Archer Aviation Inc (NYSE:ACHR) shares are trading lower on Wednesday despite announcing a partnership with Cleveland Clinic Abu Dhabi to establish the UAE’s first hospital-based vertiport for electric vertical takeoff and landing (eVTOL) aircraft operations.
What’s To Know: Archer announced plans to develop a vertiport at Cleveland Clinic Abu Dhabi through the aviation authority’s framework allowing hybrid operations. The facility would enable electric air taxi service to the hospital for both routine passenger flights and urgent organ deliveries using Archer’s Midnight aircraft.
