Lilium partners with PhilJets to bring eVTOLs to Asia, starting with the Philippines
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The strategic collaboration between Lilium and PhilJets to establish high-speed regional air mobility in Southeast Asia represents a significant development in the aviation and transportation sectors. The intent to purchase 10 Lilium Jets indicates a tangible commitment to modernizing regional transportation infrastructure, which could have a ripple effect on the broader economy. The focus on eVTOL technology aligns with global trends towards sustainability and innovation in transportation, potentially positioning the Philippines and Cambodia as early adopters in the ASEAN region.
From a market perspective, this agreement could stimulate the demand for advanced air mobility solutions, encouraging other players in the region to consider similar investments. It also suggests a growing confidence in eVTOL technology's commercial viability, which may influence investor sentiment towards companies like Lilium. The partnership could serve as a case study for the practical application of eVTOLs in island nations, potentially opening up new markets for Lilium and similar companies.
The announcement of Lilium's collaboration with PhilJets has potential financial implications for both companies. For Lilium, the sale of 10 jets could provide a significant revenue stream, which is particularly important for a company in the production phase of a new technology. It also establishes Lilium's presence in the Southeast Asian market, which could lead to future sales and partnerships.
For PhilJets, the investment in eVTOL technology may offer a competitive edge in the aviation service market, potentially increasing its market share and profitability. The long-term benefits include operational cost savings associated with electric-powered transportation and the ability to tap into a growing market segment that prioritizes sustainability and efficiency.
The transition to eVTOLs, as evidenced by the Lilium and PhilJets partnership, is a notable step in aviation decarbonization. The Lilium Jet's zero operating emissions can contribute significantly to reducing the carbon footprint of regional transportation. This is particularly relevant given the ongoing development of new major airports in Bulacan and Phnom Penh, which suggests an expanding aviation sector in the region.
The sustainability aspect could also resonate with consumers and regulators increasingly concerned with environmental impact, potentially leading to favorable regulatory conditions and consumer preference for companies that invest in green technologies. This trend could foster a more sustainable aviation industry and encourage further investment in environmentally friendly transportation solutions.
- MoU for strategic collaboration to establish high-speed regional air mobility in Southeast Asia
- PhilJets intends to operate 10 Lilium Jets
- Lilium Jet expected to meet regional transportation challenges of the Philippines
CHANGI, Singapore, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Lilium (NASDAQ: LILM), developer of the first all-electric vertical take-off and landing (eVTOL) jet, and PhilJets, a leading aviation provider of global services in the ASEAN region, today announced the signing of a Memorandum of Understanding at the Singapore Airshow.
The agreement includes the intent to purchase 10 Lilium Jets, as well as a future strategic collaboration on the establishment of an eVTOL operation network across the Philippines and other Southeast Asia countries, such as Cambodia. As part of the agreement, Lilium and PhilJets will partner to develop a future service, including the joint definition of routes, city pairs, and passenger demand for an on-demand eVTOL service in the region.
Both companies will also identify potential sites, requirements, and partners for landing infrastructure, including the identification of vertiport partners in the region, sharing vertiport specifications and access to Lilium’s existing network of charging hardware providers.
The Lilium Jet is purpose built to meet the transportation challenges of the Philippines. As a country with more than 7,500 islands, Lilium’s approach for regional air mobility is a perfect fit for eVTOL service in the Philippines and showcases the broader opportunities for island nations across the globe.
PhilJets currently operates a fleet comprising 15 private jets and helicopters, with plans to expand further in the next three years, and for over a decade has been a mainstay in the Philippines aviation sector. PhilJets currently operates both private and commercial flights, together with a maintenance services affiliate entity supporting over 100 helicopters.
By bringing together PhilJets’ ASEAN market expertise and Lilium’s innovative eVTOL technology, this collaboration is set to redefine regional air mobility across the region. The Philippines and Cambodia are poised for success in aviation decarbonization, with both capital cities currently undergoing development of new major airports in both Bulacan and Phnom Penh.
With the Lilium Jet, designed to offer leading capacity, low noise, and high performance with zero operating emissions, Lilium and PhilJets are planning to bring high-speed regional air mobility to Southeast Asia.
