In the Midst of Continuing M&A Process, Lilium Receives Up to 14 New eVTOL Orders & Reports Continuing Prep for First Manned Flight

(Munich, Germany) Electric vertical takeoff and landing (eVTOL) vehicle developer Lilium GmbH released its second media update today post-bankruptcy filing and delisting from the NASDAQ exchange, reporting an order from The Ambitious Group for eight Lilium Jets, with options for six more, continued preparation for its first manned flight and continuation of the company’s KPMG-led M&A process for the company’s financial restructuring.

Photo of Lilium’s eVTOL, the Lilium Jet, courtesy of Lilium GmbH.

eVTOl operator The Ambitious Group (A.A.M.G.), which is planning initial operations out of Marbella and Amsterdam, has entered into a binding sales agreement for the purchase of eight Lilium Jets, with an option to acquire an additional six aircraft, per today’s press release from Lilium; the purchase follows an initial Letter of Intent signed in March of 2024.

Lilium’s order pipeline now totals 108 firm orders and reservations, 82 options and nearly 600 aircraft under MOU. In conjunction with Lilium’s preliminary insolvency proceedings, ASL Group canceled its reservation of six Lilium Jet deliveries with the intention to reengage following a successful conclusion of Lilium’s financial restructuring, according to Lilium.

As for Lilium’s aircraft development and testing activities, the Lilium Jet test campaign recently completed a successful landing gear drop test – performed by MA Group at its facilities in Naples, Italy in November – and continues to prepare for its first manned flight.

Per Lilium, post-Lilium’s insolvency filing and the start of preliminary insolvency proceedings under self-administration, the M&A process for Lilium continues as planned, with the KPMG Deal Advisory team operating under the mandate of conducting an open, fair and transparent process.