Six months after electric vertical take-off and landing (eVTOL) aircraft maker Lilium filed for insolvency, the future of its assets remains unresolved. A consortium led by European investment holding company Ambitious Air Mobility Group N.V. (AAMG) has intensified efforts to purchase the failed aviation startup’s facilities, intellectual property, and technical resources.
On Monday, AAMG confirmed it had formally submitted a purchase agreement under which it would pay €20 million for Lilium’s assets. The group also pledged an immediate €250 million to resume operations, with an additional €500 million available to address potential complications during the revival process. The consortium has already taken steps to secure infrastructure by leasing Lilium’s former headquarters at Oberpfaffenhofen Airport in Bavaria, signalling its intent to restart the aerospace programme.
AAMG, which placed Lilium’s final order before the company’s insolvency, has been engaged in behind-the-scenes planning for months. Senior partner and CEO Dr Robert Kamp has reportedly been working on the recovery strategy since the startup’s initial insolvency announcement. “Our goal is to protect the value already created, preserve first-class engineering jobs and ensure the continuation of this important European aerospace programme,” Kamp said. “Providing a draft asset purchase agreement to a qualified and committed potential buyer does not involve any costs or risks for the insolvency administrators and is a necessary step to enable progress.”
The insolvency administrators have acknowledged ongoing negotiations but stressed that the conditions for a complete sale have not yet been met. The main sticking point is the lack of fully verified proof of financing — a concern rooted in Lilium’s troubled financial history, as its second insolvency was triggered by investors failing to meet funding commitments. AAMG says it has now addressed these concerns by engaging a corporate finance banking partner to provide a guaranteed and secure financial instrument, ensuring payment even in the event of default.
Industry analysts note that the deal could benefit not only the consortium but also the broader European eVTOL sector if successful. However, the insolvency managers remain focused on maximising returns for creditors. “It is crucial that we achieve the best possible sales proceeds in the interests of the creditors,” a spokesperson for the insolvency administrators said. “That is the task of the insolvency administrator.”
If completed, the acquisition would mark one of the most significant attempts to revive a European eVTOL programme following bankruptcy, potentially safeguarding hundreds of engineering jobs and preserving years of aerospace development work. The outcome of the talks is expected to set a precedent for how distressed high-tech aviation assets are handled in Europe.
Source: Electrive