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Lilium | 6-K: Report of foreign private issuer [Rules 13a-16 and 15d-16]

SEC announcement · Feb 21 06:35

LILM +2.97%

Summary by Moomoo AI

On February 21, 2024, Lilium N.V., known for developing the all-electric vertical take-off and landing jet, Lilium Jet, announced the establishment of its customer service organization, Lilium POWER-ON, at the Singapore Air Show. This new business unit, led by aviation aftermarket veteran Dominique Decard, aims to provide comprehensive services to operators of the Lilium Jet, including training, maintenance, material management, flight operations support, and digital solutions. Lilium anticipates that once the Lilium Jet is in service and the fleet size increases, the customer service organization will contribute significantly to the company's revenue and margins. The services market for the Lilium Jet is estimated to reach at least $5 billion by 2035. The announcement also highlighted Lilium's strategic partnerships for flight training and material services, as well as digital aircraft health management solutions. The company has already begun production of the Lilium Jet following the Design Organization Approval by EASA, indicating readiness to certify aircraft according to high safety standards. Dominique Decard, with 20 years of experience in the aviation industry, will oversee the customer service organization, reporting to Lilium's Chief Commercial Officer, Sebastien Borel.

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