Saudi Arabia’s General Authority of Civil Aviation and Lilium sign MoU to collaborate on development and implementation of eVTOL regulation in the Kingdom
Rhea-AI Summary
Saudi Arabia's General Authority of Civil Aviation (GACA) and Lilium N.V. (NASDAQ: LILM) have signed a memorandum of understanding (MoU) to develop and implement eVTOL regulations in Saudi Arabia, targeting operations by 2026. The partnership includes:
1. Establishing a joint Working Group to prepare regulations
2. Creating sub-groups for infrastructure, air operations, airworthiness, and airspace integration
3. Collaborating on Saudi Arabia's Advanced Air Mobility (AAM) Roadmap
Lilium, with its extensive regulatory experience, will support GACA in this initiative. The agreement aligns with Saudi Arabia's Vision 2030 and aims to advance innovative and sustainable air mobility solutions in the Kingdom.
Positive
- Partnership with Saudi Arabia's aviation regulator (GACA) to develop eVTOL regulations
- Potential for eVTOL operations in Saudi Arabia by 2026
- Lilium's expertise in aviation regulation recognized by GACA
- Alignment with Saudi Arabia's Vision 2030 for innovative air mobility solutions
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, LILM declined 5.88%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
- GACA, Saudi Arabia’s civil aviation regulator, and Lilium agree on a joint regulatory approach for eVTOL regulation
- This includes the implementation of a joint Working Group covering all relevant regulatory topics and an Innovative Air Mobility (IAM) regulatory action plan for Saudi Arabia
- The goal is to jointly develop and implement the required eVTOL regulation for a potential operational Entry Into Service in 2026
FARNBOROUGH, United Kingdom, July 22, 2024 (GLOBE NEWSWIRE) -- The Saudi Arabian General Authority of Civil Aviation (GACA) and Lilium N.V. (NASDAQ: LILM), a leading electric aircraft manufacturer and pioneer in Regional Air Mobility (RAM), today signed a memorandum of understanding (MoU) at the Farnborough International Airshow to develop and implement the required regulations for eVTOL operations in the Kingdom of Saudi Arabia beginning in 2026.
The partnership will start by setting up a joint Working Group preparing the regulations in Saudi Arabia for the introduction of regional electric air mobility. Dedicated sub-working groups for infrastructure, air operations, airworthiness, and airspace integration, led by GACA and strongly supported by Lilium, are to jointly discuss, accelerate, develop, and implement the necessary regulatory and procedural framework.
Saudi Arabia has recognized the enormous growth potential of eVTOL and intends to take a decisive step towards the introduction of the new modes of transport into existing traffic and airspace structures by 2026 with the published Advanced Air Mobility (AAM) Roadmap. Lilium has already been in close contact with GACA in recent years and has supported the development of the regulatory framework and procedures needed to safely operate eVTOL in Saudia Arabia.
Lilium has a wide knowledge of the regulatory development, processes, and relevant legislation based on the participation in different ICAO Working Groups (such as ICAO AAM SG and ICAO VFIWG), EASA Working Groups (such as RMT.230 including the active and driving participation and contribution to EASA PTS-VPT-DSN and EASA Part-IAM), EUROCAE Working Groups, discussions with the FAA and ANAC, and different similar national approaches in Europe. Given this background, Lilium will support and collaborate with GACA in the joint dedicated Working Group for Saudi Arabia.
The Working Group will be the expert group that identifies, addresses, and defines the action items which will be worked on for the implementation of IAM in Saudi Arabia in terms of regulation, legislation and procedures.
His Excellency Abdulaziz Al-Duailej, President of GACA, said: “This agreement reflects GACA’s commitment to advancing innovative and sustainable air mobility solutions for Saudi Arabia, in support of Vision 2030. By working with global advanced air mobility companies, we aim to establish a robust regulatory framework that ensures the safe and efficient operation of eVTOL aircraft.”
Lilium CEO Klaus Roewe highlights: “We are very thankful that GACA has chosen Lilium to develop and implement the regulatory framework for eVTOL in Saudi Arabia. It acknowledges Lilium’s knowhow in aviation regulation. Our goal is to jointly advance regulatory and practical steps for suitable framework conditions for electric aviation and our customers in Saudi Arabia. Today’s MoU delivers on one of the main ingredients required to successfully launch eVTOL operations - a definitive path to all relevant regulatory cornerstones.”
Contact information for media:
Christine Pierk
Communications Manager
+49 151 53919945
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 1,000+ 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 intends to operate; (iii) the Lilium Group’s progress towards type certification (and type certificate validation) of its Lilium Jet with EASA and GACA; and (iv) the Lilium Group’s collaboration with GACA as described herein. 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, 2023, 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.
FAQ
What is the purpose of the MoU between GACA and Lilium (LILM)?
When was the MoU between GACA and Lilium (LILM) signed?
What specific areas will the joint Working Group focus on for eVTOL regulation in Saudi Arabia?
How does the GACA-Lilium (LILM) partnership align with Saudi Arabia's goals?
