In a groundbreaking development, Lilium NV, the pioneer in all-electric vertical take-off and landing (eVTOL) jets, has established an authorized sales dealership in the Middle East, leading to a surge in Lilium NV’s stock today. According to reports from Aviated Source, Lilium NV recently inked a significant agreement with ArcosJet DMCC, a prominent Dubai-based leader in business aircraft brokerage.
At the time of this publication, Lilium NV stock (LILM) has witnessed a surge.
Lilium NV
Current Price: $0.98
Change : +0.25
Change (%): (34.01%)
Volume: 8.9M
Source: Tomorrow Events Market Data
This strategic partnership designates ArcosJet as the exclusive authorized dealer for private sales of the Lilium Jet in the United Arab Emirates (UAE), Israel, and the Republic of Cyprus.
This move into the Middle East market closely follows Lilium’s recent announcement regarding the commencement of private sales for its eVTOL jets in the U.S., through a partnership with EMCJET, a full-service aircraft brokerage and management company.
The agreement between Lilium NV and ArcosJet signifies a monumental step forward, setting the stage for the introduction of the Lilium Jet in the Middle East. Notably, the agreement includes a commitment fee payment to Lilium, effectively conferring ArcosJet with exclusivity over private sales of the innovative eVTOL aircraft.
This collaboration marks a significant milestone for both companies. ArcosJet becomes Lilium’s first reseller in the Middle East and holds the distinction of being its fifth dealer on a global scale. The leaders of both organizations share a common vision for the future of air travel.
Mikhail Alenkin, the Founder and CEO of ArcosJet, expressed his full support for Lilium’s mission, particularly in the burgeoning eVTOL market. He envisions immense potential for jet-powered aircraft in this region and eagerly anticipates the opportunities that lie ahead.
Alenkin stated, “We are sure that combining our experience in selling conventional aircraft with the economic and sociodemographic characteristics of UAE, Israel, and the Republic of Cyprus can result in the region becoming a leader in the sales and operation of the revolutionary Lilium Jet.”
Sebastien Borel, Chief Commercial Officer at Lilium, underscored the tremendous potential for eVTOLs in the Middle East and expressed pride in having a dependable and experienced partner in ArcosJet to handle the sales and operations of the Lilium Jet in the region.
Borel emphasized, “A new era of sustainable aviation is coming, and we are proud to be blazing the trail here alongside our new partners who support our aspirations toward new technologies and markets.” With ArcosJet’s impressive track record of successful deals, extensive expertise in aircraft fleet management, and a wide-reaching network of industry connections, they are poised to play a pivotal role in securing firm orders for the eVTOL jet. This partnership signifies a significant stride forward in advancing the future of air travel.
