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 (VTOL aircraft), 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 its business or assets, a process that follows the delisting of its U.S. shares from Nasdaq.
Despite having 780 orders and prototypes in final assembly, the financial crisis puts the Lilium Jet's planned 2025 crewed flight and 2026 entry into service at risk.
Lilium's management remains focused on restructuring and securing new investment to continue the jet's path to certification and commercial operation.
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.
CREATE A FREE ACCOUNT
Sign up to keep reading
Create a free account to continue. Already a member? Sign in below.
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.
