Lilium N.V. (NASDAQ: LILM) (“Lilium”), developer of the first all-electric vertical take-off and landing (“eVTOL”) jet, has signed an agreement with AAP Aviation Group AS (“AAP Aviation”) to develop an eVTOL network in Scandinavia. Under the agreement, AAP Aviation intends to purchase 40 Lilium Jets and collaborate with Lilium to identify and develop landing sites in the Scandinavian countries, starting with Norway.
Together, AAP Aviation and Lilium plan to offer sustainable travel mobility to Scandinavia using the all-electric Lilium Jet, supplementing existing regional aircraft routes and ensuring flexible and time-saving low-emission travel between cities and communities. AAP Aviation and Lilium expect the market for on-demand aviation services to grow rapidly, pending authority approval of aircraft models and route infrastructure.
Espen Høiby, CEO of AAP Aviation said: “We have disrupted the aviation industry once before and are set do so again. Due to the mix of water, terrain and mountains, Norway is particularly suited to regional air mobility. With its vertical take-off and landing capability, high speed and regional range, the Lilium Jet can achieve hours of time savings compared with today’s transportation modes. The Lilium Jet performance, its low noise profile and its spacious cabin makes the ideal aircraft to develop sustainable air transport in Scandinavia.”
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AAP Aviation entered the market in 2013. Offering a wide range of professional services for the aviation industry, including crew management, the company, formerly known as OSM Aviation, quickly established operations in 19 countries worldwide, counting more than 6000 employees. Following a restructuring during the covid-19 pandemic, AAP Aviation is well positioned to take a lead role in developing the next phase of sustainable regional air mobility.
Daniel Wiegand, CEO of Lilium said: “Norway is the world’s leader in sustainable practices, known to have the highest penetration of electric car ownership. Together with AAP’s operational expertise and knowledge of the region, we have the ideal conditions for an eVTOL revolution. We are proud to team up with AAP Aviation to bring electric, high-speed mobility to Norway and the rest of Scandinavia.”
The Lilium Jet, which is currently being developed in Germany, is expected to hold between four and six passengers and have a physical range of approximately 250 kilometres.
The proposed arrangement between AAP Aviation and Lilium is subject to the parties finalizing commercial terms and entering into definitive agreements with respect thereto, and the satisfaction of certain conditions.
Date: Jul 19, 2022
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