Lilium

Lilium is an aerospace startup founded in 2015 in Munich that developed one of the most ambitious electric vertical take-off and landing (eVTOL) aircraft in the European landscape, designed for regional passenger transport as an electric alternative to short-haul flights and helicopters. For nearly a decade, Lilium represented one of the symbols of so-called "advanced air mobility," raising substantial capital and generating enormous media attention around the promise of zero-emission urban air mobility. The company's trajectory, however, ended dramatically between 2024 and 2025. In October 2024, Lilium filed its first insolvency petition after the German parliament's budget committee denied a state guarantee on a €50 million loan. An agreement with a consortium called Mobile Uplift Corporation, signed on December 24, 2024, appeared to have rescued the company's German assets, but the subsequent €200 million financing expected from European and North American investors never materialised, forcing Lilium to file a second insolvency petition on February 21, 2025. Lilium Aerospace confirmed on that date that operations had ceased, stating that while talks about alternative solutions continued, restructuring possibilities were now considered highly unlikely. The original plan called for building six test aircraft to progress toward EASA certification with a targeted entry into service in 2026 — a milestone never reached. Lilium's story, alongside that of other struggling European eVTOL operators like Volocopter, raises deep questions about the near-to-medium-term economic sustainability of the advanced air mobility sector, despite the technological enthusiasm that has surrounded it.