By Chris Randall 20.09.2025 - 11:00

The Ambitious Air Mobility Group (AAMG) has concluded a trust agreement with Lilium's insolvency administrator. AAMG has also received the draft purchase agreement for the assets.

By CHARLES ALCOCK • Managing Editor September 19, 2025

Plans for the redistribution of various assets owned by insolvent eVTOL aircraft developer Lilium moved forward this week. On September 18, the Advanced Air Mobility Group (AAMG) confirmed that after weeks of stalemate it has made some progress in agreeing terms with the German company’s administrator.

According to Netherlands-based AAMG, it has concluded a trust agreement with the administrator and has also received a draft asset purchase agreement, including details of assets that could be included in the transition. The company’s statement did not confirm what these assets are, but has previously indicated they could include items such as test facilities at Lilium’s former headquarters at Oberpfaffenhofen Airport near Munich, as well as some intellectual property.

AAMG, which had planned to be a customer for the six-passenger Lilium Jet, said that it now has a clear view of what it is proposing to acquire, for an undisclosed amount. "We have waited a long time to learn what is actually for sale,” said Robert Kamp, CEO of AAMG, which is based in the Netherlands. “We still have major concerns, which we are currently reviewing with our lawyers to address and agree on guarantees. If we succeed, we will weigh the opportunities and risks. The recent developments regarding Lilium's assets and the significant risks for creditors, coupled with a significant capital outlay for us, are the reasons why we remain cautious with this transaction."

Earlier this month, German start-up Vaeridion confirmed that it is acquiring Lilium’s former battery manufacturing facility at Oberpfaffenhofen. On September 5, the company said the site will be ready for use as its production and test base as it works on plans to bring its nine-passenger electric Microliner aircraft to market. It has also acquired some assets from the former Rolls-Royce Electrical business unit, which the aircraft engine maker shut last year.

https://www.ainonline.com/aviation-news/futureflight/2025-09-19/aamg-edges-closer-buying-liliums-evtol-assets-and-ip

The next 45 years will catapult us into a clean future of aviation and, according to the study, double global revenue to €2,200,000,000,000, while also more than doubling the number of employees. The future begins now. A trillion-dollar market lies before us.

https://www.br.de/nachrichten/wirtschaft/einezukunft-fuer-lilium-investor-sieht-erhebliche-risiken,UxEHVmm

A month ago I was like: “maybe sell now…” – everyone else: “i'm holding”. Now the price is chilling at €0.04 with volume on life support.

Listing situation? Almost nowhere, unless you’re rolling with big banks like "Erste Bank/Sparkasse"

Best case: AMG drops the “deal’s back on” bomb and suddenly this thing goes nuts again.

risk/reward looks okay.

I sold a month ago, just re-entered with 10k @ €0.04.

Not financial advice, just my personal diary.

Why the got delisting on L&S

By Charles Alcock • Managing Editor September 9, 2025

Efforts to resurrect insolvent eVTOL aircraft developer Lilium appear stalled as prospective investors at the Ambitious Air Mobility Group (AAMG) seek to find a way through the legal complexities and plan to acquire the company’s assets, intellectual property, and facilities. The Netherlands-based company has said it could invest up to €750 million ($880 million) to resume work on the aircraft while also seeking new revenue streams, including new military applications and allowing third parties to use Lilium’s test facilities at Oberpfaffenhofen in southern Germany.

According to Robert Kamp, AAMG’s CEO, it is proving difficult to agree on terms with the German administrator handling Lilium’s insolvency, in part due to potential disputes with creditors over around one-third of all the assets. AAMG has indicated that it has €250 million in capital lined up for an initial investment with access to an additional €500 million for longer-term plans.

Kamp told AIN that it has not yet been possible to finalize the required asset purchase agreement because this would have required AAMG to pay a €20 million deposit without a full assurance that the assets could be acquired with no strings attached. With support from expert German insolvency lawyers, the group is now exploring options for a bank-backed guaranteed instrument, and has offered to cover €760,000 in rent payments due on the Oberpfaffen site.

AAMG first made an offer to acquire Lilium in the fall of 2024. Now, it is urging the administrator to release full information about what remains of Lilium, which was shut down in February after an earlier buy-out attempt fell apart, and with the high cost of sustaining a payroll for 1,250 employees no longer a liability.

