TruckElectric
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Pre-pandemic a major focus for airlines was investing in sustainable aviation (probably due to social pressure). This has come in the form of carbon offsetting flights, as well as committing to investing in more sustainable forms of aviation.
Well, United Airlines has just announced its first plans to operate electric planes, though it’s not what you’d think, and the headline almost reads like it could be an April Fools’ joke.
United Airlines to invest in Archer, buy 200 electric air taxis
United Airlines has announced plans to work with air mobility company Archer as part of a broader effort to invest in emerging technologies that decarbonize air travel.
Rather than relying on traditional combustion engines, Archer’s electric vertical takeoff and landing aircraft are designed to use electric motors, and have the potential for future use as “air taxis” in urban markets.
With current technology, Archer aircraft are designed to travel distances of up to 60 miles, at speeds of up to 150 miles per hour. The plan is for future models to travel faster and further. Archer’s plan is to launch between Hollywood and Los Angeles International Airport (LAX), and it’s estimated that it could reduce CO2 emissions by up to 47% per passenger.
Under United’s agreement with Archer:
I have a few different thoughts here, aside from this generally being a nifty concept.
First of all, this seems like an unusual extension for an airline investing in sustainable aviation. These aren’t replacements for jets, but rather are replacements for cars and helicopters. United and Mesa have placed an order for these planes, so will United Express start operating transportation from cities to airports? If so, will there be first class, what will elite benefits look like, and how many miles will need to be redeemed for a flight? ?
Next, I’m not sure I actually fully buy that this is objectively good for the environment. Sure, emissions here are lower than in a helicopter, so if that’s the alternative I suppose that’s true. However:
That makes me believe that United’s primary motivation here is that it thinks Archer is a good financial investment. Archer plans to go public, and United has invested some undisclosed amount in the company. While we don’t know how much cash United is investing right now (presumably a lot of money will be paid down the road), aren’t the optics of United spending money on this while also taking billions in taxpayer support kind of bad?
Bottom line
United Airlines is investing in Archer, and has placed an order for 200 electric air taxis. While these seem like great alternatives to helicopters, I can’t help but find everything else about this a bit strange.
Is United now trying to compete with Uber and Blade? Is this actually at all about the environment, because if this is about reducing emissions on the way to airports, it seems like electric cars would be more useful and accessible? And is this really the time for an airline to be promoting that it’s investing $1 billion in something it believes will “earn a strong financial return,” as it has just taken billions of dollars in taxpayer funds?
SOURCE: ONE MILE AT A TIME
VTOL —
United Airlines orders 200 vertical-takeoff electric airplanes
Startup Archer received investments from United Airlines and Stellantis.
Enlarge / An artist's rendering of Archer's first aircraft, due out in 2024.
The success of uncrewed electric drones in the last couple of decades has caused some people to wonder if similar construction techniques to those used in drones could be employed to create small electric aircraft to carry people.
Not only are electric motors more reliable than conventional engines, but they're also light enough that you can put several of them on a single aircraft, offering an extra margin of safety. The ability to use several motors—together with sophisticated software—means greater design flexibility, opening the door to new types of vertical takeoff and landing (VTOL) aircraft that straddle the line between conventional airplane and helicopter.
This technology got overhyped in the late 2010s. Uber, for example, announced in 2017 that it was aiming to launch a VTOL taxi service in Dallas and Dubai in 2020. Instead, Uber sold off its air taxi efforts to startup Joby in December 2020.
But while the VTOL revolution hasn't happened as quickly as some early boosters hoped, the industry is making progress. The latest sign is an announcement that United Airlines is investing in VTOL startup Archer and has placed a $1 billion order for 200 VTOL aircraft.
Archer is also raising money from Stellantis, the company formed by the recent merger of carmakers Fiat Chrysler and PSA Peugeot. Stellantis will help Archer make the carbon-fiber fuselage for its aircraft. The investments are part of Archer's plan to become a public company via a merger with a Special Purpose Acquisition Company.
While battery electric aircraft have a number of advantages, the low energy density of batteries (compared with fossil fuels) means that electric vehicles have limited range. Archer's first aircraft, due out in 2024, is designed for a range of 60 miles (100km) with a maximum speed of 150 miles per hour (240km/h). This obviously isn't a long enough range to replace conventional commercial airline flights.
Short hops and big hurdles
Archer and others working on this technology envision a new class of intra-urban air service. A United customer might travel a short distance by car to a nearby "vertiport"—perhaps in a suburban parking lot or atop an urban skyscraper. Then the customer might fly 20 or 30 miles to an airport in 15 or 20 minutes—a trip that might otherwise take an hour by car. VTOL aircraft could also rapidly transport passengers between nearby cities—for example, San Francisco to Palo Alto, Dallas to Fort Worth, or Baltimore to Washington, DC.
