AZUL - Lilium inks $1B commercial deal & strategic alliance with Azul
To be a global leader in regional electric air mobility, Lilium GmbH has signed a $1B commercial deal and strategic alliance with leading Brazilian airline Azul S.A (NYSE:AZUL). Lilium plans to work with Azul to radically transform high-speed regional transportation in a country which sees close to 100M domestic air passengers a year. As part of the commercial arrangement, Lilium would intend to sell 220 aircraft for Azul to operate across the network expected to start in 2025 for an aggregate value of up to $1B. David Neeleman, Chairman of Azul, said: "Since Azul's founding 13 years ago, the Brazilian aviation market has doubled with Azul capturing almost 60% of the growth. We know how to create and grow new markets, and once again we see huge market opportunity by bringing the Lilium Jet to Brazil." The company also announced the appointment of Tesla veteran Gabrielle Toledano and Henri Courpron to the Board of Directors of Lilium N.V.
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Lilium inks $1B commercial deal & strategic alliance with Azul