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No—not as a completed $200 million cash rescue. On December 24, 2024, Lilium announced a conditional agreement to sell operating assets to an investor-backed company and said the plan included €200 million of proposed investment. Operations briefly moved to a new company, Lilium Aerospace, but the further financing needed to keep it running did not materialize. Lilium Aerospace filed for insolvency in February 2025.
Why was Lilium at risk of insolvency in October 2024?
The first crisis preceded the €200 million rescue proposal. On October 24, 2024, Lilium said Germany’s parliamentary Budget Committee had not approved a federal guarantee connected to a proposed €100 million KfW convertible loan. Lilium said the guarantee was a condition for an associated private fundraising round and that its German subsidiaries would apply for self-administration proceedings. Lilium’s October 2024 announcement describes that sequence.
CEO Klaus Roewe said the company’s plan was “to obtain shareholder investment in a new funding round anchored by a German government backed loan of €100 million.” That was a description of the proposed financing structure, not confirmation that the loan or related investment had been secured.
What did the December 2024 rescue deal actually promise?
On December 24, Lilium announced an asset-purchase agreement with Mobile Uplift Corporation GmbH, a vehicle for an investor consortium. The proposed sale covered operating assets of Lilium GmbH and Lilium eAircraft GmbH. It was not an announced purchase of Lilium N.V., the listed parent, or a cash injection into that parent. Lilium said sale proceeds would be handled under German insolvency law and would not be distributed to Lilium N.V. The company’s announcement said the agreement remained subject to conditions.
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Lilium wrote that, “Subject to the satisfaction of certain conditions precedent,” it expected the agreement to position its subsidiaries to obtain sufficient funding to restart operations. The conditional wording matters: the announcement described an intended path to restarting, not a completed transfer of €200 million in cash.
How should the €200 million figure be read?
AOPA reported the proposed investment as €200 million and rendered it as approximately $208 million at the time. That dollar figure is AOPA’s contemporaneous approximation, not a current exchange-rate conversion. Neither the announced amount nor its approximate dollar equivalent establishes that the full investment was paid. AOPA’s February 2025 report gives the investment figure and reports the later filing.
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Was Lilium saved from bankruptcy?
Only briefly, and not durably. According to insolvency firm GÖRG, operations transferred to the rescue company Lilium Aerospace at the beginning of January 2025. Around 775 jobs were temporarily saved after the investor group was found. But the additional financing needed to continue operations failed to materialize, and Lilium Aerospace filed for insolvency in February. GÖRG’s account of the proceedings describes the transfer and subsequent filing.
AOPA reported that Lilium Aerospace filed on February 21, 2025. That filing was a new insolvency event for the successor company after the operating transfer; it does not mean the original December proposal had been a completed, lasting rescue.
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What happened to the Lilium Jet plans?
Lilium’s October 2024 announcement discussed an expected first flight and delivery schedule, alongside a stated pipeline of more than 780 aircraft. The company grouped firm orders with reservations, options and memoranda of understanding. Those categories are not equivalent: the pipeline figure should not be read as 780-plus firm orders, completed aircraft, certified deliveries or proof that the announced schedule was achieved. The October announcement presents these as company expectations and pipeline categories.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What can be said about Lilium’s status now?
The cited accounts establish the announced asset deal, the brief operational transfer and the successor company’s February 2025 insolvency filing. They do not establish whether later asset sales, rescue efforts or changes in proceedings occurred after that reporting. The February filing is therefore the latest status established here, not a definitive statement about Lilium’s position in 2026.
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