Lilium NVNASDAQ: LILM

German air-taxi maker Lilium , which is set to file for insolvency after running into a cash crisis, said on Tuesday it had hired consultancy KPMG to explore merger and acquisition options.

MUNICH, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Lilium N.V. (Nasdaq: LILM), a leading electric aircraft manufacturer and pioneer in Regional Air Mobility (RAM), announces that it has appointed KPMG to conduct an open, transparent and fair M&A process. First investor briefings will start soon.

Qell Acquisition (LILM) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.

The heavy selling pressure might have exhausted for Qell Acquisition (LILM) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.

German flying taxi company Lilium, once valued at over £2.5 billion, is on the brink of bankruptcy after the German government blocked crucial funding. Lilium announced it would pursue self-administration, a type of insolvency allowing it to seek buyers or additional funding, after failing to secure two £42 million loan guarantees—one from a state-owned bank and another from the Bavarian government.

Today, air taxi firm Lilium revealed in a U.S. regulatory filing that its two main subsidiaries will file for insolvency in the near future.

Shares of Lilium, the electric vertical take-off and landing (eVTOL) vehicle manufacturer, plunged by more than 61% on Thursday after the company announced in a regulatory filing that its two main subsidiaries would likely file for insolvency in the coming days.

MUNICH, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Lilium N.V. (Nasdaq: LILM), a leading electric aircraft manufacturer and pioneer in Regional Air Mobility (RAM), today announced that its principal German subsidiaries will apply for self-administration proceedings in the next few days with the competent court in Germany. This follows a lengthy and complex government approval process for a loan from KfW, which failed in the Budget Committee of the German parliament.

German air-taxi developer Lilium said on Thursday two of its subsidiaries in the country have decided to file for insolvency following unsuccessful talks with state and federal governments to solve its cash crisis.