Munich, Germany, 24 December 2024 – Electric aircraft pioneer Lilium GmbH has announced a significant breakthrough in its quest for financial stability. The company has signed an asset purchase agreement with Mobile Uplift Corporation GmbH, a newly formed entity backed by a consortium of seasoned investors from Europe and North America.
The agreement, subject to standard conditions and creditor approval, enables Mobile Uplift Corporation GmbH to acquire the operating assets of Lilium GmbH and Lilium eAircraft GmbH. This deal, expected to close in early January 2025, is a crucial step towards the financial restructuring of the subsidiaries, ensuring they secure the necessary funding to restart operations.
Restructuring Pathway
Proceeds from the asset sale will be allocated under German Insolvency Law, with no distributions to Lilium N.V. The company’s creditors committee, alongside KPMG, assessed investor interest as part of a rigorous mergers and acquisitions (M&A) process designed to stabilise the business.
Once the transaction closes, Lilium aims to exit self-administration proceedings and proceed with a planned restructuring. On 20 December 2024, the subsidiaries terminated all remaining employee contracts under German law. However, Mobile Uplift Corporation intends to rehire these employees immediately after the deal closes.
CEO Statement
Klaus Roewe, CEO of Lilium GmbH, described the agreement as a “major breakthrough,” adding:
“We are very pleased to announce the signing of an investment agreement with a very experienced consortium of investors. Deal closing at the beginning of January will allow us to restart our business.”
About Lilium
Founded in 2015 and headquartered in Munich, Lilium is at the forefront of sustainable, high-speed regional transportation solutions. The Lilium Jet, an all-electric vertical take-off and landing (eVTOL) aircraft, promises zero-emission operations, low noise, and high performance. The company’s mission is to revolutionise regional travel for passengers and cargo while accelerating the decarbonisation of air transport.
Despite entering self-administrated insolvency proceedings, Lilium continues to work with global aerospace and infrastructure leaders, securing interest in its jets from regions including Europe, the United States, China, Brazil, and the Middle East.
Looking Forward
The anticipated deal with Mobile Uplift Corporation represents a lifeline for Lilium and a pathway back to operational capability. With the support of its new investors and the completion of restructuring plans, Lilium hopes to regain momentum in its pursuit of sustainable aviation innovation.
Lilium’s full-year financial results and further updates on the restructuring process are expected in early 2025.
SOURCE: LILIUM IMAGE: ©LILIUM
