Lilium, amid a financial crisis, continues to put its early stage Lilium Jet through structural testing. [Courtesy: Lilium]
Key Takeaways:
German eVTOL manufacturer Lilium has filed for insolvency after being denied a loan guarantee by the Bavarian government, forcing it to seek a buyer for the business.
The company has enlisted KPMG to find a buyer, with restructuring efforts ongoing despite its U.S. shares being delisted from Nasdaq.
This financial crisis jeopardizes the Lilium Jet's development, potentially delaying its inaugural crewed flight (planned for early 2025) and its targeted 2026 entry into service worldwide.
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.
