07:36 AM EDT, 07/18/2024 (MT Newswires) -- Lilium (LILM) and Saudia Group said Thursday they have signed a binding sales agreement for an order of 50 Lilium jets and an option for 50 more.

The sales agreement would be the largest reported firm order of electric vertical take-off and landing aircraft by an airline operator, the companies said. It follows a memorandum of understanding signed in October 2022.

Saudia Group expects to receive the first jets in 2026, which will be managed by its subsidiary Saudia Private.

Additionally, the agreement includes that Saudia Group will support Lilium's certification process with Saudi Arabia's aviation regulatory agency, according to the companies.

Financial details of the order were not disclosed.

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