Archer Aviation (ACHR) Completes the First Phase of its Hawthorne Airport Acquisition

​Archer Aviation Inc. (NYSE:ACHR) is one of the Best Aerospace Stocks to Buy According to Analysts. On December 9, Archer Aviation Inc. (NYSE:ACHR) announced completing the first phase of transactions to acquire control of Hawthorne Airport.

​This update follows a series of definitive agreements the company signed in November to acquire control of this one-of-a-kind airport. It is situated at a strategic location, less than three miles from LAX, and is also closest to three main attractions, including SoFi Stadium, The Forum, Intuit Dome, and Downtown L.A. Management noted that they plan to use the airport as its operational hub for its L.A. air taxi network. Moreover, Archer Aviation Inc. (NYSE:ACHR) also plans to use the airport for testing its next-generation AI-powered aviation technologies.

​That said, a day earlier on December 8, Cantor Fitzgerald reiterated a Buy rating on Archer Aviation Inc (NYSE:ACHR) without disclosing any price targets. The firm noted that its optimistic outlook is based on the company’s plan to launch an air taxi network in the Miami area, announced on December 3. The anticipated network will connect Miami, Fort Lauderdale, Boca Raton, and West Palm Beach, offering 10 to 20-minute flights. The firm believes that it will reduce congestion and improve regional mobility between the said locations.

​Archer Aviation Inc. (NYSE:ACHR) is an aerospace company engaged in the development of innovative technologies to power the future of aviation.

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Disclosure: None. This article is originally published at Insider Monkey.