The Ambitious Air Mobility Group (AAMG) said it has signed a trust agreement with the insolvency administrator of Lilium and received a draft purchase contract for the German air taxi developer’s assets, but warned that legal and financial risks could still derail a deal.
The review process aims to clarify the scope of Lilium’s intellectual property, technical data and physical assets. AAMG said it will only weigh potential opportunities against risks once legal guarantees are secured.
“We have been waiting a long time to find out what is actually for sale. We still have major concerns, which we are currently reviewing with our lawyers in order to resolve them and agree on guarantees,” said Robert Kamp, CEO and Senior Partner at AAMG. “If we succeed in doing so, we will weigh up the opportunities and risks.”
Lilium, once seen as a frontrunner in Europe’s electric vertical takeoff and landing (eVTOL) sector, entered insolvency proceedings in late 2024 after anticipated German government support failed to materialise. The company and its subsidiaries filed for insolvency within days of each other, and a first rescue attempt early this year collapsed, leading to a second round of proceedings in February.
AAMG emerged in August as a prospective buyer, though it remains a little-known player in advanced air mobility. Other companies have also moved to acquire parts of Lilium’s business, with Munich-based startup Vaeridon taking over one of its production facilities earlier this month.
Source: Electrive