Lilium eVTOL Company Rescued from Insolvency by Investor Consortium

Lilium, a German company developing electric vertical takeoff and landing (eVTOL) jets, has been saved from insolvency after a consortium of investors stepped in to acquire its operating assets. The company had faced financial difficulties, raising over €1.5 billion but ultimately running out of funds. This led to the termination of operations and the laying off of staff.

However, a holiday miracle occurred when a consortium, named Mobile Uplift Corporation, emerged to acquire Lilium, allowing it to restart its business. The consortium will not be purchasing the entire company, but rather the operating assets of two subsidiaries, Lilium GmbH and Lilium eAircraft GmbH. The deal, expected to close in early January, is subject to the approval of the creditors committee. The consortium intends to reemploy the approximately 1,000 staff members who were laid off previously

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