This news is classified in: Aerospace Urban Air Mobility
Jul 18, 2022
Bristow Group Inc. (NYSE: VTOL) (“Bristow”), the global leader in innovative and sustainable vertical flight solutions, and Lilium N.V. (NASDAQ: LILM) (“Lilium”), developer of the world’s first electric vertical-takeoff and landing (“eVTOL”) jet, announced today a strategic partnership where Bristow will have the option to purchase 50 Lilium Jets in addition to providing maintenance services for the Lilium Jet’s launch network in Florida, and other future U.S and European markets.
The non-binding Memorandum of Understanding (“MOU”) outlines collaboration between Bristow and Lilium on the development of a maintenance program to support the operation of the Lilium Jet, including the ramp up of maintenance in support of the Lilium Jet’s entry into service (“EIS”) and post EIS services. The MOU also enables Bristow to become an authorized service provider for Lilium. The MOU further outlines how Lilium and Bristow may collaborate on the process for achieving the relevant regulatory approvals for operating the Lilium Jet in Florida and plans for Bristow to purchase 50 Lilium Jets.
Lilium is among the first eVTOL companies to pair certified air carriers with infrastructure developers and support services, such as maintenance and repair and flight training. The addition of Bristow as a Part 145 maintenance provider marks significant progress for Lilium, adding another reputable partner to enable its regional air service in North America and Europe.
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Daniel Wiegand, Co-Founder and CEO of Lilium, said, “The Bristow partnership builds on our existing partnerships with other best-in-class organizations. Like our other partners, Bristow is regarded as the best in their field. They are a leading maintenance provider with incredible operational experience. Lilium is committed to working together with the best aviation partners to enable a successful commercial entry for the Lilium Jet.”
Bristow is the global leader in innovative and sustainable vertical aviation solutions to some of the world’s leading offshore energy companies. Bristow is actively transforming its business to embrace innovative and sustainable technology including eVTOL aircraft.
“Leveraging our 70+ year legacy of innovative and sustainable vertical flight to partner with companies like Lilium to usher in a new era of vertical flight solutions is a cornerstone of Bristow’s future operational outlook,” said Christopher Bradshaw, President and Chief Executive Officer of Bristow. “Bristow has played a key role in successfully introducing several new VTOL platforms for the past 50+ years, so it is a natural evolution for us to take a leading role in the new and exciting Advanced Air Mobility market and lend our expertise to innovative and dynamic companies like Lilium. We are excited about the future of vertical lift and the important role Bristow and companies like Lilium will play together.”
The proposed arrangement between Bristow and Lilium is subject to the parties finalizing commercial terms and entering into definitive agreements with respect thereto, and the satisfaction of certain conditions.