Good News For Archer Aviation Stock Fans

This article first appeared on GuruFocus.

Archer Aviation (NYSE:ACHR) shares climbed nearly 5% Tuesday as the electric-air-taxi maker prepared to put its Midnight aircraft on display at the California International Air Show later this week.

The aircraft is scheduled for demonstration flights on Sept. 26 and 27 in Salinas, where Archer has conducted flight testing since 2021. The event is part of the company’s No Roads program, which tests Midnight on routes resembling potential commercial operations.

Earlier this month, Midnight completed a round trip between Salinas Municipal Airport and Hollister Municipal Airport, covering more than 40 miles at speeds of up to 125 mph. Each leg took about 12 minutes, while Archer said the same journey can require 40 minutes or longer by car.

Archer plans additional flights to San Martin, San Jose, Oakland and San Francisco before expanding the tour to Southern California, Texas and Florida. The company says the aircraft could shorten some trips to roughly 10 to 20 minutes.