Charles Alcock is managing editor of the AIN Media Group, having rejoined the company in 2019. He has been an aviation journalist since 1986, and previously worked for AIN from 1990 to 2017, most recently as editor-in-chief. His main focus is on covering new aviation technology and business models, as well as international news.
Having been raised in the London area, Alcock studied at the University of Manchester in the UK and earned an honors degree in Politics and Modern History. He speaks English and French, and some German.

Managing Editor

Charles Alcock

Read the latest news about German eVTOL developer Lilium.

A group of investors from Europe and North America has agreed to acquire the operating assets of eVTOL aircraft developer Lilium. The German company announced an agreement with Mobile Lift Corporation on December 24, while also&nbsp;confirming reports that on December 20 it had laid off all its employees.
The identities of investors has not been disclosed, but Mobile Lift has been incorporated in Germany as a private company. It is acquiring Lilium’s two German subsidiaries through a transaction expected to close in early January.
The asset purchase agreement is a breakthrough in efforts that started in late October to find new owners for Lilium launched after the German parliament blocked a <a href="https://www.ainonline.com/aviation-news/futureflight/2024-10-25/lilium-set-file-insolvency-protection-salvage-evtol-aircraft">€50 million loan guarantee</a> that would have unlocked another loan for the same amount from the state of Bavaria. Through “self-administration” insolvency proceedings, a German court appointed KPMG to try to put together a buy-out deal. On November 6, <a href="https://www.ainonline.com/aviation-news/futureflight/2024-11-01/lilium-scrambles-funds-nasdaq-delisting-looms">trading in Lilium’s shares</a> on New York’s Nasdaq market were suspended.
KPMG’s efforts to find new owners for Lilium’s efforts to bring its six-passenger Lilium Jet to market in 2026 reportedly included discussions with potential backers in Saudi Arabia. The Mobile Lift group has yet to declare its intentions for the company, with the deal being subject to completion of self-administration process requirements, including the agreement of Lilium’s creditors.
The statement issued early on Christmas Eve said that the agreement “positions the [Lilium] subsidiaries to restart business operations, but did not indicate whether any of the 1,200 employees will be offered new positions. The company said the lay offs had been required to meet the terms of the self-administration laws. None of the funds from the transaction will go to Lilium N.V. holding group incorporated in the Netherlands.
“We are very pleased to announce the signing of an investment agreement with a very experienced consortium of investors, which is a major breakthrough,” Lilium CEO Klaus Roewe commented. “Deal closing at the beginning of January will allow us to restart our business.”
On December 23, rival eVTOL aircraft developer <a href="https://www.ainonline.com/aviation-news/futureflight/2024-12-23/vertical-aerospace-shareholders-back-50-million-evtol">Vertical Aerospace</a> announced its shareholders had agreed to support a $50 million capital injection by Mudrick Capital. The agreement, which also involves $130 million of debt being converted to equity, is expected to sustain the company through most of 2025.

Issues regarding financing of aircraft; aviation insurance; tax issues for aircraft operators; new companies and people in the aviation financing and insurance industries.

American and European Investors Set to Buy Assets of eVTOL Developer Lilium

Mobile Lift Corporation could restart work on Lilium Jet in 2025

Days after all Lilium employees were laid off, investors behind the Mobile Lift Corporation agreed to buy the eVTOL aircraft manufacturer's assets in January.

Lilium Announces Buy-out Deal With American and European Investors

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News and developments about airplanes, helicopters and unmanned air vehicles used in all varieties of operations, including airlines, military, business, commercial, general aviation and private.

Meanwhile, prospects for keeping rival eVTOL developer Lilium in business appear to be fading

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News and issues relating to business, corporate and private aviation, primarily regarding turbine-engine-powered airplanes and helicopters. Subjects include aircraft, engines, maintenance, operations, personnel, acquisitions, accidents, safety, security, and training.

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News and issues concerning the aviation charter and fractional-ownership industries and markets, including company announcements, regulations, new developments and labor issues.

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News about bills, laws, regulations and other governmental decisions affecting aviation and aerospace. Topics include FAA re-authorizations, taxes on fuel and aviation activities, environmental legislation, ICAO decisions, governmental mediation of labor conflicts and World Trade Organization disputes and decisions.

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Lilium

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