LONDON, United Kingdom and MUNICH, Germany, Jan. 29, 2024 (GLOBE NEWSWIRE) -- AJW Group (“AJW”), a world-leading independent aircraft component parts, repair, and supply chain solutions provider, and Lilium N.V (Nasdaq: LILM), developer of the first all-electric vertical take-off and landing (“eVTOL”) jet, have signed an agreement to develop global material services and distribution to support the Lilium Jet’s global aircraft operations and Lilium’s Aftermarket Services Business.

The strategic collaboration between Lilium and AJW will include the management of Lilium’s eVTOL spares inventory, the delivery of unparalleled warehouse and logistics services, repair and asset management, and AJW serving as the exclusive parts distributor for Lilium’s worldwide customers. The partnership solidifies AJW’s commitment to innovation and excellence in the next-gen aviation industry. The partnership supports Lilium’s commitment to best-in-class customer service and Lilium’s goal of delivering competitive operating costs and superior parts availability. Material management will be a core component of Lilium’s Aftermarket Service Business, comprising also training, digital, ground operations, and in-service support functions.

Scott Symington, AJW Group’s Chief Commercial Officer, commented: “Innovation is one of our core values at AJW, deeply embedded in the fabric of our operations. We are driven to pioneer revolutionary products, strategically positioning the Group at the forefront of transforming aviation efficiency. Our partnership with Lilium marks a significant stride towards realizing this vision and steering the industry towards a more sustainable aviation future.”

Sebastien Borel, Lilium’s Chief Commercial Officer, added: “We are delighted to announce this strategic collaboration with AJW Group. This is a very important step as we advance towards our planned entry into service in 2026 and a major milestone in the development of our strategic and comprehensive support offerings for our customers. AJW's proven world-class expertise in material management and exemplary warehouse and logistics services align seamlessly with our commitment to excellence. Together, we look forward to driving innovation, efficiency, and sustainability in the aviation sector, showcasing our collective dedication to delivering cutting-edge solutions and supporting our customers with attractive unit economics.”

Lilium began production of the Lilium Jet in late-2023, following Lilium’s Design Organization Approval by EASA, evidencing that Lilium has the organization, procedures, competencies, resources, and demonstrated rigor required to certify aircraft according to the very highest safety standards. As the Lilium Jet enters into service and the global fleet size grows, Lilium is expecting material profit contribution in recurring revenue from its Aftermarket Service Business.

Lilium contact information for media:
Meredith Bell
Vice President, External Communications
press@lilium.com

Lilium contact information for investors:
Rama Bondada
Vice President, Investor Relations
investors@lilium.com

AJW contact information for media:

Becky Newell
Director of Marketing
Becky@ajw-group.com

AJW Group is the world-leading independent aircraft component parts, repair, and supply chain solutions provider, transforming efficiency in commercial, business, and defense aviation. AJW has a global presence with operational hubs and local offices across Africa, Asia Pacific, China, CIS, Europe, Latin America, Middle East, and North America. A key part of AJW Group is AJW Technique, a 220,000 sq. ft state-of-the-art Component MRO facility based in Montreal.

About Lilium

Lilium (NASDAQ: LILM) is creating a sustainable and accessible mode of high-speed, regional transportation for people and goods. Using the Lilium Jet, an all-electric vertical take-off and landing jet, designed to offer leading capacity, low noise, and high performance with zero operating emissions, Lilium is accelerating the decarbonization of air travel. Working with aerospace, technology, and infrastructure leaders, and with announced sales and indications of interest in Europe, the United States, China, Brazil, UK, United Arab Emirates, and the Kingdom of Saudi Arabia, Lilium’s 950+ strong team includes approximately 500 aerospace engineers and a leadership team responsible for delivering some of the most successful aircraft in aviation history. Founded in 2015, Lilium’s headquarters and manufacturing facilities are in Munich, Germany, with teams based across Europe and the U.S. To learn more, visit www.lilium.com.

Lilium Forward Looking Statements

This press release contains certain forward-looking statements within the meaning of the U.S. federal securities laws, including, but not limited to, statements regarding (i) Lilium N.V.’s and its subsidiaries (collectively, the “Lilium Group”) proposed business and business model, (ii) the markets and industry in which the Lilium Group operates or intend to operates, (iii) the Lilium Group’s collaboration with AJW Group, as described herein, including the Lilium Group’s and AJW Group’s collaboration to explore managing Lilium’s eVTOL spares inventory and distribution, (iv) the anticipated timing of the commercialization and launch of the Lilium Group’s business, including timing of the Lilium Jet’s entry into service, and the expected results of the Lilium Group’s business and business model; and (v) Lilium’s expectations with respect to the scope of its Aftermarket Service Business, its ability to generate revenue from such business, and the significance of any related revenue. These forward-looking statements generally are identified by the words “anticipate,” “believe,” “could,” “expect,” “estimate,” “future,” “intend,” “may,” “on track,” “plan,” “project,” “should,” “strategy,” “will,” “would” and similar expressions. Forward-looking statements are predictions, projections, and other statements about future events that are based on management’s current expectations with respect to future events and are based on assumptions and are subject to risk and uncertainties that are subject to change at any time. Actual events or results may differ materially from those contained in the forward-looking statements. Factors that could cause actual future events to differ materially from the forward-looking statements in this press release include those risks and uncertainties discussed in Lilium’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including in the section titled “Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2022, on file with the SEC, and similarly titled sections in Lilium’s other SEC filings, all of which are available at www.sec.gov. Forward-looking statements speak only as of the date they are made. You are cautioned not to put undue reliance on forward-looking statements, and Lilium assumes no obligation to, and does not intend to, update, or revise these forward-looking statements, whether as a result of new information, future events or otherwise.