{"id":24802,"date":"2025-01-12T20:14:29","date_gmt":"2025-01-12T20:14:29","guid":{"rendered":"https:\/\/peraltafinancing.com\/airbus\/lilium-on-the-clock-to-survival-or-dissolution\/"},"modified":"2025-01-12T20:14:29","modified_gmt":"2025-01-12T20:14:29","slug":"lilium-on-the-clock-to-survival-or-dissolution","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=24802","title":{"rendered":"Lilium on the clock to survival or dissolution"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p><strong>Update, Jan. 4, 2025<\/strong>: <a href=\"https:\/\/aviationweek.com\/aerospace\/advanced-air-mobility\/investors-inject-more-eu200-million-relaunched-lilium\">A German investment group will pump \u20ac200m<\/a>+ into Lilium, purchasing all its assets.<\/p>\n<p><strong>By Scott Hamilton<\/strong><\/p>\n<p><strong>Dec. 19, 2024, \u00a9 Leeham News<\/strong>: Lilium, one of the earliest battery-powered eVTOLs, has two weeks to raise \u20ac1m to give it more time to fully reorganize\u2014or on Jan. 1, the company moves into dissolution.<\/p>\n<p>Lilium filed for bankruptcy in the US and insolvency under German law in November. As a German company, its future is governed by much stricter insolvency laws than in the US where bankruptcy laws give the debtor wide latitude and almost unlimited time to reorganize.<\/p>\n<p>Under German law, Lilium has until Dec. 31 to raise \u20ac1m to tide it over while substantial funding is raised or a merger with a healthy partner can be arranged.<\/p>\n<p>Lilium has an order and commitment book for more than 700 of its eVTOL, a 6-8 passenger Advanced Air Mobility (AAM) design that is flown by one pilot. The advertised range is enough to fly from New York City to Philadelphia. Lilium calls the AAM an electric jet, but in reality the powerplants are electric motors\u2014a lot of them.<\/p>\n<div id=\"attachment_45858\" style=\"width: 453px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/leehamnews.com\/wp-content\/uploads\/2024\/12\/LILIUM.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-45858\" class=\"wp-image-45858 size-full\" src=\"https:\/\/leehamnews.com\/wp-content\/uploads\/2024\/12\/LILIUM.jpg\" alt=\"\" width=\"443\" height=\"270\"\/><\/a><\/p>\n<p id=\"caption-attachment-45858\" class=\"wp-caption-text\"><strong>Lilium&#8217;s &#8220;jet&#8221; eVTOL battery-powered aircraft. Credit: Lilium.<\/strong><\/p>\n<\/div>\n<p>But Lilium has gone through $1.1bn. It pays its executives handsomely, with critics complaining that they are way overpaid for a start-up company with no revenue. It purchased the former Dornier executive offices and built three big hangars to house parts and components, pre-production and final production.<\/p>\n<div id=\"attachment_45859\" style=\"width: 1927px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/leehamnews.com\/wp-content\/uploads\/2024\/12\/Lilium-HQ.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-45859\" class=\"wp-image-45859 size-full\" src=\"https:\/\/leehamnews.com\/wp-content\/uploads\/2024\/12\/Lilium-HQ.jpg\" alt=\"\" width=\"1917\" height=\"1023\"\/><\/a><\/p>\n<p id=\"caption-attachment-45859\" class=\"wp-caption-text\"><strong>Lilium bought the former Dornier headquarters at Munich&#8217;s research airport, and built three hangers. Critics point to this expense as an example of overspending. Credit: Lilium.<\/strong><\/p>\n<\/div>\n<p>Critics say Lilium\u2019s design is impractical, far behind schedule, and has yet to undergo meaningful flight testing.<\/p>\n<p>Be that as it may, the company believes that German politics got in the way of approving a $100m Bavarian state loan that was a prerequisite for an equal investment from private sources. The critics say Lilium\u2019s spending and executive pay played a role in Bavaria\u2019s rejection.<\/p>\n<\/p><\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Update, Jan. 4, 2025: A German investment group will pump \u20ac200m+ into Lilium, purchasing all its assets. By Scott Hamilton Dec. 19, 2024, \u00a9 Leeham News: Lilium, one of the earliest battery-powered eVTOLs, has two weeks to raise \u20ac1m to give it more time to fully reorganize\u2014or on Jan. 1, the company moves into dissolution. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":24803,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12027],"tags":[2851,5788,16820,10652],"dealstore":[],"offerexpiration":[],"class_list":["post-24802","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-airbus","tag-clock","tag-dissolution","tag-lilium","tag-survival"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Lilium on the clock to survival or dissolution - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=24802\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lilium on the clock to survival or dissolution - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"Update, Jan. 4, 2025: A German investment group will pump \u20ac200m+ into Lilium, purchasing all its assets. 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