Why Archer Stock Is Surging

Archer Aviation Inc. ACHR shares are rising Tuesday after the company appointed Billy Nolen as its Chief Safety Officer.

What To Know: Nolen was former acting FAA Administrator and comes with 30+ years of experience in safety, regulatory affairs and flight operations. This includes certification reform and new safety management systems for airports during his time as acting administrator at the FAA from April 2022 to June 2023.

"Billy is an incredible leader and has long been a staunch supporter of the eVTOL aircraft industry, spearheading our country's and the FAA's global leadership role in this important area," said Adam Goldstein, Archer's founder and CEO. "Together, we will shape the future of transportation and make sustainable, efficient air travel a reality."

As the company prepares for planned commercialization in 2025, Nolen will play a leadership role to assist Archer in more effectively working with industry stakeholders and help ensuring its safe entry into service.

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ACHR Price Action: Shares of ACHR were up 18.3% at $4.46 at the time of publication, according to Benzinga Pro.

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