Lilium Files Second Bankruptcy as Rescue Deal Collapses

The German electric aircraft startup halts operations after a promised €200 million investment fails to materialize.

Lilium, the Bavarian electric aircraft startup, has filed for bankruptcy for the second time in four months, ceasing operations indefinitely.
A €200 million rescue deal from a European-American investor consortium, announced in December, fell through as the funds were never transferred.
The company had raised €1.5 billion since its founding in 2015 but failed to bring its electric vertical takeoff and landing (eVTOL) aircraft to market.
Lilium's 770 employees have not received salaries for January and February, and the company states further restructuring is highly unlikely.
Other players in the air mobility sector, including Volocopter and Airbus, are also facing setbacks, highlighting challenges in battery technology and market demand.