Of course, it's theoretically possible to do this by helicopter, and some wealthy people already do. But advocates argue that electric VTOL aircraft have the potential to be safer, quieter, and much cheaper than a helicopter. Archer says that its aircraft will produce "minimal noise," and that the cost will be comparable to an Uber ride.
Archer's initial aircraft will require a pilot. But VTOL advocates hope that we'll eventually have software sophisticated enough to steer the aircraft on its own—simultaneously eliminating the cost of paying the pilot and opening an extra seat for a passenger.
Beyond the technical challenges of designing the new aircraft, the VTOL vision also poses significant regulatory challenges. It takes several years for the FAA to sign off on a new aircraft design. Moreover, getting urban air transportation to work at scale will likely require an overhaul of the air traffic control system. A large number of small airplanes traveling short distances could overwhelm the existing system.
SOURCE: Ars Technica
Archer Aviation gets a $1 billion order from United Airlines, on the same day it announces a deal to go public
Archer agrees to merge with SPAC Atlas Crest Investment, to create a public company with an equity value of $3.8 billion
Archer Aviation Inc. said Wednesday that United Airlines Holdings Inc. placed a $1 billion order for its all-electric vertical take-off and landing aircraft (eVTOL), on the same day the company announced a deal that will allow the public to invest in the urban air mobility (UAM) company in the coming months.
The Palo Alto, Calif.-based company said before the open that it entered into a merger agreement with special purpose acquisition company (SPAC) Atlas Crest Investment Corp. (ACIC), which in effect will take Archer public. The company said the deal has an equity value of about $3.8 billion.
Once the deal closes, which is expected to occur in the second quarter of 2021, the combined company will be named Archer and the stock will be listed on the New York Stock Exchange under the ticker symbol "ACHR."
Atlas Crest's stock soared 25.5% in afternoon trading. It has run up 41.5% since it closed at $9.97 on Dec. 18, 2020, which was the day the stock started trading. In comparison, the Renaissance IPO exchange-traded fund (IPO) has rallied 16.9% and the S&P 500 index has gained 6.0%.
The stock's rally follows the United Airlines (UAL) order announcement, which helps legitimize for investors Archer's eVTOL aircraft. United Airlines also has an option to buy an additional $500 million worth of aircraft.
United and Archer also announced a collaboration agreement, in which United will contribute its expertise in airspace management to help Archer develop battery-powered, short-haul aircraft.
"Part of how United will combat global warming is by embracing emerging technologies that decarbonize air travel," said United Chief Executive Scott Kirby. "By working with Archer, United is showing the aviation industry that now is the time to embrace cleaner, more efficient modes of transportation."
Cowen analyst Helane Becker said she believes the U.S. government should be encouraged by the collaboration, as through CARES Act loans (link), the government is an investor in United and Mesa, and therefore should benefit as the industry recovers.
"We believe carbon emissions will be a major focus for airlines in the next two decades, and United is positioning itself to be a leader in this area," Becker wrote in a note to clients.
The aircraft Archer is developing is expected to be able to transport people distances of up to 60 miles at 150 miles per hour. Archer plans to unveil a full-scale eVTOL aircraft this year and begin production in 2023.
By 2024, United, in partnership with Mesa Air Group Inc.'s (MESA) Mesa Airlines, could give passengers a quick, low-emission way to get to airports within the air carrier's major hubs. Once the aircraft is in operation, United and Mesa would buy a fleet of up to 200 aircraft that would be operated by a partner.
"We couldn't be happier to be working with an established partner like United," said Archer co-Chief Executive Brett Adcock. "This deal represents so much more than just a commercial agreement for our aircraft, but rather the start of a relationship that we believe will accelerate our timeline to market as a result of United's strategic guidance around FAA certification, operations and maintenance."
Los Angeles is one of the initial cities that Archer plans to launch its fleet. United estimates that using an Archer-made eVTOL aircraft could reduce CO2 emissions by up to 50% per passenger on a trip between Hollywood and Los Angeles International Airport.
"Archer will provide commuters and travelers the flexibility on a global basis to live farther, commute and adventure faster and transform urban mobility in a greener, zero emissions world," said Atlas Crest Chief Executive Michael Spellacy.
SOURCE: MORNINGSTAR
Well, United Airlines has just announced its first plans to operate electric planes, though it’s not what you’d think, and the headline almost reads like it could be an April Fools’ joke.
United Airlines to invest in Archer, buy 200 electric air taxis
United Airlines has announced plans to work with air mobility company Archer as part of a broader effort to invest in emerging technologies that decarbonize air travel.
