Lilium, amid a financial crisis, continues to put its early stage Lilium Jet through structural testing. [Courtesy: Lilium]
Key Takeaways:
Lilium, the German developer of the all-electric Lilium Jet, has filed for insolvency after failing to secure a loan guarantee from the Bavarian government.
The company has enlisted KPMG to find a buyer for the business or its assets, while over 1,000 employees continue working towards the jet's first crewed flight.
This financial crisis has led to the delisting of Lilium's U.S. shares from Nasdaq and is expected to delay the jet's planned 2025 crewed flight and 2026 entry into service.
The all-electric Lilium Jet, a vertical takeoff and landing (VTOL) design being developed by German manufacturer Lilium, may need to find new life elsewhere.
Lilium on Tuesday enlisted accounting consultancy KPMG to help find a buyer for the business after failing to secure a loan guarantee from the Bavarian government, which forced it to file for insolvency.
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Jack is a staff writer covering advanced air mobility, including everything from drones to unmanned aircraft systems to space travel—and a whole lot more. He spent close to two years reporting on drone delivery for FreightWaves, covering the biggest news and developments in the space and connecting with industry executives and experts. Jack is also a basketball aficionado, a frequent traveler and a lover of all things logistics.
