Phoenix-based Mesa Air Group (Nasdaq: MESA) is working with United Airlines (Nasdaq: UAL) to purchase a fleet of electric aircraft that could one day serve as “air taxis.”
An investment into Silicon Valley startup Archer is part of the regional airline’s effort to invest in emerging technologies that decarbonize air travel, Mesa said in a Thursday press release.
United announced plans to invest in Archer and eventually buy 200 of Archer’s eVTOL (electric vertical takeoff and landing) aircraft – a purchase price of $1 billion.
Mesa said it reached an agreement with United and Archer to purchase 20% of United’s 14,645,614 shares of Archer’s common stock.
Archer’s aircraft is designed to travel at speeds of 150 miles per hour and go as far as 60 miles. United said an Archer flight from Hollywood to Los Angeles International Airport could reduce CO2 emissions by 47% per passenger.