Lilium NV, the US Nasdaq-listed parent of Germany’s Lilium (Oberpfaffenhofen) and Lilium eAircraft, has warned it may have to file for insolvency and stands to lose control of these two wholly-owned overindebted subsidiaries which are themselves due to file for insolvency and self-administration/debtor-in-possession proceedings under German law in the coming days.

In a US stock exchange filing on October 24, the manufacturer of still-in-development electric vertical take-off and landing (eVTOL) aircraft said: “We are…

Source: ch aviation
Read more: Germany's Lilium teeters on bankruptcy as subsidiaries fold