Thierry Tea, Chairman, PhilJets, said: “Our team is proud to collaborate with Lilium on the mission to transform the Philippine´s mobility with eVTOLs. With its growing economy, geography and important tourism industry, the Philippines is a great match to the Lilium Jet´s capabilities. Innovation in aviation is gaining traction among regulators, urban planners and industry leaders of worldwide economies. Providing efficient connectivity to customers while reducing carbon emissions is a major focus for air transport operators such as PhilJets. We are also looking forward to bringing this technology into Cambodia and other countries in the region.”
Sebastien Borel, Chief Commercial Officer, Lilium, said: “Our strategic partnership with PhilJets will expand our footprint even further in Asia, bringing the Lilium Jet to Southeast Asia. The Philippines is well suited for eVTOLs to effectively connect thousands of islands together through sustainable and high-speed air mobility. Asia is a key market for Lilium — and with the unique topographical challenges this region presents, the innovative design of the Lilium Jet is uniquely suited to address them.”
The news follows several partnerships between Lilium and other providers across the world, and the commencement of production of the Lilium Jet late last year.
Lilium contact information for media:
Meredith Bell
Vice President, External Communications
press@lilium.com
Lilium contact information for investors:
Rama Bondada
Vice President, Investor Relations
investors@lilium.com
About Lilium
Lilium (NASDAQ: LILM) is creating a sustainable and accessible mode of high-speed, regional transportation for people and goods. Using the Lilium Jet, an all-electric vertical take-off and landing jet, designed to offer leading capacity, low noise, and high performance with zero operating emissions, Lilium is accelerating the decarbonization of air travel. Working with aerospace, technology, and infrastructure leaders, and with announced sales and indications of interest in Europe, the United States, China, Brazil, the UK, the United Arab Emirates, and the Kingdom of Saudi Arabia, Lilium’s 950+ strong team includes approximately 500 aerospace engineers and a leadership team responsible for delivering some of the most successful aircraft in aviation history. Founded in 2015, Lilium’s headquarters and manufacturing facilities are in Munich, Germany, with teams based across Europe and the U.S. To learn more, visit www.lilium.com.
About PhilJets
PhilJets is a boutique aviation services group of companies including PhilJets Aero Charter Corp (PACC) and PhilJets Aero Services Inc, (PASI) established since 2013 in the Philippines. PACC is specialized in air transport services for commercial air charter, private flights and aircraft management. PASI is specialized in Maintenance Repair and Overhaul (including aircrafts, avionics, electronics, engines) and aerospace products distribution activities.
Lilium Forward Looking Statements:
This press release contains certain forward-looking statements within the meaning of the U.S. federal securities laws, including, but not limited to, statements regarding (i) Lilium N.V.’s and its subsidiaries (collectively, the “Lilium Group”) proposed business and business model, (ii) the markets and industry in which the Lilium Group operates or intends to operate, (iii) the Lilium Group’s partnership with the PhilJets Group as described herein, and (iv) the expected results of the Lilium Group’s business and business model, including when launched in phases. These forward-looking statements generally are identified by the words “anticipate,” “believe,” “could,” “expect,” “estimate,” “future,” “intend,” “may,” “on track,” “plan,” “project,” “should,” “strategy,” “will,” “would” and similar expressions. Forward-looking statements are predictions, projections, and other statements about future events that are based on management’s current expectations with respect to future events and are based on assumptions and subject to risks and uncertainties that are subject to change at any time. Actual events or results may differ materially from those contained in the forward-looking statements. Factors that could cause actual future events to differ materially from the forward-looking statements in this press release include those risks and uncertainties discussed in Lilium N.V.’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including in the section titled “Risk Factors” in Lilium N.V.’s Annual Report on Form 20-F for the year ended December 31, 2022, on file with the SEC, and similarly titled sections in Lilium’s other SEC filings, all of which are available at www.sec.gov. Forward-looking statements speak only as of the date they are made. You are cautioned not to put undue reliance on forward-looking statements, and the Lilium Group assumes no obligation to, and does not intend to, update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
FAQ
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