently waiting for Midnight’s Type Certification before it can be used by commercial airlines.
Archer Aviation founder and CEO Adam Goldstein said the following about this news.
“We are honored to receive the Part 135 Air Carrier & Operator Certificate from the FAA, which is another important stepping stone on the way to commencing commercial air taxi operations with our Midnight aircraft. This milestone reflects our team’s unwavering dedication to safety and operational excellence as we stand up one of the world’s first electric air taxi services for communities across the U.S. with a safe, sustainable and low noise transportation solution.”
ACHR Stock Movement on Wednesday
News of the new certificate for Archer Aviation has shares of ACHR stock up 6.2% as of Wednesday morning. That comes with more than 3.2 million shares of the stock changing hands. This is closing in on the eVTOL company’s daily average trading volume of about 5.2 million shares.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
