United Airlines just made a down payment on flying taxis

Yesterday, United Airlines dropped $10m to bring the prospect of flying cabs a little closer to reality.

The payment was made toward 100 of the 200 eVTOL (electric vertical take-off and landing) aircraft it previously requested from Archer Aviation.

The deal at large is valued at $1B, so it appears this payment brings them 1% of the way there.

• American Airlines, which invested $25m in Vertical Aerospace last year, just committed to pre-delivery payments for 50 of their eVTOLs — money yet to be seen.

One problem…

Red tape. The aircraft aren’t approved to fly passengers, though the FAA is working on aircraft examinations, developing pilot requirements, and new airspace procedures, and could grant some certifications by 2024.

Michael Leskinen, head of United’s venture arm, told The Wall Street Journal that the company will announce routes within months and that prices will be like riding in an Uber Black.

We’ll believe it when we see it.