Lillium signs MoU with Lufthansa exploring eVTOL aircraft operation in Europe

Lilium (NASDAQ:LILM) Thursday rose about 4% in pre-market trading after the company announced signing a Memorandum of Understanding (MoU) with The Lufthansa Group to explore a partnership on electric Vertical Take-Off and Landing (eVTOL) aircraft operation in Europe.

Under the partnership, the companies aim to explore innovation opportunities in aviation, discussing areas such as ground and flight operations, future aircraft maintenance, as well as crewing and flight training.

Additionally, the parties would also look to analyze the opportunities for collaboration with third parties like airports and regional partners, for instance, on the advancement of infrastructure such as vertiports, airspace integration, and the definition of required operation processes.

Recently, Lillium received a design organization approval from the European Union Aviation Safety Agency, which the company said reflects a seal of quality assurance in aviation design that formally acknowledges a company’s ability to design and develop safe and compliant aircraft.

Lillium’s own internal projections peg that the European market is expected to account for a demand of around 9,200 eVTOL aircraft through 2035.