TRINITY AIR LINKInvestor Kill Sheet · Confidential · March 2026

The deal is not “buy flying cars.”
It is own the node.

Trinity Air Link converts Fort Worth's historic T&P Warehouse into the infrastructure layer every certified eVTOL and qualified autonomous vehicle operator needs to use: vertiport access, AV bays, charging, dispatch, passenger processing, data, and service standards.

24.8%Calculated IRR
Before Terminal

$89.7MNPV @ 10%
Before Terminal

36.8%IRR With
Terminal

$293.2MNPV With
Terminal

$107M–$113MCapital-Light
Investment Case

Investor headline: The preferred capital-light moderate case produces a calculated 24.8% 10-year project IRR before terminal value and $89.7M NPV at a 10% discount rate before terminal value. Terminal value is shown separately as exit/refinance upside, not operating cash flow magic.

Why this is not a moonshot

Operator access model: certified operators carry aircraft, pilots, maintenance, insurance, and fleet financing.
Infrastructure economics: Trinity Air Link monetizes access, charging, dispatch, passenger processing, data, and operator agreements.
Owned fleet stays optional: direct vehicle ownership is a tactical upside case only where route economics are proven.
Multiple revenue streams: air mobility, ground mobility, real estate, technology/data, and ancillary services.

What kills the deal if ignored

Do not lead with a forced $32M vehicle purchase assumption.
Do not blend terminal value into base operating returns.
Do not let the conservative case look like the normal base case if it assumes low demand plus owned-fleet exposure.
Do not pitch as an airline, taxi company, or aircraft leasing company. Pitch as infrastructure.

Return stack

Case	IRR Before Terminal	NPV Before Terminal	IRR With Terminal
Conservative	5.0%	($23.9M)	18.3%
Moderate / Base	24.8%	$89.7M	36.8%
Optimistic	55.7%	$440.3M	62.8%
Owned-fleet stress	(17.2%)	($139.6M)	2.3%

Why now

Texas DOT + Archer selected for federal eVTOL Integration Pilot Program.
Dallas is named in Texas route planning; Fort Worth needs the western DFW infrastructure anchor.
Waymo is already commercial in Austin and expanding toward Dallas.
T&P Warehouse is rare: historic, large, rail-adjacent, downtown, and structurally suited for a mobility hub.

Use of capital

Phase 1: $20M — regulatory, design, site control, partner MOUs, team.
Phase 2: $50M — renovation, rooftop vertiport, AV terminal, charging, systems.
Phase 3: $10M–$32M — operator access infrastructure, dispatch, charging, optional seed fleet.
Phase 4: $22M — launch, operator scale-up, working capital, route expansion.

Investor objections answered

Certification risk: hub can phase AV/real estate/platform revenue while eVTOL certification progresses.
Fleet capex risk: shifted to operators under the preferred model.
Demand risk: conservative platform case is modeled; owned-fleet low-demand case is explicitly stress-tested.
Exit risk: infra recap, strategic acquisition, REIT-like asset sale, or franchise/licensing path.

The ask

Lead or join the Phase 1 financing to lock the site, regulatory pathway, operator access agreements, design package, and public-sector alignment before the Texas eVTOL network hardens without Fort Worth.

$20M
Phase 1 Raise

The deal is not “buy flying cars.”It is own the node.