Do these 3 things before closing this tab:
1Clear out junk files and repair common Windows errors2Scan for outdated or missing drivers - takes under a minute3Repair Windows errors before they cause bigger problemsLilium ran out of funding to keep its main German operating companies going in 2024. The German subsidiaries entered self-administration insolvency proceedings in October; the Dutch parent filed for regular insolvency in November. An investor-backed buyer later acquired assets and operations transferred to a successor, Lilium Aerospace, in January 2025. That successor also filed for insolvency in February 2025 after further financing failed to materialise. These were separate proceedings involving different entities—not a rescue that restored a solvent Lilium group.
Why did Lilium run out of money?
Lilium said it lacked the additional funding needed to continue operating its principal German subsidiaries. In an October 2024 filing, the company said those businesses had limited cash and could not continue operating in line with past practice without new funds. Its November filing linked the subsidiaries’ insolvency applications to the failure of financing efforts, including discussions about federal and Bavarian support. These are explanations in Lilium’s own filings, not an independent audit finding. Lilium’s October 2024 filing and November 2024 filing set out the company’s account.
The contemplated public support did not become a completed loan or guarantee. Lilium said Germany’s parliamentary budget committee would not approve a €50 million guarantee for a proposed €100 million convertible loan from KfW. It also said that it and Bavaria had not reached an agreement in principle on a guarantee of at least €50 million. Those figures describe financing under discussion, not money Lilium received.
What happened to each Lilium company?
“Lilium” can refer to the Dutch parent, its German operating subsidiaries, or the later successor business. Their filings and outcomes differed:
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| Entity | What happened | Reported result |
|---|---|---|
| Lilium GmbH and Lilium eAircraft GmbH | On October 28, 2024, the principal wholly owned German operating subsidiaries filed for insolvency and applied for self-administration. The court approved the applications. | Operations later transferred to a successor. GÖRG reported in February 2025 that the original proceedings would be finalised and remaining assets realised for creditors. |
| Lilium N.V. | The Dutch parent filed a motion for regular insolvency proceedings on November 6, 2024. | In a December 2024 filing, it said it did not presently expect proceeds for itself or its shareholders from the subsidiaries’ sale activities. |
| Lilium Aerospace | The successor rescue company took over business operations at the beginning of January 2025, following an asset purchase agreement involving Mobile Uplift Corporation GmbH, a company set up by an investor consortium. | GÖRG reported on February 24, 2025, that the necessary follow-on financing had failed to materialise and the successor had filed for insolvency. |
Was Lilium bought?
There was an asset transaction, not evidence that the original parent or German subsidiaries emerged from insolvency. Lilium announced an asset purchase agreement with Mobile Uplift Corporation GmbH. GÖRG, insolvency counsel for the proceedings, later said substantial parts of the purchase price had been paid before operations transferred to Lilium Aerospace at the start of January 2025. The transfer created a successor operation; it did not prevent that successor from filing for insolvency the following month. GÖRG’s account of the transfer describes the transaction and timing.
Lilium N.V. said it did not expect proceeds for the parent or shareholders from the sale activities. The available information does not establish what individual creditors ultimately recovered, whether shareholders received any distribution, or the final court status of every proceeding.
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Did Lilium go bankrupt?
In ordinary language, it is fair to say Lilium’s businesses entered insolvency and the successor also failed. For precision, the German operating subsidiaries applied for self-administration insolvency proceedings, while the Dutch parent sought regular insolvency proceedings. The successor Lilium Aerospace later filed for insolvency after its financing fell through. Calling all of that simply “Lilium went bankrupt” hides the separate legal entities, dates, and proceedings.
GÖRG’s February 24, 2025 report said the original German subsidiaries’ proceedings would be finalised and their remaining assets realised for creditors. That is a dated report, not confirmation of the final outcome as of October 2026. GÖRG’s February 2025 update also reported the successor’s insolvency and quoted restructuring partner Prof. Dr. Gerrit Hölzle expressing regret that the development occurred despite support from the insolvency estates.
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