Funding & Investment in Travel
Flying Taxi Startup Lilium Faces Bankruptcy After Raising $1 Billion
Flying taxis could reduce an airport commute from 90 minutes to 7. They could better connect small towns to urban areas. Optimistic investors believe they’re the future of urban travel.
There’s a lot in the way of making that reality. It comes down to capital. And Lilium, despite raising $1.1 billion since 2021, has run out.
The Germany company plans to file for insolvency and apply for government-supervised restructuring, according to a filing with the U.S. Securities and Exchange Commission on Thursday.
That means that Lilium faces significant risk of going bankrupt or shutting down if it can’t raise additional funds.
“Despite its continuous and ongoing fundraising efforts, the company has not been able to raise sufficient additional funds,” Lilium said in the filing, adding that it “will need to seek financing from third parties including any purchaser of their assets.”
The company had sought a €50 million ($54 million) loan from the German government, but lawmakers denied the request this month, according to the filing.
A Tough Venture
Lilium has been developing an electric vertical take-off and landing (eVTOL) aircraft with six passenger seats.
There are several startups worldwide developing similar products.
It’s a resource-intensive venture that has required each of them to raise hundreds of millions of dollars before a commercial passenger ever steps onboard. It requires research and development, design, prototype manufacturing and testing, certification, and full-scale commercial production — all before generating any revenue.
The earliest that any of them projects flying commercial passengers is 2026.
Joby Aviation, which raised $500 million last month, just announced that it’s raising another $202 million through a public offering of common stock.
The UK-base startup Vertical Aerospace nearly ran out of money before its CEO invested $50 million of his own capital earlier this year.
Lilium Financials
Lilium was founded in 2015 by four engineers and PhD students at the Technical University of Munich. The first CEO, Daniel Wiegand, is now chief engineer for the company.
Klaus Roewe, a 30-year Airbus veteran, became CEO of Lilium in 2022.
The company has signed purchasing deals with Saudi Arabia, Azul Airlines, and others.
The company has deals to establish flight networks in the Lombardy region in northern Italy, in Paris and the Middle East at airports owned by Groupe ADP, and at airports across Florida, and several other regions.
Lilium went public in September 2021 via SPAC, raising $584 million at a valuation of $3.3 billion. It’s raised another $525 million since then: $114 million in 2024, $292 million in 2023, and $119 million in 2022. It was one of the highest-funded travel startups in 2023.
The company has buy-in from Honeywell Aerospace, BlackRock, Aciturri, and LGT.
Prior to going public, the company raised nearly $400 million, including its $240 million series C in 2020.
It faced delisting last year because its stock price fell below the $1 minimum requirement for two months.
Lilium stock has plummeted 75% over the last two days.
The company has more than 1,000 employees, according to its website.
Related
Funding & Investment in Travel
Pattaya’s tourism rebound spurs labor shortages, attracting surge of illegal migrant workers
PATTAYA, Thailand – Pattaya’s tourism and hospitality sector is grappling with a severe labor shortage amid a booming recovery, with high earnings drawing increased numbers of illegal migrant workers seeking opportunities in the city’s bustling resorts, hotels, and entertainment venues.
Industry insiders report that while businesses are experiencing strong returns following the reopening of international tourism, many are struggling to fill vacancies due to stricter immigration controls and the COVID-era exodus of foreign workers. This labor gap has led some employers and migrants alike to resort to informal or illegal channels to meet demand.
In a stark illustration of the ongoing issue, on the night of July 17, authorities executed a major crackdown on illegal immigration near the Thai-Cambodian border in Sa Kaeo province, seizing 38 individuals attempting to enter Thailand clandestinely. The operation was led by Colonel Chainarong Kasee, commander of the Aranyaprathet task force.
The arrested group included 25 people caught in a sugarcane field near Kud Hin village, Aranyaprathet district, comprising 20 Cambodian nationals—including one child—and 5 Thai nationals. Investigations revealed that most Cambodian migrants were former workers in Thailand who had returned home but faced unemployment and lack of income. They paid between 2,500 and 4,000 baht each to re-enter Thailand to seek work in Bangkok, eastern provinces, and tourist hotspots like Pattaya.
Meanwhile, the Thai nationals apprehended were mostly workers returning from Cambodia, forced to pay higher fees—between 3,500 and 6,000 baht—to the smuggling networks.
Further arrests included 10 Thai individuals traveling on foot through sugarcane fields to re-enter Thailand after working as administrators for online gambling websites in Poipet, Cambodia. Due to lack of proper travel documents, they resorted to crossing via natural border routes.
