Air taxi start-up Lilium: Final end

After a long back and forth, the final end for the German air taxi start-up Lilium now seems sealed. Insolvency administrator Ivo-Meinert Willrodt is selling the patents of the Pfaffenhofen-based company to the publicly traded US company Archer Aviation. This was reported by Handelsblatt on Wednesday. Most recently, the sale of Lilium to the European industrial and investment holding Ambitious Air Mobility Group (AAMG) had failed.

According to the Handelsblatt report Archer Aviation is acquiring the patents for 18 million euros. This involves a portfolio of over 300 patents. These concern high-voltage systems, battery management systems, and aircraft design, as well as flight control systems, electric propulsion systems, propeller technology, and ducted fan technology. Similar to Lilium, the US-American electric aircraft manufacturer also develops vertical take-off and landing aircraft.

Lilium in trouble for some time

At the end of August, it was still stated that AAMG had formally applied to the insolvency administrator for the purchase of Lilium. It was prepared to pay 20 million euros for the start-up's assets and invest another 250 million euros to make the company operational again. However, there were apparently problems with financing, and the sale fell through.

Founded in 2015, the Bavarian air taxi developer Lilium was one of the most exciting start-ups in Germany. The company has developed an electrically powered small aircraft over the past ten years that is intended to take off and land vertically. A total of 1.5 billion euros from investors flowed into the company in several financing rounds. Lilium's e-aircraft were not only intended for use as air taxis but also for other purposes, including as air ambulances for medical emergencies. The first manned flight was planned for early 2025, and the first delivery to customers for next year. But then Lilium ran out of money. The aircraft has not yet reached series production readiness.

Insolvent twice

In the autumn of last year, Lilium had to file for insolvency for the first time. In literally the last second, the investor consortium Mobile Uplift Corporation (MUC) signed a purchase agreement for the operating assets of the two Lilium subsidiaries Lilium GmbH and Lilium eAircraft on December 24, 2024, and announced 200 million Euros in fresh capital. However, the promised money never arrived, and Lilium filed for insolvency for the second time after the failed rescue.

Following insolvency proceedings under self-administration, regular insolvency proceedings have been underway since March of this year. According to insolvency administrator Willrodt, the owner of the patents and protective rights is Lilium GmbH. As Handelsblatt writes, the creditors' committees in both proceedings have now unanimously decided to accept the offer from investor Archer Aviation. The legally binding purchase agreement is currently being implemented.

(akn)