Photo: Pixabay
editor
Last update
Give a coffee
Information should be free for everyone, but good journalism costs a lot of money.
If you enjoyed this article, you can check Aviation.Direct voluntary invite for a cup of coffee.
In doing so, you support the journalistic work of our independent specialist portal for aviation, travel and tourism with a focus on the DA-CH region voluntarily without a paywall requirement.
If you did not like the article, we look forward to your constructive criticism and/or your comments either directly to the editor or to the team at with this link or alternatively via the comments.
Your
Aviation.Direct team

Aircraft manufacturer Lilium seeks insolvency in self-administration

Advertising
Print Friendly, PDF & Email

The Munich-based electric aircraft manufacturer Lilium is planning insolvency proceedings under self-administration in order to secure the continued existence of the company and attract new investors.

According to CEO Klaus Roewe, the insolvency should pave the way for a possible new beginning and give the company time to raise fresh capital. Despite around 700 pre-orders for its electric jet and an investment of around 1,5 billion euros to date, Lilium is struggling with financial bottlenecks. The application for a federal government guarantee for a 100 million euro loan from KfW Bank was rejected, while talks are underway about a French guarantee for a further loan of 219 million euros.

The approximately 1.000 employees of the start-up, which is listed on the US Nasdaq stock exchange, have been informed of the plan. The company's stock, which at times traded above $2021 in 14, recently fell to about 20 cents. The trustee will monitor and support management while Lilium continues to hope for new financing opportunities.

Advertising

Leave a Comment

Your e-mail address will not be published. Required fields are marked with * marked

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Advertising