Archer to Acquire Los Angeles Area Airport as Strategic Air Taxi Network Hub and AI Testbed

Archer signed definitive agreements to acquire control of Hawthorne Airport for $126 million in cash. The airport is centrally located in Los Angeles, less than three miles from LAX and the closest airport to some of the city’s biggest destinations, such as SoFi Stadium, The Forum, Intuit Dome and Downtown Los Angeles. The acquisition price includes the master lease of the Hawthorne Airport, as well as certain subleases held by the seller parties with tenants at the airport. The airport sits on an 80-acre site and includes approximately 190,000 square feet of terminal, office and hangar facilities.

Archer is supported by United Airlines through its investment arm, United Airlines Ventures. The company disclosed that plans for the airport to serve as its operational hub for its planned L.A. air taxi network and as a test bed for the AI-powered aviation technologies it is developing and plans to deploy with its airline and technology partners.

“Archer’s trajectory validates our conviction that eVTOLs are part of the next generation of air traffic technology that will fundamentally reshape aviation,” said Michael Leskinen, United Airlines’ chief financial officer, in a statement.

Moelis & Company acted as lead placement agent, and Cantor Fitzgerald & Co. acted as joint placement agent to Archer on the capital raise. Moelis & Company also acted as financial advisor on the Hawthorne Airport acquisition transaction.

Information for this article was sourced from Archer.