Rather than relying on traditional combustion engines, Archer’s electric vertical takeoff and landing aircraft are designed to use electric motors, and have the potential for future use as “air taxis” in urban markets.
With current technology, Archer aircraft are designed to travel distances of up to 60 miles, at speeds of up to 150 miles per hour. The plan is for future models to travel faster and further. Archer’s plan is to launch between Hollywood and Los Angeles International Airport (LAX), and it’s estimated that it could reduce CO2 emissions by up to 47% per passenger.
Under United’s agreement with Archer:
- United will contribute its expertise in airspace management to assist Archer with the development of battery powered, short haul aircraft
- Once the aircraft are in operation and have met United’s operating and business requirements, United will acquire a fleet of up to 200 of these electric aircraft that would operate for Mesa Airlines
- These planes would be intended to give customers a “quick, economical, and low carbon way to get to United’s hub airports and commute in dense urban environments within the next five years”
I guess United’s investment in Archer is cool, but…
I have a few different thoughts here, aside from this generally being a nifty concept.
First of all, this seems like an unusual extension for an airline investing in sustainable aviation. These aren’t replacements for jets, but rather are replacements for cars and helicopters. United and Mesa have placed an order for these planes, so will United Express start operating transportation from cities to airports? If so, will there be first class, what will elite benefits look like, and how many miles will need to be redeemed for a flight? ?
Next, I’m not sure I actually fully buy that this is objectively good for the environment. Sure, emissions here are lower than in a helicopter, so if that’s the alternative I suppose that’s true. However:
- The claim is that CO2 emissions are lower than in cars, but cars are increasingly becoming electric, so it’s not really fair to compare today’s gas cars to an air taxi that will only operate several years down the road, when more cars will be electric as well
- The emissions statistic doesn’t factor in that people will have to get to the air taxi departure points, and that presumably the reduction in emissions are based on these taxis always flying full, which is unlikely to be the case
- At $5 million per frame plus operating costs, seats won’t be particularly cheap, not to mention there will be limits to how many of these can operate at any point; in other words, these won’t fully replace cars and somehow become the way that everyone gets to airports
That makes me believe that United’s primary motivation here is that it thinks Archer is a good financial investment. Archer plans to go public, and United has invested some undisclosed amount in the company. While we don’t know how much cash United is investing right now (presumably a lot of money will be paid down the road), aren’t the optics of United spending money on this while also taking billions in taxpayer support kind of bad?
Bottom line
United Airlines is investing in Archer, and has placed an order for 200 electric air taxis. While these seem like great alternatives to helicopters, I can’t help but find everything else about this a bit strange.
Is United now trying to compete with Uber and Blade? Is this actually at all about the environment, because if this is about reducing emissions on the way to airports, it seems like electric cars would be more useful and accessible? And is this really the time for an airline to be promoting that it’s investing $1 billion in something it believes will “earn a strong financial return,” as it has just taken billions of dollars in taxpayer funds?
SOURCE: ONE MILE AT A TIME
VTOL —
United Airlines orders 200 vertical-takeoff electric airplanes
Startup Archer received investments from United Airlines and Stellantis.
Enlarge / An artist's rendering of Archer's first aircraft, due out in 2024.
The success of uncrewed electric drones in the last couple of decades has caused some people to wonder if similar construction techniques to those used in drones could be employed to create small electric aircraft to carry people.
Not only are electric motors more reliable than conventional engines, but they're also light enough that you can put several of them on a single aircraft, offering an extra margin of safety. The ability to use several motors—together with sophisticated software—means greater design flexibility, opening the door to new types of vertical takeoff and landing (VTOL) aircraft that straddle the line between conventional airplane and helicopter.
This technology got overhyped in the late 2010s. Uber, for example, announced in 2017 that it was aiming to launch a VTOL taxi service in Dallas and Dubai in 2020. Instead, Uber sold off its air taxi efforts to startup Joby in December 2020.
But while the VTOL revolution hasn't happened as quickly as some early boosters hoped, the industry is making progress. The latest sign is an announcement that United Airlines is investing in VTOL startup Archer and has placed a $1 billion order for 200 VTOL aircraft.
Archer is also raising money from Stellantis, the company formed by the recent merger of carmakers Fiat Chrysler and PSA Peugeot. Stellantis will help Archer make the carbon-fiber fuselage for its aircraft. The investments are part of Archer's plan to become a public company via a merger with a Special Purpose Acquisition Company.
While battery electric aircraft have a number of advantages, the low energy density of batteries (compared with fossil fuels) means that electric vehicles have limited range. Archer's first aircraft, due out in 2024, is designed for a range of 60 miles (100km) with a maximum speed of 150 miles per hour (240km/h). This obviously isn't a long enough range to replace conventional commercial airline flights.