In another instance, three Thai nationals attempting to cross illegally into Cambodia for construction jobs were also detained near Nongprue village, Sakaeo.
Authorities have emphasized that all detainees will undergo thorough interrogation to uncover larger smuggling networks and will face legal prosecution accordingly.
The recent bust highlights the ongoing challenges Pattaya and the surrounding eastern provinces face in securing a reliable and legal workforce to support the tourism rebound, as well as the security risks posed by illegal crossings.
Local officials and business leaders continue to call for comprehensive solutions, including streamlined legal work permits and international cooperation, to ensure Pattaya’s hospitality industry can sustainably recover without resorting to illegal labor sources.
Funding & Investment in Travel
‘Life-changing for our industry,’ Indigenous Tourism Association of Canada secures 7-year deal for $35M annually to boost tourism
The Indigenous Tourism Association of Canada (ITAC) is entering a new chapter, and it’s one fuelled by stability, ambition, and a $35 million-a-year investment.
Backed by a seven-year Social Impact Funding, ITAC’s newly-released 2025-2026 Operational Plan outlines the organization’s goals: to strengthen Indigenous tourism businesses and elevate Canada’s standing as a global leader in authentic Indigenous travel experiences.
“This funding truly is life-changing for our industry. You always have to find sustainability and we haven’t been able to bring that sense of stability to Indigenous tourism. This is life-changing because it gives us seven years of stability that we can advance and continue to build,” Keith Henry, president and CEO of ITAC, told Now Toronto on Thursday.
The plan arrives at a critical moment since the Indigenous tourism sector was hit hard by the pandemic.
In 2018, the sector contributed $1.7 billion to Canada’s Gross Domestic Product (GDP) and by 2023, that number had dropped by 24 per cent, according to ITAC.
The association’s goal is to reverse that trajectory and by 2030, the organization hopes to support 2,700 businesses, create 60,000 jobs, and contribute $6 billion annually to Canada’s GDP.
To get there, ITAC is investing in key areas that include $6 million in marketing (both international and domestic), $8 million in business support, $5 million in workforce development for on-the-job training and wage subsidies, and $3 million to support provincial and territorial Indigenous tourism organizations.
The plan also includes $1.8 million to expand the International Indigenous Tourism Conference and $1 million to launch a new Indigenous Tourism Heritage Fund focused on supporting large-scale projects.
But for Henry, it’s not just about numbers. It’s about positioning Canada as a global leader in Indigenous tourism — something he believes the country is ready for.
“Canada, although we have some great Indigenous-owned businesses, we’re not there yet,” he said. “But we feel that prioritizing these areas will certainly help that.”
The demand, he adds, is already there, both from Canadians and tourists.
“We did survey work and… it was like eight out of 10 Canadians genuinely support reconciliation and want to come experience Indigenous culture,” Henry said.
“The demand has risen domestically. It’s rising internationally. And I really feel that Canada can be a global leader as an Indigenous destination which is not known well enough yet, not only within Canada, but to the world. So, I think that this gives us a chance to really show what we can do for the next seven years.”
The new funding model also gives ITAC more flexibility to engage directly with international markets, especially in the U.S., where Henry says demand for Indigenous experiences is rising fast.
“We know at least one in three Americans want to add an Indigenous experience when they visit Canada. We can now invest more heavily in more direct marketing in the U.S.,” he said.
Despite global uncertainties, including U.S. tariffs, Henry remains optimistic.
Read More
“We just gotta rise… just be positive… We know that U.S. citizens love to come to Canada and want to add Indigenous experiences,” he said.
Looking ahead, ITAC also hopes to leverage upcoming global events, such as the 2026 FIFA World Cup, to elevate the visibility of Indigenous tourism on the world stage.
“To really be a player at these international events, you have to be able to invest in marketing… Those are going to be another opportunity for us.”
He encourages Canadians to learn more at destinationindigenous.ca, which showcases Indigenous tourism businesses and experiences from coast-to-coast.
“We’ve been working hard for many, many years to build Indigenous tourism experiences, and now we’re finally going to be able to continue to elevate them.”
Funding & Investment in Travel
7 Great Time Travel TV Shows Worth Watching
Time travel has long been one of the most irresistible concepts in science fiction — the idea that we could undo past mistakes, witness history firsthand, or peek into the future has fueled some of the most imaginative stories in pop culture. But while plenty of shows have used time travel as a flashy plot device, only a handful truly dig into its emotional, philosophical, and narrative potential. That’s what makes this genre so endlessly fascinating. When it’s done right, time travel becomes more than just a way to move characters through history. It becomes a lens to explore identity, memory, morality, and fate itself.
