Lilium Stock Flies As NetJets Intends To Buy 150 Jets

eVTOL jet maker Lilium NV LILM has signed a Memorandum of Understanding for a proposed strategic partnership with private aviation company NetJets Inc. and aviation training company FlightSafety International.
The MoU provides NetJets with the right to purchase up to 150 Lilium aircraft. NetJets also anticipates supporting Lilium with a private sales campaign for individuals to purchase Lilium aircraft.
Additionally, NetJets and Lilium intend to explore a business model to operate Lilium's network in Florida and other regions in the U.S. and Europe. The collaboration is also expected to boost Lilium's commercial ambitions and create supplemental direct sales opportunities.
Lilium also partners with FlightSafety to provide products and services, such as courseware, immersive and mixed reality training devices, and crew training.
Price Action: LILM shares are trading higher by 18.1% at $3.73 on the last check Tuesday.