Lilium (NASDAQ: LILM), developer of the first all-electric vertical take-off and landing jet, has announced a new Memorandum of Understanding with SAUDIA for the purchase of 100 EVTOL aircrafts.

SAUDIA, the flagship carrier of Saudi Arabia, intends to launch a state-of-the-art transportation service utilizing Lilium Jets. The new service will include electric point-to-point connections as well as seamless feeder connections to SAUDIA’s regional hubs for business class guests.

SAUDIA will also help the company gain regulatory certification of the Lilium Jet. The two company’s plan to combine SAUDIA’s unrivaled market knowledge with Lilium’s unique eVTOL aircrafts to transform the Suudi Arabia’s domestic air transport sector. 

Alexander Asseily, Vice Chairman of Lilium stated: “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.”

Lilium is creating a sustainable and accessible mode of high-speed, regional transportation for people and goods. Using the Lilium Jet, an all-electric vertical take-off and landing jet, offering leading capacity, low noise and high performance with zero operating emissions.

Shares of Lilium trade on the NASDAQ under the ticker symbol LILM.