Lilium, a cash-strapped eVTOL aircraft manufacturer, has agreed to sell its German operating units to a consortium of investors. The deal marks an unlikely rescue for the company, which had faced insolvency following mass layoffs in December.
The agreement, announced on December 24, involves the sale of Lilium’s “operating assets” to Mobile Uplift Corporation, a newly incorporated German company. The deal’s terms were not disclosed, but it is believed that experienced investors from Europe and North America are involved.
Philipp Schoeller, a founding partner of General Capital Group (GenCap), is also part of the consortium. However, details about their relationship with Mobile Uplift remain unclear.
Lilium expects the transaction to close in early January, at which point thousands of staff laid off in December will transfer to the new business. The company aims to implement a restructuring plan for its subsidiaries to restart operations and exit insolvency proceedings.
The deal’s impact on the Lilium Jet project is uncertain, given the ambitious timeline and recent disruptions. A first flight target of 2025 and certification in 2026 may be at risk due to the staff layoffs and rescue deal.
Source: https://www.flightglobal.com/aerospace/lilium-lifted-by-christmas-miracle-as-last-minute-sale-agreed/161218.article