Boeing Cashes In On Subsidiary Sale To Archer Aviation

Boeing's recovery efforts are gaining momentum as the company makes strategic moves to boost its growth. Recently, Boeing sold three of its subsidiaries - Wisk Aero, SkyGrid, and Insitu - to Archer Aviation for an undisclosed sum.

This deal gives Boeing a 19.75% stake in Archer, which focuses on electric vertical take-off and landing (eVTOL) aircraft. This strategic partnership enables Boeing to focus on its core operations while capitalizing on the eVTOL market through Archer.

The news comes after the FAA certified Boeing's 737 MAX 7 aircraft, a move that has been long-awaited by investors.