Lilium Set to File for Insolvency Protection to Salvage eVTOL Aircraft Plan Written 28 October 2024
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Lilium static demonstrator. | Credit: Matti Blume; Wikipedia; CC BY-SA
Aviation International News reports, “Lilium is about to file self-administration proceedings in a German court, implementing a form of insolvency protection as it scrambles to line up further investment to complete the development of its eVTOL aircraft. The company announced the move on October 24, a week after the German parliament’s budgetary committee rejected its application for a €50 million ($54 million) loan guarantee, which blocked a matching €50 million loan from the state of Bavaria.”
Full Story (Aviation International News)