Lilium Designates Future Orlando Vertiport as Key Network Hub, Supports its Designation as Advanced Mobility Site
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Insights
The announcement by Lilium N.V. of the future Orlando International Airport vertiport serving as a key hub for Regional Air Mobility (RAM) signifies a strategic expansion within the advanced air mobility sector. The integration of electric vertical take-off and landing (eVTOL) technology into a major transportation hub like MCO could potentially streamline the logistics of air travel and enhance passenger access. This development is poised to position Florida as a frontrunner in AAM, potentially boosting the state's economic activity through increased connectivity and tourism.
From a market perspective, Lilium's expansion into Orlando International Airport could attract interest from investors monitoring the AAM industry's growth. The support for the Florida House Bill 981 also indicates a positive regulatory environment that could facilitate further industry expansion. Increased connectivity is likely to stimulate ancillary businesses, such as hospitality and retail, thus having a multiplier effect on the local economy.
Lilium's designation of MCO as a network hub could have significant financial implications for the company and its stakeholders. This move may lead to operational efficiencies and cost reductions for Lilium Jet operators, which in turn could improve profit margins and potentially enhance shareholder value. Moreover, the support for the AAM test site indicates a commitment to long-term investment in infrastructure, which could be a critical factor for investors assessing the company's growth trajectory and risk profile.
It is important to monitor how this strategic decision influences Lilium's financial performance, particularly in terms of capital expenditures and revenue generation. The impact on the stock market will largely depend on the company's ability to execute its vision effectively and the market's response to the evolving AAM industry.
The implementation of eVTOL technology at a major airport like MCO marks a significant milestone in aviation innovation. The eVTOL jets are designed to offer quick, efficient and sustainable transportation options, potentially reducing congestion and environmental impact. Lilium's collaboration with the City of Orlando and Lake Nona to establish the country's first urban and regional air mobility network could serve as a model for other regions.
Understanding the technical and regulatory challenges associated with AAM is crucial. The success of this initiative will depend on factors such as public acceptance, safety protocols and integration with existing air traffic management systems. The industry-wide implication of such a hub could pave the way for an increased rate of adoption of AAM technologies, influencing the broader aviation market.
- Lilium designates future Orlando International Airport (MCO) vertiport as key RAM network hub for Lilium Jet operators
- Proposed advanced air mobility site expected to drive increased passenger access, reduced costs for operators
- Florida expected to experience greater connectivity and economic activity from AAM
ORLANDO, Fla., Feb. 08, 2024 (GLOBE NEWSWIRE) -- Lilium N.V. (NASDAQ:LILM), developer of the first all-electric vertical take-off and landing (“eVTOL”) jet and global pioneer in Regional Air Mobility (RAM), announced today its designation of the future Orlando International Airport (MCO) vertiport as a network hub for Lilium Jet operators in central Florida. Lilium also announced its support for Florida House Bill 981, which proposes the designation of the Greater Orlando Aviation Authority (GOAA) as the Advanced Air Mobility (AAM) test site for the State of Florida.
Lilium has been a driving force for AAM activity in Florida, announcing with the City of Orlando and Lake Nona the country’s first urban and regional air mobility network in 2020. As the partners engaged in the work to bring the first full-scale eVTOL vertiport to fruition, all parties agreed that the best location would be a vertiport on airport property.
“We are thrilled about the proposed advanced aviation center at Orlando International Airport and commend Orlando for its dedication and vision to advancing AAM,” said Sebastien Borel, Chief Commercial Officer at Lilium. “Building a vertiport at the major-hub airport will ultimately enhance regional mobility by increasing passenger access and connectivity while allowing multiple operators to use the facility and share in the cost.”
The airport city of MCO and Lake Nona will be a pivotal hub for AAM operations in Florida. Situated in the center of the state, the network is strategically placed to cater to the nearly 80 million annual visitors that the region attracts. Coupled with a world-class airport and the rapidly expanding community of Lake Nona, the airport city is expected to become a true multimodal hub for all forms of transportation.
Lilium also announced its support today for Florida House Bill 981, which designates MCO as the AAM test site in Florida and enables vertiport permitting in the state ensuring that Florida is prepared for AAM. Lilium has worked directly with HB 981 bill sponsor State Representative Doug Bankson, District 39, and Florida House Transportation & Modals Subcommittee chair State Representative Fiona McFarland, District 73, to ensure Florida is a leader in the nation and adapting policy to meet the needs of Lilium and their commercial partners.
“We appreciate the work of Chair Fiona McFarland and State Representative Doug Bankson’s efforts in this bill to ensure Florida remains a leader in AAM. These strides reinforce our decision to announce central Florida as a key launch region for the Lilium Jet and align with our longstanding commitment to accessible, sustainable transportation,” said Borel. “Solidifying the Greater Orlando region as a test bed for AAM demonstrates the state’s commitment to progressing regional mobility and advancing aviation technology.”
Lilium will continue working with the Greater Orlando Aviation Authority, Lake Nona, and the City of Orlando to support this project. Additionally, Lilium will continue working with state officials and the bill sponsors to support the vertiport legislation that allows for the safe and efficient approvals of vertiports throughout Florida with the appropriate community input.
The central Florida network will form part of Lilium’s vision of bringing regional air mobility to locations across the globe. The Lilium Jet aircraft is being purpose-built for regional trips to enable the connection of entire regions that is expected to create positive economic impact for cities and their residents, as well as increased access to industry, culture, and nature.
Contact information for media:
Meredith Bell
Vice President, External Communications
press@lilium.com
Contact information for investors:
Rama Bondada
Vice President, Investor Relations
investors@lilium.com
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, the UK, the 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.
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 intends to operate, (iii) the Lilium Group’s expectations with respect to the commercial adoption of AAM in the State of Florida and AAM’s economic impact in the State of Florida, and (iv) the Lilium Group’s interactions with AAM infrastructure partners. 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.
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What is Florida House Bill 981 and how is Lilium N.V. (NASDAQ:LILM) involved?
