Lilium Secures Binding Deal for 50 Jets with Saudia
Ticker: LILMF · Form: 6-K · Filed: Jul 18, 2024 · CIK: 1855756
Sentiment: bullish
Topics: sales-agreement, aviation, eVTOL, MENA
TL;DR
Lilium inks binding deal with Saudia for 50 jets, plus 50 option - HUGE for eVTOL!
AI Summary
On July 18, 2024, Lilium N.V. announced a binding sales agreement with Saudi Arabian Airlines Corporation ("Saudia") for 50 Lilium Jets, with an option for 50 more. This agreement, following a prior MOU from October 2022, represents the largest sale of its kind in the MENA region.
Why It Matters
This significant order from a major airline in the MENA region validates Lilium's electric vertical take-off and landing (eVTOL) aircraft technology and could accelerate its commercial deployment.
Risk Assessment
Risk Level: medium — While a significant order, Lilium's success still depends on regulatory approvals and scaling production for its novel aircraft.
Key Numbers
- 50 — Lilium Jets (Firmly ordered by Saudia)
- 50 — Lilium Jets (Optional additional order from Saudia)
Key Players & Entities
- Lilium N.V. (company) — Registrant and seller of aircraft
- Saudi Arabian Airlines Corporation (company) — Buyer of aircraft
- Saudia (company) — Abbreviated name for Saudi Arabian Airlines Corporation
- 50 (dollar_amount) — Number of Lilium Jets in the binding sales agreement
- 50 (dollar_amount) — Number of additional Lilium Jets under option
- October 2022 (date) — Date of the initial Memorandum of Understanding
- July 18, 2024 (date) — Date of the press release announcing the binding agreement
FAQ
What is the total potential value of the Saudia agreement if all options are exercised?
The filing states a binding agreement for 50 jets with an option for 50 additional jets, totaling a potential of 100 jets.
When was the initial understanding between Saudia Group and Lilium established?
The initial understanding was established via a Memorandum of Understanding signed in October 2022.
What is the significance of this agreement for the MENA region?
The agreement is described as the largest of its kind in the MENA region.
What type of aircraft is Lilium selling to Saudia?
Lilium is selling its Lilium Jets, which are electric vertical take-off and landing (eVTOL) aircraft.
Does this filing indicate any financial figures for the sale?
No, this filing announces the signing of a binding sales agreement but does not disclose specific financial terms or dollar amounts for the sale.
Filing Stats: 1,211 words · 5 min read · ~4 pages · Grade level 12.3 · Accepted 2024-07-18 07:30:20
Filing Documents
- tm2419712d1_6k.htm (6-K) — 19KB
- tm2419712d1_ex99-1.htm (EX-99.1) — 21KB
- tm2419712d1_ex99-2.htm (EX-99.2) — 1KB
- tm2419712d1_ex99-2img01.jpg (GRAPHIC) — 335KB
- 0001104659-24-080681.txt ( ) — 504KB
Forward-Looking Statements
Forward-Looking Statements The information contained in this Report on Form 6-K and the Exhibits attached hereto 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 intend s to operate, (iii) the manner in which Lilium expects to continue to fund its operations, (iv) the expected features and specifications of the Lilium Jet, (v) the anticipated timing of the commercialization and launch of the Lilium Group's business, including the expected timing for the first piloted flight, receiving type certification, and initial deliveries of the Lilium Jet, (vi) the Lilium Group's agreement with Saudia for the purchase of 50 Lilium Jets, with an option for the customer to purchase an additional 50 Lilium Jets, and the potential for PDPs and Lilium's ability to access and utilize such PDPs and the proposed development and operation of an eVTOL network in the customer's regional hubs, and (vii) the timing and completion of signing a comprehensive agreement for aircraft fleet maintenance and support services with the customer and the future revenue streams expected therefrom. 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 are 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 stateme
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Dated: July 18, 2024 Lilium N.V. By: /s/ Klaus Roewe Name: Klaus Roewe Title: Chief Executive Officer and Executive Director EXHIBIT INDEX Exhibit Number Description of Document 99.1 Saudia Group Signs Industry-Leading Sales Agreement With Lilium to Acquire Up to 100 eVTOL Jets 99.2 Corporate Presentation Update