Finance, Taxes, Insurance
Lilium Closes eVTOL Business As New Investment Falls Through
Group of investors fail to complete takeover of German company assets
Lilium Jet at EBACE 2024 show
The Lilium Jet eVTOL model was expected to enter commercial service, carrying four to six passengers, by the end of 2026. © AIN/David McIntosh

German eVTOL aircraft developer Lilium today filed for insolvency for the second time in just under four months after a consortium of investors failed to produce promised new capital. In a short statement, Lilium Aerospace—the name the company adopted in early January after MUC Mobile Uplift Corporation agreed to buy the group’s German assets—indicated the business will now shut down.

“While talks about alternative solutions are still ongoing, the chance for restructuring right now is highly unlikely and therefore operations will be stopped,” the company said. “Given the situation, this is deeply regretful for all employees and Lilium Aerospace thanks them for their resilience and dedication.”

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