Southwest Airlines Signs Memorandum of Understanding With Archer Aviation to Develop Operational Concepts for Air Taxi Network
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“Southwest is eager to explore the convenience Archer’s air taxis could provide Customers flying
“Archer’s collaboration with
“With Archer’s Midnight aircraft, passengers will be able to fly above traffic to get to the airport faster,” said
Archer and
ABOUT ARCHER
Archer is a leader in the electrification of aviation. The company is designing and developing the key enabling technologies and aircraft that are necessary to power the next great transportation revolution. Archer’s goal is for its proprietary technology to deliver unprecedented connectivity to the people and places across the most congested cities in the world. To learn more, visit www.archer.com.
ABOUT
1Effective
2Based on
3Fulltime-equivalent active Employees
41973-2019 annual profitability
5Southwest’s net zero by 2050 goal includes Scope 1, Scope 2, and Scope 3 Category 3 emissions only and excludes any emissions associated with non-fuel products and services, such as inflight service items.
Archer Forward Looking Statements
This press release contains forward looking statements regarding Archer’s future business plans and goals, including statements regarding its aircraft performance, air taxi network buildout and the timing of Archer’s development, commercialization, and certification of its eVTOL aircraft. In addition, this press release refers to a MOU that is conditioned on the future execution by the parties of binding definitive agreements incorporating the terms outlined in the MOU, which definitive agreements may not be completed or may contain different terms than those set forth in the MOU. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors. The risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed in Archer’s filings with the
Cautionary Statement Regarding Southwest’s Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Specific forward-looking statements include, without limitation, statements related to the Company’s goals, plans, and expectations with respect to electronic air taxi networks and Archer aircraft, including its plans for collaboration with Archer, Southwest Employees, and respective unions, and with respect to maintaining and improving efficient operations. These forward-looking statements are based on the Company’s current estimates, intentions, beliefs, expectations, goals, strategies, and projections for the future and are not guarantees of future performance. Forward-looking statements involve risks, uncertainties, assumptions, and other factors that are difficult to predict and that could cause actual results to vary materially from those expressed in or indicated by them. Factors include, among others, (i) the impact of fears or actual outbreaks of diseases, extreme or severe weather and natural disasters, actions of competitors, consumer perception, economic conditions, banking conditions, fears or actual acts of terrorism or war, sociodemographic trends, and other factors beyond the Company’s control, on consumer behavior and the Company’s results of operations and business decisions, plans, strategies, and results; (ii) the Company’s ability to timely and effectively implement, transition, operate, and maintain the necessary information technology systems and infrastructure to support its operations and initiatives; (iii) the cost and effects of the actions of activist shareholders; (iv) the Company’s ability to obtain and maintain adequate infrastructure and equipment to support its operations and initiatives; (v) the impact of fuel price changes, fuel price volatility, volatility of commodities used by the Company for hedging jet fuel, and any changes to the Company’s fuel hedging strategies and positions, on the Company’s business plans and results of operations; (vi) the Company’s dependence on third parties, in particular with respect to its electronic air taxi networks and the eVTOL aircraft, and the impact on the Company’s operations and results of operations of any third party delays or non-performance; (vii) the Company’s ability to timely and effectively prioritize its initiatives and focus areas and related expenditures; (viii) the impact of labor matters on the Company’s business decisions, plans, strategies, and results; (ix) the impact of governmental regulations and other governmental actions on the Company’s business plans, results, and operations; (x) the Company’s dependence on its workforce, including its ability to employ and retain sufficient numbers of qualified Employees with appropriate skills and expertise to effectively and efficiently maintain its operations and execute the Company’s plans, strategies, and initiatives; and (xiii) other factors, as described in the Company’s filings with the
Source: Archer
Text: ArcherIR
View source version on businesswire.com: https://www.businesswire.com/news/home/20240712421311/en/
Southwest Media Contacts:
Visit the Southwest Newsroom at swamedia.com for multimedia assets and other Company news.
Media Relations Team: 214-792-4847, option 1
Archer Media Contacts:
The Brand Amp - Archer@TheBrandAmp.com
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