An air taxi company hoping to transform travel in time for the 2028 Olympic Games in Los Angeles is poised to purchase a local airport.
\nArcher Aviation, based in San Jose, signed agreements to buy the Hawthorne Municipal Airport in a $126 million all-cash deal, L.A. Business First reported.
\nThe airport at 12101 Crenshaw Boulevard is on an 80-acre property with 190,000 square feet of airport, office and hangar space. It was previously owned by the City of Hawthorne, which has used it as an aviation reliever airport. The price amounts to $663 per square foot.<\/p>\n
Archer plans to base operations for a planned air taxi network in Los Angeles at the airport.
\nThe company specializing in electric vertical takeoff and landing (eVTOL) vehicles was selected as the official air taxi partner of the LA28 Olympic Games.
\nArcher is also the exclusive air taxi partner for the Los Angeles Sports & Entertainment Commission, which supports Los Angeles as a host city for the 2026 FIFA World Cup and Super Bowl LXI, slated to take place at SoFi Stadium in Inglewood in 2027.
\nBesides running its operations out of the Hawthorne Airport, Archer plans to use the facility as an \u201cinnovation testbed\u201d for its artificial intelligence-powered aviation technologies, including AI-powered air traffic and ground operations management.<\/p>\n
At the same time as it acquired the Hawthorne Municipal Airport, Archer announced that it raised $650 million in additional equity capital. The company\u2019s total liquidity is now more than $2 billion.
\nTo successfully operate a region-wide air taxi program, especially with a high-traffic event like the Olympics or World Cup, several takeoff and landing sites will need to be established for Archer\u2019s operations.
\nLast month, Cushman & Wakefield was tapped by Atlantic Aviation subsidiary VertiPorts by Atlantic to secure leases for \u201cvertiports,\u201d or landing pads for eVTOL vehicles. Archer plans to offer 10- to 20-minute flights between SoFi Stadium, Los Angeles International Airport and various locations from Santa Monica to Orange County.<\/p>\n
Commercial brokerage maps air taxi strategy for LA market
\nFlying vehicle maker grows San Jose presence with 105K sf lease
\nCushman & Wakefield tapped to find rooftops for flying taxis in LA<\/p>\n
The acquisition of the Hawthorne Municipal Airport by Archer Aviation marks a significant step towards transforming travel in Los Angeles, particularly with the upcoming 2028 Olympic Games. With its plans to establish a region-wide air taxi program and use the airport as an innovation testbed for its AI-powered aviation technologies, Archer is poised to make a significant impact on the city’s transportation landscape.<\/p>\n
Q: How much did Archer Aviation pay for the Hawthorne Municipal Airport?
\nA: Archer Aviation paid $126 million in an all-cash deal for the Hawthorne Municipal Airport.
\nQ: What are Archer’s plans for the airport?
\nA: Archer plans to base its air taxi network operations at the airport and use it as an innovation testbed for its AI-powered aviation technologies.
\nQ: What events will Archer be providing air taxi services for?
\nA: Archer will be providing air taxi services for the 2028 Olympic Games, the 2026 FIFA World Cup, and Super Bowl LXI.<\/p>\n","protected":false},"excerpt":{"rendered":"
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