Finance, Taxes, Insurance
Financial Gulf Widens Between Electric Aviation Contenders
Cash flow has got the better of some advanced air mobility players
Lilium Jet
In early 2025, Lilium became the "poster child" for advanced air mobility companies who ran out of funding before they could complete development of new electric aircraft. © AIN/David McIntosh

This year started with the high-profile collapse of one of the more well-known European electric aircraft developers, and as 2025 drew to a close, a leading U.S. player raised $1 billion through an initial public offering on Wall Street. The contrast between the respective fortunes of Germany’s Lilium and Vermont-based Beta Technologies speaks volumes about the emerging picture that advanced air mobility has seen increasing polarization between the “haves" and the “have-nots.”

After burning through more than $1.5 billion to develop its six-seat eVTOL aircraft, Lilium was shut down in February when a consortium of prospective new owners failed to come up with promised funds for a buyout. One of several last straws was when the German federal government and Bavarian state officials refused requests for credit guarantees.