In late October, Lilium N.V., a leading electric aircraft manufacturer and pioneer in regional air mobility, announced that its principal German subsidiaries were to apply for self-administration proceedings with the competent court in Germany. This filing follows a lengthy and complex government approval process for a loan from the German state-owned investment and development bank KfW, which failed in the Budget Committee of the German parliament.
In a statement announcing the filing, Lilium noted that its international competition had received grants and loans in the US, France, China, Brazil and the UK, and thus the company’s investors believed that German government support was critical to retaining market confidence and…
