The futures of at least two eVTOL aircraft developers hang in the balance as Lilium and Volocopter scramble to firm up urgently needed new capital to prevent bankruptcy. Over the Christmas and New Year holiday period, the financial foundations at both German companies—founded respectively in 2015 and 2011—shifted precariously against a backdrop of ever-starker contrasts between the sector’s “haves” and “have-nots.”
Volocopter filed for insolvency with the court in Karlsruhe on December 26 and a day later attorney Tobias Wahl was appointed administrator, tasked with finding “a viable solution to maintain regular operations outside of insolvency proceedings.” Under German insolvency laws, the company and its employees can continue to conduct work on its two-seat VoloCity eVTOL vehicle while efforts to find new backers or owners proceed.
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