Lilium reports significant progress in Q1 2024 Shareholder Letter

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Lilium N.V. (Nasdaq: LILM), a key player in electric aircraft manufacturing and Regional Air Mobility (RAM), has shared its Q1 2024 progress in a shareholder letter. Highlights include significant advancement in the production of Lilium Jets and the start of battery pack production. Testing is underway for the first manned flight and certification, with the commercial order pipeline growing to over 780 aircraft. Key orders were received from UrbanLink and eVolare. Lilium expanded its support network by partnering with Aéroports de la Côte d’Azur, UrbanV, and Atlantic Aviation. The company concluded a successful $114 million fundraise and initiated due diligence for a loan guaranteed by the German Federal Government and the State of Bavaria. Discussions with the French government for a similar loan are also in progress.

  • Significant progress in Lilium Jet production
  • Started battery pack production at Lilium’s facility
  • Testing underway for first manned flight and certification
  • Commercial order pipeline grew to over 780 aircraft
  • Recent firm orders from UrbanLink and eVolare
  • Expanded support network in key markets with new partnerships
  • Successful $114 million fundraise
  • Initiated due diligence for a government-guaranteed loan from Germany and Bavaria
  • Discussions in progress for a French government-guaranteed loan
  • Testing and certification still pending for the first manned flight
  • Dependency on government-guaranteed loans could indicate financial challenges

Lilium's Q1 2024 Shareholder Letter presents several noteworthy financial developments. Firstly, the successful fundraise resulting in $114 million gross proceeds is a significant positive, enhancing the company's liquidity position. This capital injection supports ongoing operations and development efforts, reducing immediate financial risks. Additionally, the company's efforts in securing government guarantees for loans from both the German Federal Government and the State of Bavaria, as well as advanced discussions with the French government for a similar loan, are strategically important. These guarantees potentially lower borrowing costs and provide financial stability amid the costly and lengthy aircraft certification process.

Another key financial point is the expansion of the commercial order pipeline to over 780 aircraft. This includes firm orders and memoranda of understanding, indicating strong market demand and stakeholder confidence. However, the exact financial impact of these orders remains uncertain until they are translated into actual deliveries and revenue.

Rating: The financial developments and capital raises are positive, indicating solid investor confidence and a sound strategy for financial sustainability.

The significant advancements in the production of the first Lilium Jets and the start of battery pack production are important milestones in the aircraft's development. The emphasis on achieving the first manned flight by the end of the year is particularly noteworthy; this milestone is a critical step towards certification and eventual commercial deployment. The successful testing and certification of the Lilium Jet are likely to be pivotal in gaining market trust and regulatory approval, which are essential in the highly regulated aerospace industry.

The partnerships with key players like Aéroports de la Côte d’Azur, UrbanV and Atlantic Aviation are strategic moves that enhance operational support and market penetration in critical regions. These partnerships not only facilitate future operations but also help in establishing a robust support network essential for flight operations and maintenance.

Rating: The engineering milestones and strategic partnerships are positive signs for Lilium's technological progress and market readiness.

Lilium's progress in expanding its commercial order pipeline to over 780 aircraft, including firm orders by UrbanLink and eVolare, reflects strong interest and potential adoption of their product in the market. This market traction is important for Lilium as it validates the demand for regional air mobility solutions and builds a foundation for future revenue. The expansion into key markets like the French Riviera and the U.S. through partnerships with established operators demonstrates a strategic approach to market entry and customer acquisition.

The company's disciplined focus on achieving program milestones and communicating progress effectively is vital for building investor confidence and managing market expectations. However, the market's actual response will hinge on Lilium’s ability to meet these ambitious targets, especially first manned flight and subsequent certification.

Rating: The market interest and strategic partnerships are positive, showcasing strong potential for future growth.

