Archer Aviation (ACHR) said Thursday it has been chosen as the Official Air Taxi Provider for the LA28 Olympic and Paralympic Games and Team USA.
Financial terms were not disclosed.
As part of the partnership, Archer's Midnight electric vertical takeoff and landing aircraft will be integrated into the LA28 Games to transport VIPs, fans and stakeholders, the company said, adding that the collaboration will also involve developing vertiport hubs at key venues and supporting emergency services and security operations during the games.
The partnership also includes promotional support for Team USA, Archer Aviation said.
Shares of Archer Aviation were up over 2% in recent Thursday trading.
Price: 12.00, Change: +0.16, Percent Change: +1.36
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