Saudia Group and Lilium signed a binding sales agreement for 50 Lilium Jets, with options for the purchase of 50 more. The ceremony was held at Lilium’s HQ in Gauting near Munich. The contract was signed by Fahd Al-Jarbou, CEO of Saudia Private, representing Saudia Group, and Lilium’s CEO Klaus Roewe. This sales agreement, which follows the memorandum of understanding between Saudia Group and Lilium signed in October 2022, marks the largest of its kind in the MENA region. The agreement includes a schedule of deposit and pre-delivery payments, timeline of future deliveries, guarantees on aircraft performance, and provisions on spare parts, maintenance, and repairs. In addition, the parties intend to sign a comprehensive “Lilium POWER-ON” agreement for aircraft fleet maintenance and support services.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LILM:
- Lilium Targets 2026 for Electric Jet Deliveries
- Lilium Reaffirms 2026 Target for First Customer Deliveries and Provides Additional Detail on Testing Program
- Lilium Faces Nasdaq Minimum Bid Price Challenge
- Lilium wins major order from Saudia, Reuters reports
- Lilium N.V. Shareholders Approve All Agenda Items