German buzzing aircraft startup Lilium is without question negotiating the terms just for a 220-aircraft, $1 billion order that have one of Brazil’s largest native airlines, the companies said Sunday. Should the deal with Azul improve, it would mark the largest sequence in Lilium’s history and its certainly first foray into Sth American markets.
“A term sheet to get signed and we will move on the a final agreement in the travelling months, ” a Lilium spokesperson told TechCrunch.
The 220 airplanes would fly as part of the brand new, co-branded airline network kind operate in Brazil. If the two companies come to a, Azul would operate and keep the fleet of the range topping 7-seater aircraft, and Lilium would provide custom spare parts, as well as replacement batteries, and some sort of aircraft health monitoring place.
Deliveries would commence at 2025, a year after Lilium has said it plans to start with commercial operations in The eu and the United States. These duration bound timelines are dependent upon Lilium insurance coverage key certification approvals on each country’s requisite bump regulator. Azul said a new statement it would “support Lilium with the necessary regulatory agreement processes in Brazil” as a part of agreement.
Whether you may not a deal is reached, it likely be subject to Lilium hitting certain performance standards while benchmarks, similar to the conditions together with Archer Aviation’s $1 billion order with United Air companies. Still, orders of this value for money are seen as a positive suggest to markets and associates that an electric vertical take-off and landing aircraft is usually more than smoke and mirrors.
Also like Archer, Lilium is planning on taking the SPAC route to going public. Dee engineering in March announced our intention to merge together with Qell Acquisition Corp. in addition to the list on Nasdaq supporting ticker symbol “LILM. ” SPACs have become a popular venue for public listing amoung all the transportation sector, but they’ve become especially popular with capital-intensive eVTOL startups.
The merger may be necessary for the company’s continued experditions. According to the German news web presence Welt , Lilium added a likelihood warning to its 2019 balance sheet noting that it will ended of money in December 2022 if the SPAC merger not be finalized.