Plans for the redistribution of various assets owned by insolvent eVTOL aircraft developer Lilium moved forward this week. On September 18, the Advanced Air Mobility Group (AAMG) confirmed that after weeks of stalemate it has made some progress in agreeing terms with the German company’s administrator.
According to Netherlands-based AAMG, it has concluded a trust agreement with the administrator and has also received a draft asset purchase agreement, including details of assets that could be included in the transition. The company’s statement did not confirm what these assets are, but has previously indicated they could include items such as test facilities at Lilium’s former headquarters at Oberpfaffenhofen Airport near Munich, as well as some intellectual property.
AAMG, which had planned to be a customer for the six-passenger Lilium Jet, said that it now has a clear view of what it is proposing to acquire, for an undisclosed amount. "We have waited a long time to learn what is actually for sale,” said Robert Kamp, CEO of AAMG, which is based in the Netherlands. “We still have major concerns, which we are currently reviewing with our lawyers to address and agree on guarantees. If we succeed, we will weigh the opportunities and risks. The recent developments regarding Lilium's assets and the significant risks for creditors, coupled with a significant capital outlay for us, are the reasons why we remain cautious with this transaction."
Earlier this month, German start-up Vaeridion confirmed that it is acquiring Lilium’s former battery manufacturing facility at Oberpfaffenhofen. On September 5, the company said the site will be ready for use as its production and test base as it works on plans to bring its nine-passenger electric Microliner aircraft to market. It has also acquired some assets from the former Rolls-Royce Electrical business unit, which the aircraft engine maker shut last year.