Lilium’s original insolvency filing was made on October 28, 2024, by its German operating subsidiaries, Lilium GmbH and Lilium eAircraft GmbH—not by its Dutch listed parent, Lilium N.V. A proposed rescue deal led to a successor, Lilium Aerospace GmbH, but that company also filed for insolvency in February 2025. The latest dated case milestone established here is the opening of Lilium Aerospace’s proceeding on April 1, 2025; its ultimate outcome is not established by the available court-status information.
Which Lilium companies filed for insolvency?
“Lilium” can refer to several separate legal entities. On October 28, 2024, Lilium GmbH and Lilium eAircraft GmbH—the principal German operating subsidiaries wholly owned by Lilium N.V.—filed for insolvency at the local court in Weilheim. They applied for self-administration under section 270(a) of Germany’s Insolvency Code. Lilium N.V., the Dutch listed parent, was not the entity named in that filing. The company’s SEC filing initially said court approval was uncertain; a subsequent filing reported that the court approved the proceedings. Lilium N.V.’s SEC filing and subsequent filing describe those steps.
Why did the operating companies run out of funding?
The immediate shortfall followed a specific financing setback. Lilium disclosed that on October 17, 2024, it received an indication that Germany’s parliament budget committee would not approve a €50 million government guarantee for a contemplated €100 million convertible loan from KfW. Lilium said its subsidiaries could not raise enough additional funds to continue operating. The guarantee was not itself the loan, and the contemplated loan should not be described as funding Lilium actually received. The SEC disclosure sets out the company’s account.
What did self-administration mean?
In a November 5, 2024 release, Lilium described preliminary insolvency proceedings under self-administration as court-ordered restructuring in which management remained in charge with restructuring experts’ support. That is the company’s explanation of the process, not a guarantee that the business would be saved. In the same release, Lilium said Nasdaq had notified it that trading in its Class A shares and warrants would be suspended at the opening of business on November 6, 2024. Lilium’s release announced both developments.
Free tools Windows power users keep installed
One-click scans. No signup required.
#1 Best Overall
- Revell Model Kit #85-5810, Skill Level 4, Contains 66-Parts, Recommended for ages 12 and up
- Accurate surface details
- Includes GTD-21 surveillance drone with cart
- Decals with authentic U.S. Air Force markings
- Molded in black and clear. Paint and glue required(not included).
Did the rescue effort keep the Lilium Jet program alive?
Lilium pursued a restructuring and sale process, but its announcements did not establish that aircraft were delivered, certified, or backed by durable financing.
Aircraft agreement announced in December 2024
Lilium said operator The Ambitious Group had signed an agreement to buy eight Lilium Jets, with options for six more. This was an announced agreement, not a report of completed aircraft sales or deliveries. Lilium’s announcement described the proposed transaction.
Rank #2
- Revell Plastic Model Airplane Kit #85-5512 is skill level 4 and contains 147 parts. Recommended for ages 12 and up.
- 1:48 scale model, Length 14-1/4", Wingspan 16.75"
- Crew figures and weighted tires. Machine guns mounted in glass nose.
- Decals included to build one of two variants from the 345th Bomb Group, the Air Apaches.
- Molded in light gray and clear. Paint and glue not included.
Conditional asset purchase agreement
On December 24, 2024, Lilium announced an asset purchase agreement with Mobile Uplift Corporation GmbH, which it described as an investor-consortium vehicle. The company said closing was expected in early January 2025 and depended on customary conditions, including the opening of proceedings and creditors’ committee consent. It also said that proceeds would be used under German insolvency law and would not be distributed to Lilium N.V. The announcement alone does not confirm that the transaction closed. The December announcement states its conditions and intended treatment of proceeds.
Why did Lilium Aerospace also file for insolvency?
The proposed successor, Lilium Aerospace GmbH, was intended to continue development with investor financing. On February 24, 2025, restructuring counsel GÖRG reported that Lilium Aerospace had filed for insolvency because financing from an investor group had not arrived in time. GÖRG identified the group as DTM Group, EarlyBird, Fifth Wall, and GenCap. A provisional administrator’s appointment was reported on February 27. An insolvency case profile reproducing court information lists April 1, 2025, as the date the court opened the proceeding. GÖRG’s report and the case profile cover the successor’s filing and procedural milestones.
Rank #3
- IFF antenna array in front of the cockpit distinguishes this CCIP-equipped model from other F-16s.
- Curved form of the F-16 accurately reproduced with trademark Tamiya precision.
- Moveable horizontal stabilizers. "Flaperons" can be modelled in the up or down positions.
- Full ordnance load including AGM-88 HARM, AIM-120C AMRAAM, AIM-9M/X Sidewinder, ECM pod, and fuel tanks included.
- Centerline and inner wing pylons as well as tail assembly feature polycaps to allow easy detachment for storage.
Is Lilium still making the Jet, and what happens to shareholders?
The documented announcements do not establish that the Lilium Jet is currently being produced, available to buy, or certified for service. They describe an intended continuation, a proposed aircraft agreement, and a conditional asset transaction—not completed production or certification. The available material also does not establish an insolvency recovery or payout for creditors or Lilium N.V. shareholders. The October 2024 proceedings concerned the German subsidiaries, while the successor’s separate proceeding followed in 2025; do not treat either filing alone as proof of a particular recovery for parent-company shareholders.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What is the latest established case status?
The newest dated court milestone established here is the opening of Lilium Aerospace GmbH’s insolvency proceeding on April 1, 2025, as reproduced in an insolvency case profile. The available information does not establish the final disposition of that case, the ultimate fate of assets, or a definitive revival or liquidation of the program as of October 5, 2026. The case profile records the opening date; no later authoritative court or administrator update is established here.
Quick Recap
Best Value
- Reissue of the classic 1/120 box scale Boeing B-29
- Measures 10 1/2 inches long with a 14 inch wingspan
- This kit comes molded in silver with clear swivel stand and another display stand option
- Updated decals for 3 versions! Built up by Bill Engar with Dauntless Dotty decals
- Skill Level 2. This 8.1x2.2x15.9 inch package contains 44 parts. Made in the USA.
Rank #4
- 1/72nd scale
- Highly detailed cockpit interior and landing gear
- Authentic markings available for two versions
- Optional part to build as -3 or -5 version included
- Paint and glue not included
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