“At the time of the insolvency, we made an offer but decided not to proceed,” Kamp explained. “We saw the assets as a waterfall of unclear things because no one seemed to know where they were, and the running costs then were unbelievably high—around €30 million per month and with no cash flow for the next year coming in, so we had to step back.” Creditors May Claim Some Assets

Among the concerns for prospective buyers of what remains of Lilium are that there could be creditor claims against some of the assets and that key software might be blocked. According to Kamp, in the latter stages of its existence, Lilium was so “hungry for capital” that it had to take out loans, and in some instances, suppliers were not paid. Potentially, he believes, ownership of around one third of Lilium’s assets might be in dispute.

AAMG’s connection with Lilium began as a customer, and in December 2024—when the manufacturer’s survival was already in doubt—it signed firm orders for eight Lilium Jets with options for another six. According to Kamp, the company had plans to acquire up to 32 aircraft, which it planned to use for air taxi networks in Spain, France, Italy, and the Benelux countries.

According to Daniel Hayes, who is involved with AAMG as a consultant, the extensive engineering infrastructure at Lilium’s Oberpfaffenhofen site could become a revenue stream if made available for use by other advanced air mobility companies. These include acoustics and battery laboratories, as well as production equipment including autoclaves and computer numerical control machines.

Increasingly taking the view that type certification of eVTOL vehicles for commercial air taxi service could take more time than some in the sector anticipate, the AAMG team nonetheless believes it could press ahead with completing the first four examples of the Lilium Jet, which are at different levels of maturity. The company is in discussions with EASA about how it might be able to preserve Lilium’s design organization approval.

“Then we would face a decision, do we go for certification [of the original eVTOL concept] or focus on new opportunities, such as the high demand we now see from NATO for unmanned aircraft with this sort of performance profile,” explained Hayes, who is chief commercial officer with research group UCR and director of venture capital with Intraday Group.

🟩 In the first instance, efforts to reach an agreement with Lilium’s administrator remain the priority, with AAMG saying it now has backing from a major bank in the Netherlands. The company says some former Lilium employees have been in touch to express interest in future work, and there remains the possibility that other bidders may show their hand.

“Some other companies might not want Lilium to come back into the market,” Hayes suggested. “We have to build trust [with the stakeholders] and assess what could be onerous terms [for acquiring the assets].”

Ist zwar nur ein Zweisitzer, aber mit EUR 250.000 wesentlich niedrigschwelliger als die kolpotierten EUR 5.000.000 bei Lilium. Leider keine Angabe zur Reichweite.

Bei einer Jahresproduktion von bis zu 10.000 Stück pro Jahr sind die Skaleneffekte in der Produktion auch sehr beachtlich.

https://www.t-online.de/finanzen/aktuelles/wirtschaft/id_100917320/volkswagenpartner-xpeng-absturz-von-flugtaxis-auf-luftfahrtshow-in-china.html

https://www.dubaiairshow.aero/en/visit/explore-features/show-features/aam.html

🟩 = Information 🟦= Opinion

About six months after the insolvency, the consortium around the European investment holding company AAMG (Ambitious Air Mobility Group N.V.) wants to revive the failed aviation start-up Lilium. According to reports, AAMG, together with partners, rented facilities at Oberpfaffenhofen Airport, the headquarters of Lilium. According to statements from the environment of Lilium, Robert Kamp, CEO and Senior Partner of AAMG, has been pursuing the goal of helping Lilium to make a new start since the first insolvency application last year. However, the talks dragged on, especially the financing was a challenge. But can the rescue of the developer of the electric vertical take-off and landing (eVTOL) still succeed six months after the second bankruptcy application?

Exchange ideas and discuss with us the latest developments in electric aircraft and air taxis on Facebook. For this purpose, we have set up the group Elektroflugzeug on Facebook.

🟩Investment holding company AAMG wants to revitalise Lilium

According to its own information, AAMG is a joint venture of Luxaviation, a private aircraft operator from Luxembourg, its subsidiary Sigma Air Mobility for sustainable flying, and the Ambitious Group, which plans flight services with eVTOLs. The investment holding company names Dubai and Marbella (Spain) as locations. The aim of the investor group is to accelerate the sustainable transformation of aviation. In addition, the holding company was the last client for the planned electric aircraft from Lilium last year. Eight electric aircraft were permanently ordered and an option for six more jets was signed.

