The company behind the Lilium Jet has filed for insolvency after its funding options dried up and promises of new financing failed to materialize.
Lilium Aerospace, which evolved after Lilium GmbH and Lilium eAircraft GmbH filed for insolvency at the end of last year, confirmed on February 21, 2025, that operations had stopped.
“As the funding options to secure Lilium’s future have not materialized in time, Lilium Aerospace has filed for insolvency today”, a spokesperson for Lilium said.
While the electric vehicle takeoff and landing (eVTOL) developer will continue to seek alternative funding sources the company did not hold out much hope.
“While talks about alternative solutions are still ongoing, the chance for restructuring right now is highly unlikely and therefore operations will be stopped,” the spokesperson explained.
After Lilium GmbH and Lilium eAircraft GmbH entered insolvency, hope emerged just before Christmas that a new consortium of investors had been found.
Under the terms of an agreement, the consortium – Mobile Uplift Corporation – would acquire the assets of Lilium, giving the startup the funding it needs to resume operations.
It was reported that €200 million in new funds would be invested in the company, but it appears that the financial lifeline fell away.
“Giving the situation, this is deeply regretful for all employees and Lilium Aerospace thanks them for their resilience and dedication,” the Lilium spokesperson added.
In a social media post, Lilium co-founder Dr. Patrick Nathan said the situation was “heartbreaking”.
“On a pure personal note, reflecting on the past events, I want to share one new key learning with my fellow founders: Never give away control of your own start-up. Never,” Nathan wrote.
Following the Lilium Jet’s planned first flight in early 2025, the developer anticipated receiving pre-delivery payments and new investment to finance the company into 2026.
The company then expected that delivery would begin on its current order pipeline, consisting of firm orders, reservations, options and memorandums of understanding for more than 780 aircraft.
