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Business Air News Bulletin
Business Air News Bulletin
The monthly news publication for aviation professionals.

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Lilium GmbH
Aircraft

Lilium Jet

BAN's World Gazetteer

Germany
The monthly news publication for aviation professionals.

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Lilium and Qell agree funding for jet launch
Net cash from the transaction will be used to fund the commercial launch of Lilium's seven-seater jet and its existing shareholders will roll 100% of their shares into the combined company.
Lilium will receive approximately $584 million of gross proceeds, including from funds managed by strategic and long-term financial investors.
Read this story in our October 2021 printed issue.

Lilium has completed its business combination with Qell Acquisition. The transaction was approved by Qell's shareholders during a special meeting in which more than 98% of the votes cast were in favour of the deal.

Daniel Wiegand, co-founder and CEO of Lilium says: "In 2015 with the clear vision that the decarbonisation of aviation is inevitable, we set out to build a team and product that would radically transform the way the world moves. Six years and five generations of technology demonstrator aircraft later, we're closer than ever to this goal. Today's milestone will bring us even closer to launching our service in 2024 and making sustainable, high-speed regional air travel a reality to communities around the world."

Lilium will receive approximately $584 million of gross proceeds, including from funds managed by strategic and long-term financial investors. Net cash from the transaction will be used to fund the commercial launch of Lilium's seven-seater jet and its existing shareholders will roll 100% of their shares into the combined company.

Barry Engle, CEO and co-founder of Qell adds: "We see Lilium as a once-in-a-lifetime opportunity that will be at the forefront of a whole new industry. Lilium has the capacity to revolutionise regional travel, saving people hours so they can quickly travel from city to city. Using its seven-seater Lilium Jet, Lilium's regional shuttle service should enable sustainable, high-speed transportation. Qell is proud to bring this exciting company to the public markets."

Tom Enders will become chairman of the board and will be joined on the board of directors by Daniel Wiegand, Barry Engle, Gabrielle Toledano, Henri Courpron, David Wallerstein, Niklas Zennström, David Neeleman and Margaret M. Smyth.

Other News
 
Production of Lilium battery packs gets under way
April 17, 2024
The first units off the battery assembly line will be used for verification testing ahead of the Lilium Jet's first piloted flight. Each aircraft will be equipped with ten independently functioning power packs.
Lilium installs Garmin standby flight instruments for eVTOL
April 3, 2024
Lilium began assembly of the first Lilium Jet at its manufacturing and testing facilities near Munich at the end of 2023. The first piloted flight test is targeted to occur in late 2024.
Lilium to prepare Atlantic network for regional eVTOL operations
March 14, 2024
Lilium is to help electrify existing airport infrastructure across Atlantic Aviation's US FBO network to ensure the compatibility of current and future vertiports with Lilium Jets in support of regional air mobility  .