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Flying Taxis Face Financial Fire | Business and Finance News
Description
Two electric flying taxi startups, Archer and Joby, are racing to revolutionize urban air travel—but both are burning cash at alarming rates. Archer has a billion-dollar deal with United and manufacturing support from Stellantis, but posted a $618M net loss and $511M negative free cash flow. Joby, backed by Toyota and tied to Delta and Uber, saw $53M in revenue but a $930M net loss and $563M negative free cash flow. Joby’s lower valuation compared to Archer hints at investor optimism—or caution—about which company can survive the FAA certification gauntlet and legal battles. The future of flying taxis hinges on who can turn massive losses into sustainable growth before the competition—or regulators—catch up.
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