MUNICH, Germany, June 11, 2024 (GLOBE NEWSWIRE) -- Lilium N.V. (Nasdaq: LILM) (“Lilium” or the “Company”), a leading electric aircraft manufacturer and pioneer in Regional Air Mobility (RAM), has released its Q1 2024 Shareholder Letter. The Shareholder Letter discusses Lilium’s progress towards important milestones in the development of its revolutionary Lilium Jet and can be accessed on the Lilium investor relations website. 

Lilium’s Recent Accomplishments   

  • Production of the first Lilium Jets significantly advanced.
  • Battery pack production started at Lilium’s purpose-built battery facility.
  • Testing underway towards first manned flight and certification.
  • Commercial order pipeline grew to over 780 aircraft, including firm orders and memoranda of understanding as well as recent firm orders by UrbanLink and eVolare.
  • Expanded support network in key markets partnering with Aéroports de la Côte d’Azur and UrbanV to bring Lilium Jet flights to the French Riviera and with Atlantic Aviation to support US-wide Lilium Jet operations.
  • Successfully concluded fundraise with $114 million gross proceeds.
  • Started due diligence process for intended loan with guarantees from the German Federal Government and the State of Bavaria.
  • Lilium in advanced discussions with the French government towards a government guarantee-backed loan.

Management Comment

Lilium CEO Klaus Roewe commented: “Lilium continues its disciplined approach. Our focus is on the delivery of key program milestones such as the start of production of our aviation-grade battery packs achieved in April. Our engineering and manufacturing teams are currently working full speed to achieve the first manned flight of the Lilium Jet, targeted for the end of this year. We will be keeping the market abreast of program progress over the course of the year."

Contact information for investors:  
Rama Bondada
Vice President, Investor Relations    

Contact information for media: 
Christine Pierk
Communications Manager
+49 151 53919945

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 1000+ 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

Forward Looking Statements:  

This press release and the shareholder letter referenced herein contain 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 anticipated timing of the commercialization and launch of the Lilium Group’s business in phases, (iv) our ability to successfully patent or otherwise protect our intellectual property and the future performance of our innovations, (v) the expected results of the Lilium Group’s business and business model, including when launched in phases, (vi) our capital raising expectations and the expected timing and/or consummation of the various capital raising transactions, including any related support from local or federal governments or other public sector entities, described herein and the use of proceeds therefrom, (vii) the timing of Lilium’s targeted regulatory and program development milestones, including the first piloted flight of the Lilium Jet and entry into service, (ix) Lilium’s anticipated receipt of pre-delivery payments and the extent to which such payments will help cover Lilium’s capital requirements and (x) estimates regarding future cash spend. These forward-looking statements generally are identified by the words “anticipate,” “believe,” “could,” “expect,” “estimate,” “future,” “intend,” “may,” “on track,” “plan,” “project,” “should,” “strategy,” “target,” “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 are subject to risk 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’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including in the section titled “Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2023, on file with the SEC, and similarly titled sections in Lilium’s other SEC filings, all of which are available at 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 Lilium 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.


What progress did Lilium make in Q1 2024?

Lilium made significant advancements in production, started battery pack production, and grew its commercial order pipeline to over 780 aircraft.

What new orders did Lilium receive?

Lilium received recent firm orders from UrbanLink and eVolare.

How many aircraft orders does Lilium have?

Lilium’s commercial order pipeline has grown to over 780 aircraft.

What partnerships has Lilium formed recently?

Lilium partnered with Aéroports de la Côte d’Azur, UrbanV, and Atlantic Aviation to support Lilium Jet operations.

What financial steps has Lilium taken recently?

Lilium successfully concluded a $114 million fundraise and started due diligence for a government-guaranteed loan from Germany and Bavaria, with similar discussions ongoing with the French government.

When is Lilium's first manned flight expected?

Lilium is targeting the first manned flight of the Lilium Jet by the end of this year.

What is Lilium's Nasdaq ticker symbol?

Lilium's Nasdaq ticker symbol is LILM.

Lilium N.V.


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