Short hops and big hurdles
Archer and others working on this technology envision a new class of intra-urban air service. A United customer might travel a short distance by car to a nearby "vertiport"—perhaps in a suburban parking lot or atop an urban skyscraper. Then the customer might fly 20 or 30 miles to an airport in 15 or 20 minutes—a trip that might otherwise take an hour by car. VTOL aircraft could also rapidly transport passengers between nearby cities—for example, San Francisco to Palo Alto, Dallas to Fort Worth, or Baltimore to Washington, DC.
Of course, it's theoretically possible to do this by helicopter, and some wealthy people already do. But advocates argue that electric VTOL aircraft have the potential to be safer, quieter, and much cheaper than a helicopter. Archer says that its aircraft will produce "minimal noise," and that the cost will be comparable to an Uber ride.
Archer's initial aircraft will require a pilot. But VTOL advocates hope that we'll eventually have software sophisticated enough to steer the aircraft on its own—simultaneously eliminating the cost of paying the pilot and opening an extra seat for a passenger.
Beyond the technical challenges of designing the new aircraft, the VTOL vision also poses significant regulatory challenges. It takes several years for the FAA to sign off on a new aircraft design. Moreover, getting urban air transportation to work at scale will likely require an overhaul of the air traffic control system. A large number of small airplanes traveling short distances could overwhelm the existing system.
SOURCE: Ars Technica
Archer Aviation gets a $1 billion order from United Airlines, on the same day it announces a deal to go public
Archer agrees to merge with SPAC Atlas Crest Investment, to create a public company with an equity value of $3.8 billion
Archer Aviation Inc. said Wednesday that United Airlines Holdings Inc. placed a $1 billion order for its all-electric vertical take-off and landing aircraft (eVTOL), on the same day the company announced a deal that will allow the public to invest in the urban air mobility (UAM) company in the coming months.
The Palo Alto, Calif.-based company said before the open that it entered into a merger agreement with special purpose acquisition company (SPAC) Atlas Crest Investment Corp. (ACIC), which in effect will take Archer public. The company said the deal has an equity value of about $3.8 billion.
Once the deal closes, which is expected to occur in the second quarter of 2021, the combined company will be named Archer and the stock will be listed on the New York Stock Exchange under the ticker symbol "ACHR."
Atlas Crest's stock soared 25.5% in afternoon trading. It has run up 41.5% since it closed at $9.97 on Dec. 18, 2020, which was the day the stock started trading. In comparison, the Renaissance IPO exchange-traded fund (IPO) has rallied 16.9% and the S&P 500 index has gained 6.0%.
The stock's rally follows the United Airlines (UAL) order announcement, which helps legitimize for investors Archer's eVTOL aircraft. United Airlines also has an option to buy an additional $500 million worth of aircraft.
United and Archer also announced a collaboration agreement, in which United will contribute its expertise in airspace management to help Archer develop battery-powered, short-haul aircraft.
"Part of how United will combat global warming is by embracing emerging technologies that decarbonize air travel," said United Chief Executive Scott Kirby. "By working with Archer, United is showing the aviation industry that now is the time to embrace cleaner, more efficient modes of transportation."
Cowen analyst Helane Becker said she believes the U.S. government should be encouraged by the collaboration, as through CARES Act loans (link), the government is an investor in United and Mesa, and therefore should benefit as the industry recovers.
"We believe carbon emissions will be a major focus for airlines in the next two decades, and United is positioning itself to be a leader in this area," Becker wrote in a note to clients.
The aircraft Archer is developing is expected to be able to transport people distances of up to 60 miles at 150 miles per hour. Archer plans to unveil a full-scale eVTOL aircraft this year and begin production in 2023.
By 2024, United, in partnership with Mesa Air Group Inc.'s (MESA) Mesa Airlines, could give passengers a quick, low-emission way to get to airports within the air carrier's major hubs. Once the aircraft is in operation, United and Mesa would buy a fleet of up to 200 aircraft that would be operated by a partner.
"We couldn't be happier to be working with an established partner like United," said Archer co-Chief Executive Brett Adcock. "This deal represents so much more than just a commercial agreement for our aircraft, but rather the start of a relationship that we believe will accelerate our timeline to market as a result of United's strategic guidance around FAA certification, operations and maintenance."
Los Angeles is one of the initial cities that Archer plans to launch its fleet. United estimates that using an Archer-made eVTOL aircraft could reduce CO2 emissions by up to 50% per passenger on a trip between Hollywood and Los Angeles International Airport.
"Archer will provide commuters and travelers the flexibility on a global basis to live farther, commute and adventure faster and transform urban mobility in a greener, zero emissions world," said Atlas Crest Chief Executive Michael Spellacy.
SOURCE: MORNINGSTAR
