German eVTOL developer Lilium Aerospace has filed for insolvency for the second time after a planned investor rescue failed to materialize.
The company, which initially filed for insolvency in October 2024, had hoped to secure a €200 million (US$210 million) investment from a group of European and North American investors under the Mobile Uplift Corporation consortium. The funding, once described by Lilium as a “major breakthrough,” never arrived, forcing the company to file for insolvency again on Feb. 21.
“While talks about alternative solutions are still ongoing, the chance for restructuring right now is highly unlikely and therefore, operations will be stopped,” the company stated.
Meanwhile, Lilium employees…
