Lilium N.V (NASDAQ:LILM) shares are trading higher Monday after the company announced it received an order from UrbanLink for 20 of its jets.

What Happened: All-electric vertical take-off and landing jet company Lilium announced a new partnership with UrbanLink to operate Lilium Jets in South Florida.

Under the agreement, UrbanLink will purchase 20 Lilium Jets, with scheduled pre-delivery payments, and become the first airline in the U.S. fully committed to integrating eVTOL aircraft into its fleet.

"We are proud that UrbanLink has selected the Lilium Jet for its network and operations. This is a huge milestone, not only for Lilium, but for the commercialization of eVTOLs in the U.S.," said Sebastien Borel, chief commercial officer of Lilium.

"We believe that this purchase of eVTOL aircraft is the first by a commercial operator that isn't invested in the manufacturer that it is purchasing from. This is a sign that the market for eVTOL aircraft has matured and there is growing demand for aircraft that can provide connections between, rather than just within, cities."

Newly launched UrbanLink is led by Ed Wegel, a seasoned airline executive with experience in financing, operations and distribution. Wegel noted that UrbanLink chose Lilium because of its superior cabin design, range, capacity and cost-effectiveness.

"While many airlines have discussed the potential of operating eVTOL aircraft, none have made a definitive commitment. UrbanLink will be the first airline in the U.S. to integrate eVTOL aircraft into its fleet. We are dedicated to revolutionizing the way people move to and from as well as within urban cores," Wegel said.

How To Buy LILM

By now you're likely curious about how to participate in the market for Lilium – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy 'fractional shares,' which allows you to own portions of stock without buying an entire share. In the case of Lilium, which is trading at $1.23 as of publishing time, $100 would buy you 81.3 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to 'go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

LILM Price Action: Lilium shares were up 18.3% at $1.23 at the time of publication, according to Benzinga Pro.

Photo: 3844328 from Pixabay.