Munich, 19 July 2024, Germany: A legally binding sales agreement was signed today between Saudia Group and Lilium N.V. (NASDAQ: LILM), a leading producer of electric aircraft and a pioneer in Regional Air Mobility (RAM). The deal covers the purchase of 50 Lilium Jets, with the option to acquire an additional 50. The signing ceremony took place at Lilium’s Munich headquarters. In the presence of several notable guests, including H.E. Engr. Ibrahim Al-Omar, Director General of Saudia Group, Michael Kindsgrab, the German Ambassador to the Kingdom of Saudi Arabia, and Lilium Chairman Tom Enders, the contract was signed by Klaus Roewe, CEO of Lilium, and Fahd Al-Jarbou, CEO of Saudia Private, representing Saudia Group.
As the largest reported firm order of eVTOL aircraft by an airline that plans to operate the aircraft, this sales agreement, which comes after the Memorandum of Understanding between Saudia Group and Lilium signed in October 2022, represents an important industry milestone. It is also the largest of its kind in the MENA region. It indicates a significant commitment to electric aviation from a global leader in the industry as well as a definite choice for the Lilium Jet’s anticipated better performance, affordability, and passenger experience.
The contract specifies a timetable for deposits and pre-delivery payments, future delivery dates, performance guarantees for the aircraft, and provisions for maintenance, repairs, and spare parts. A complete “Lilium POWER ON” agreement for aircraft fleet maintenance and support services is also planned to be signed by the parties.
H.E. Engr. Ibrahim Al-Omar, Director General of Saudia Group, commented at the signing event: “Saudia Group is proud to pioneer the MENA region as the first company to acquire all-electric eVTOL jets, which reflects our commitment to continuously reducing our carbon footprint and becoming an industry leader in regional electric aviation. We recognize the critical role that Lilium is positioned to play in enabling us to deliver a sustainablepremium aviation experience and transport our guests even closer to their destination. This agreement amplifies our commitment to the Saudi Vision 2030 and is the result of a collaborative effort over the past years between Lilium and Saudia Group to explore how we can best bring eVTOL to the skies of Saudi Arabia. We are looking forward to the journey ahead.”
“The eVTOL jets are revolutionizing guest transportation,” he continued. They can take on and land vertically, which opens up whole new paths. Imagine saving a significant amount of time over conventional methods by driving up to 175 kilometers at 250 km/h. Additionally, this technique directly addresses traffic congestion. The convenience and speed of electric aircraft would be very beneficial to business travelers and exhibition goers, enabling them to attend and participate in events with ease. These cutting-edge cars will also revolutionize travel, sports, and entertainment by providing a first-rate journey to these fascinating locations.”
