Lilium N.V. (LILM) declined in the current market after recently announcing signing a deal with NetJets and FlightSafety. LILM values at $2.65, losing more than 28.18% compared to Friday’s closing price. The stock closed at $3.69 at the end of the last trading session. The stock volume traded in the previous trading session was around 1.18 million shares. The current market cap of the company is about $840.97 million.
LILM inked deal with NetJets and FlightSafety
IN A RECENT PRESS RELEASE, Lilium N.V. (LILM) announced that NetJets Inc. and FlightSafety International had signed an MOU with Lilium N.V. (LILM) for a strategic partnership. NetJets Inc. is currently the world’s leading aviation firm, while FlightSafety International is the industry’s leading aviation training provider.
According to the deal, NetJets will include 150 Lilium aircraft in its fleet with the right to be used within its existing shared ownership program. NetJets owners will now have more flying options to go along with their current schedules. Lilium expects NetJets to help with a private sales effort for Lilium aircraft buyers. A business model for Lilium’s network in Florida and other parts of the U.S. and Europe will be explored with this partnership by the two companies.
Aviation training and courseware provider FlightSafety International Inc. will support Lilium Jet operations. FlightSafety’s unique training software will help the advanced air mobility business.
LILM CEO’s Remarks
Daniel Wiegand, Co-Founder, and CEO of Lilium said that this alliance is a critical milestone in our ambition to establish radically improved ways of traveling and electrify regional air travel. They believe the private and business professional segments will be future hotspots for the eVTOL revolution. To electrify this market, they look forward to building a long-term strategic partnership with NetJets and FlightSafety.
Conclusion
Lilium N.V. (LILM) looks forward to expanding into different markets like Florida and other U.S. markets with the help of this deal. This is a breakthrough in the company’s history, and the partnership could prove to be a massive success for the company in the future.
