Lilium and SAUDIA announce plan to bring Electric Air Mobility to Saudi Arabia

SAUDIA, the national flag carrier of Saudi Arabia, and Lilium N.V. (NASDAQ: LILM) ‎‎(“Lilium”), developer of the first all-electric vertical take-off and landing (“eVTOL”) jet, at ‎the sixth edition of the Future Investment Initiative (FII), announced a Memorandum of ‎Understanding (MoU) for the proposed development and operation by SAUDIA of an ‎eVTOL network across Saudi Arabia. The proposed arrangement will make SAUDIA the ‎first airline in the MENA region to purchase 100 Lilium Jets alongside yearly support ‎services.‎

With zero operating emissions, the Lilium Jet will enable sustainable and time-saving ‎travel. With a planned purchase of 100 Lilium Jets, SAUDIA intends to launch a state-of- ‎the-art service with new electric point-to-point connections as well as seamless feeder ‎connections to SAUDIA’s hubs for business class guests. Lilium Jet’s flexible cabin ‎architecture is expected to enable a range of spacious interior configurations that are ‎well suited to the needs of the premium market, which Lilium believes can help drive the ‎early adoption of eVTOL aircraft required to scale. SAUDIA also expects to support Lilium ‎with the necessary regulatory approval processes in Saudi Arabia for certification of the ‎Lilium Jet and any other required regulatory approvals.‎

As the national flag carrier of Saudi Arabia, SAUDIA currently serves a network of more ‎than 100 domestic and international destinations with its world-renowned service and ‎hospitality. Lilium and SAUDIA plan to combine SAUDIA’s unrivalled market knowledge ‎and Lilium’s unique eVTOL aircraft to transform the Kingdom’s domestic air transport ‎sector.‎

Captain Ibrahim S. Koshy, Chief Executive Officer of SAUDIA said: “SAUDIA, building on its ‎commitment to be an industry leading airline committed to sustainability, consider our ‎eVTOL network project with Lilium to be an undertaking of great significance for the ‎Kingdom’s aviation industry and will contribute effectively to spurring sustainable ‎tourism in Saudi using zero-emission aviation. SAUDIA intends to meet a growing.

demand for regional air mobility and offer our valued Guests a superior on-board ‎experience. The potential for such an airborne transit network is limitless”.‎

Alexander Asseily, Vice Chairman of Lilium said: “We are thrilled to work with innovative ‎partners for whom sustainability is a priority. This partnership with SAUDIA, our first in ‎the Middle East, is an exciting development for Lilium. We look forward to working with ‎SAUDIA to deploy an eVTOL network across Saudi Arabia.”‎

The proposed arrangement between SAUDIA and Lilium is subject to the parties ‎completing a feasibility assessment, agreeing to commercial terms, and entering into ‎definitive agreements with respect thereto and satisfaction of certain conditions.‎