Lilium N.V. (NASDAQ: LILM), developer of the first all-electric vertical take-off and landing jet, has signed an agreement that appoints ArcosJet DMCC (“ArcosJet”), a Dubai-based leader in business aircraft brokerage, the exclusive authorized dealer for private sales for the Lilium Jet in the United Arab Emirates (UAE), Israel, and Republic of Cyprus. The agreement includes a commitment fee payment to Lilium and grants ArcosJet exclusivity on private sales. With this agreement, ArcosJet becomes Lilium’s first reseller in the Middle East and its fifth global dealer.

ArcosJet and Lilium intend to jointly announce further details of their partnership at this year’s Dubai Airshow, which is taking place from November 13 to November 17. The companies also plan to jointly showcase the Lilium Jet at the event.

“At ArcosJet, we appreciate Lilium’s mission as we see tremendous potential in the emerging eVTOL market—especially for jet-powered aircraft, and we are grateful that Lilium is partnering with us. We are sure that combining our experience in selling conventional aircraft with the economic and sociodemographic characteristics of UAE, Israel, and the Republic of Cyprus can result in the region becoming a leader in the sales and operation of the revolutionary Lilium Jet,” commented Mikhail Alenkin, ArcosJet Founder and CEO.

Sebastien Borel, Chief Commercial Officer at Lilium says, “The Middle East offers tremendous opportunity for eVTOL and we are proud to add a reliable and experienced partner to sell and operate the Lilium Jet in region. ArcosJet has an impressive portfolio of successful deals, profound knowledge within aircraft fleet management and a huge network of industry connections to help drive firm orders of our eVTOL jet. A new era of sustainable aviation is coming and we are proud to be blazing the trail here alongside our new partners who support our aspiration towards new technologies and markets.”

The Lilium Jet is an all-electric vertical take-off and landing jet. It is designed to offer leading capacity, a low noise profile, high performance, zero operating emissions, and is purpose-built for regional connectivity. The Lilium Pioneer Edition is the first planned model of the Lilium Jet and will comfortably seat four passengers, with an estimated non-stop flight range of 175 km and speed of 250 kph. The first manned flight for the type-conforming aircraft is scheduled for late 2024, with type certification expected in late 2025 and deliveries expected to begin in 2026.