Work continues at Lilium as M&A process with KPMG launched
November 5, 2024
Lilium has appointed KMPG to “conduct an open, transparent and fair [merger and acquisition] process,” following the local court of Weilheim’s approval of Lilium’s insolvency filings, as work continues on the Lilium factory floor.
With the court granting Lilium’s application for self-administration – a process that will see Lilium’s management remain in charge to “lead the business through the proceedings, supported by restructuring experts” – two lawyers with restructuring experience have also been appointed to the board of Lilium’s subsidiaries (Lilium and Lilium eAircraft).
Lilium CEO Klaus Roewe remains positive about his company’s position, stating: “With the support of our appointed custodian and the restructuring experts, we at Lilium remain fully focused on re-emerging following restructuring, with fresh investment to support the all-electric Lilium Jet’s path to certification and entry into service”.
In the meantime, work at Lilium continues, with over 1,000 employees “having been informed on the details of continued employee payment”. At the end of October, Lilium engineers moved a fully-assembled, conforming Lilium Jet airframe into the static test rig, described as “a significant advance for the programme,” and an essential part of the testing plan prior to the first crewed flight.
Lilium currently has two aircraft on its final assembly line, the first of which recently completed its initial power-on milestone and is shortly set to move into the ground testing phase. The fuselage and wings of the third aircraft are currently being assembled at aerospace suppliers Aciturri and Aernnova.
