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Lilium reported in October 2024 that its two principal German operating subsidiaries did not have enough money to continue normal operations. They entered insolvency proceedings days later, and Lilium N.V., the holding company, filed separately in November. In October 2025, the insolvency administrator reported that Lilium’s patents and registered intellectual property rights had been sold to Archer Aviation. That was an intellectual-property transaction—not evidence that Archer bought or restarted Lilium’s aircraft business. The latest company-specific updates cited here are dated October 15, 2025; they do not establish the status of every remaining asset or whether the aircraft program later resumed.
Why did Lilium run out of money?
Lilium said it could not raise enough funding to keep its principal German operating subsidiaries running. The immediate financing effort centered on guarantees for loans, but the proposed arrangements did not come together.
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- On October 17, 2024, Lilium said it had been told Germany’s federal budget committee would not approve a €50 million guarantee for a contemplated €100 million convertible loan through KfW.
- In the same filing, Lilium said it and the state of Bavaria had not reached an agreement in principle on a separate guarantee of at least €50 million.
On October 24, Lilium disclosed that its subsidiaries had limited cash and would need third-party financing—including potentially a buyer for assets—to continue operating as before. Their managing directors had determined that the companies were overindebted or would be unable to pay liabilities as they fell due. Lilium’s October 2024 SEC filing sets out those disclosures. Tagesschau’s contemporaneous account said Lilium spent almost €200 million in the first half of 2024 and had planned first customer deliveries for 2026; those were period-specific figures and plans, not a current spending rate or delivery schedule. Tagesschau’s October 2024 report
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What happened to the company?
The insolvency proceedings involved distinct entities and procedures. Lilium’s German operating companies sought self-administration, while the Dutch holding company filed separately for regular insolvency.
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- October 28, 2024: Lilium GmbH and Lilium eAircraft GmbH filed for insolvency under German law and applied for self-administration. A later company filing said the court approved the proceedings.
- November 6, 2024: Lilium N.V. filed a motion for regular insolvency proceedings. The court appointed a preliminary insolvency administrator on November 8, according to the later filing.
- December 2024: Lilium disclosed a binding agreement with The Ambitious Group for eight Lilium Jets, with an option for six more. The deal depended on Lilium GmbH successfully returning to solvency, so it does not establish that aircraft were delivered. Lilium also reported that ASL Group cancelled a delivery-slot reservation agreement for six aircraft.
- March 2025: Lilium GmbH and Lilium Aerospace GmbH moved from self-administration to regular insolvency proceedings, according to insolvency administrator PLUTA.
The company’s later regulatory filing describes the separate proceedings and December developments: Lilium’s December 2024 SEC filing.
Did Archer buy Lilium?
Not on the evidence of the announced deal. On October 15, 2025, PLUTA reported that the administrator had sold Lilium’s patents and registered intellectual property rights to Archer Aviation and that sales of the remaining assets would continue. PLUTA described the portfolio as more than 300 patents and the price as in the low-to-mid double-digit millions of euros. PLUTA’s account of the transaction
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Archer separately announced a winning bid of €18 million for approximately 300 patent assets. Its figure and PLUTA’s description are not identical formulations: attribute each to its source rather than treating the counts as an exact match. Archer’s announcement
PLUTA insolvency administrator Ivo-Meinert Willrodt said: “After lengthy negotiations in a complex transaction process, Archer prevailed in the bidding process.“ The sale establishes that Archer acquired the described intellectual property; it does not establish that it acquired the whole operating business, restarted production, or resumed Lilium’s aircraft program.
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Is Lilium still operating?
The available company-specific updates cited here do not verify an operational revival. They establish the 2024 funding shortfall and insolvency filings, the move of two German entities to regular insolvency in March 2025, and the patent sale and ongoing asset sales reported in October 2025. They do not establish the final disposition of all remaining assets or the status of the aircraft program on October 4, 2026. The 2024 warning that operations might cease should therefore be read as a disclosure made at that time, not as a new 2026 announcement.
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