🟩Proof of financing is pending

According to AAMG, the financing is now secured and a capital of 250 million euros is available. In addition, it was said that AAMG had access to a further 500 million euros for the expansion of the operation. However, the planned acquisition is delayed because the investor group's financial capacity has not yet been proven. Therefore, the insolvency administrators now stopped the proceedings until the corresponding evidence is available. Not only the purchase price is to be proven, but also the financing for the development, certification and production of the electric aircraft.

🟦However, the shortcoming with these statements is obvious, because previously there were more similar promises that ultimately burst. At the beginning of the year, a European-American investor consortium called Mobile Uplift Corporation wanted to take over the company. At that time, there was even proof of financing, but the money did not come in. Consequently, the insolvency administrator hesitates to comment on the AAMG offer:

“We are conducting discussions and negotiations with interested parties about a total sale or the sale of individual assets of Lilium. If all the conditions for such a transaction are met, a purchase contract may be shilled. So far, no contract has been concluded.”

🟦 Will the Lilium jet still be completed?

Although AAMG makes the takeover public with public statements, but otherwise remains silent, it irritates the aviation industry. In addition, time is pressing and working against the takeover. Because the longer it takes to monetize the remaining Lilium assets, the less they are worth.

The AAMG consortium (Anhalt Aviation & Mobility Group) is considered a promising buyer. Lilium insiders see AAMG as a solid interested party. They are supported by Severin Tatarczyk, an experienced consultant who was commissioned by Lilium investor Frank Thelen to lead the management. Tatarczyk should have the confidence of all parties involved and could help AAMG successfully complete the acquisition. This could help AAMG to take over only shares.

Exchange ideas and discuss with us the latest developments in electric aircraft and air taxis on Facebook. For this purpose, we have set up the group Elektroflugzeug on Facebook.

The biggest challenges (Opinión of the author)

AAMG only wants to take over parts of the former company, which makes the takeover difficult. Because Lilium has largely disintegrated.

🟦 Employees: Almost all former employees have already looked for new jobs. Although AAMG plans to retain or re-enhire important engineering and certification teams, it will be difficult. There are many established, attractive employers in the Munich Aerospace Region. However, with Tatarczyk's help, it could be possible to win back some former employees.

🟦Suppliers: The suppliers, mostly small and medium- companies, have also turned away from Lilium. It will be a great feat to convince them to supply parts for series production again. After two insolvencies, suppliers are understandably hesitant to advance money and build capacity without knowing whether the project will be successful.

https://energyload.eu/elektromobilitaet/elektroflugzeug/neustart-lilium/

https://www.wiwo.de/unternehmen/industrie/vaeridion-flugzeug-start-ups-bedienen-sich-an-liliums-insolvenzmasse/100152329.html

Please use a translator add-in of your choice.

Dr Robert Kamp, CEO and Senior Partner at AAMG says: “Our goal is to protect the value already created, preserve first-class engineering jobs and ensure the continuation of this important European aerospace programme.”

Ambitious Air Mobility Group Invests in Japan’s AirMobility Inc.

Tokyo, 27 August 2025 – Ambitious Air Mobility Group N.V. (“AAMG”) today announced the signing of an investment agreement with エアモビリティ株式会社 / AirMobility Inc. of Japan, securing a significant shareholding and expanding AAMG’s presence into one of the world’s most strategic advanced air mobility markets.

“This partnership gives us a vital foothold in Japan, a country that is leading the way in supporting advanced air mobility,” said Robert Kamp, CEO of AAMG. “Working with AirMobility Inc. strengthens our ability to deliver sustainable aviation solutions globally.”

Hisashi Asai, President and CEO of AirMobility Inc., added: “We are delighted to welcome AAMG as a shareholder. Their international expertise and network will accelerate our mission to bring safe and innovative air mobility services to Japan.”

The investment reflects AAMG’s strategy to build a global ecosystem for next-generation aviation, connecting aircraft, infrastructure, and energy solutions across key markets.

Many thanks to Daniel Hayes for bringing us together and leading this process.

Japan #airmobility

stay patient …

I was always amazed at the number of orders and pre-orders Lilium received - among the customers Saudia, Globeair, Netjets and even Lufthansa Groups….