Archer Aviation has signed a series of definitive agreements to acquire control of Los Angeles asset, Hawthorne Airport, for $126 million in cash.
The airport is located in the heart of LA, sits on an 80-acre site, and includes approximately 190,000 square feet of terminal, office, and hangar facilities.
The historic Hawthorne Airport was built in the 1920s and once helped shape Southern California's aerospace legacy, and is also known as Jack Northrop Field.
It is strategically located less than three miles from LAX, and is the closest airport to attractions such as SoFi Stadium, The Forum, Intuit Dome, and Downtown L.A.
Archer intends to use the airport as its operational hub for its planned LA air taxi network operations, including serving a key role in the LA28 Olympics Games.
Archer also plans to utilise the airport as an innovation testbed for the next-generation AI-powered aviation technologies that it is developing and planning to deploy with its airline and technology partners. This includes AI-powered air traffic and ground operations management, in addition to other key technologies.
Meanwhile, Archer has reported a net loss for the third quarter of 2025 of $129.9 million, which decreased by $76.1 million from the second quarter of 2025.
The net loss increased by $14.6 million from last year, primarily due to the $52.7 million increase in total operating expenses.
Adjusted EBITDA for the reporting period was a loss of $116.1 million, a decrease of $2.6 million from the second quarter of 2025, due to the timing of the spend on parts and materials as the company continues to execute on its aircraft program development milestones and manufacturing ramp up.
Archer expects losses to continue into the fourth quarter with an anticipated adjusted EBITDA of a loss of $110 million to $140 million.
Also this quarter, Archer closed its acquisition of Lilium’s portfolio for $21 million, giving the company access to next-generation technology in ducted fans, high-voltage systems, flight controls, electric engines, and propellers.
Archer has raised $650 million of additional equity capital, taking its total liquidity to over $2bn.