The best time travel shows don’t just ask, “What if we could go back?” – they wonder if we at all should. They look at how a single choice can ripple across generations, how changing one moment might break another, and how even when you outrun time, you can’t always escape the implications. Some are grounded in hard science, while others revel in fantasy and chaos, but the common thread is that they make the stakes deeply personal. Whether you’re into cerebral puzzles, emotional arcs, action-packed missions, or stories so weird they defy classification, this list has something for every kind of time travel fan. From European mind-benders like Dark to the delightfully anarchic world of Dirk Gently, from underrated gems like Seven Days to iconic staples like Doctor Who, these seven shows prove just how expansive — and emotionally resonant — the concept of time travel can be.
1) Dark
Netflix’s Dark is a philosophical deep dive into determinism, fate, and the ways we’re often trapped by the past. Set in the quiet town of Winden, the story begins with the disappearance of a young boy, but quickly unravels into a sprawling tale that spans generations, centuries, and alternate dimensions. The show intricately weaves four families into a cycle of secrets, betrayals, and cosmic loops. What sets Dark apart is its absolute commitment to narrative complexity. This isn’t a show to half-watch while scrolling your phone. It’s meticulously plotted and demands your full attention and rewards it tenfold. The writing is airtight, the atmosphere haunting, and the emotional stakes are as high as the sci-fi concepts are deep. It’s a masterclass in time travel storytelling that somehow makes the most mind-bending paradoxes feel devastatingly personal.
2) Seven Days
Seven Days flew under the radar in its original run from 1998 to 2001, but it deserves a second look for fans of high-stakes, procedural-style sci-fi. The series follows Frank Parker (Jonathan LaPaglia), a former Navy SEAL and CIA operative, chosen for an experimental black ops project that uses alien technology to send him exactly seven days back in time. The catch? He only has one week to avert events that risk national and global security, like assassinations, man-made disasters, terrorist attacks, before they become irreversible.
The show consistently blends military drama with science fiction and cleverly uses the seven-day limitation, which adds built-in tension to every episode. The unpredictable nature of the alien tech also creates specific issues, from time loops and black holes being created in the vessel’s hull to intercepting spirits of the dead. Parker isn’t a superhero — he’s a flawed, often sarcastic everyman, and his missions are rarely clean. Despite some dated elements, Seven Days holds up surprisingly well as a punchy, clever thriller with a premise that’s still ripe for a modern reboot. It’s classic ‘90s genre TV in the best way.
3) 12 Monkeys
Starting out as a reimagining of Terry Gilliam’s 1995 film, which in turn adapted Chris Marker’s 1962 featurette “La Jetée”, 12 Monkeys quickly evolved into one of the smartest and most emotionally fulfilling time travel shows ever made. It follows James Cole, a scavenger from a ravaged future, who’s sent back in time to stop the release of a deadly virus that decimates most of humanity and keeps mutating in ways that would mean the eventual end of the species. But the story grows far beyond that premise, weaving together ancient conspiracies, looping timelines, alternate realities, and a story of love, loss, and loyalty that spans decades.
12 Monkeys fearlessly embraces the chaos of time travel, then somehow brings everything together with clarity and emotional weight. By the time it reaches its final season, every detail matters, every loop is accounted for, and the character arcs hit hard. It explores many heavy themes, from questions of existence, individual and corporate poverty, organised religion, disability in the face of annihilation, and more. It’s a series that starts out solid and ends as a sci-fi epic — emotionally rich, intellectually rewarding, and deeply satisfying.
4) Travelers
Travelers imagines a bleak future where humanity’s only hope is sending consciousnesses back in time, right into the bodies of people moments before their deaths to avoid impacting the timeline. These “travelers” inherit lives they didn’t choose, from spouses to jobs and addictions. Each one is part of a mission to subtly alter events and nudge history toward a better outcome, guided by a mysterious AI known as The Director.
The show balances action and sci-fi with deeply human dilemmas. These operatives might be on world-saving missions, but they also have to navigate the emotional fallout of inhabiting real lives. How do you pretend to be someone’s husband or mother? What happens when your past self’s choices catch up to you? Travelers raises powerful questions about identity, sacrifice, and morality. Smartly written and emotionally grounded, it’s one of those rare sci-fi shows that sticks with you long after the mission ends.
5) Timeless
If you like your time travel with a mix of historical drama, big adventure, and character-driven narrative, Timeless is your jam. The show kicks off when a criminal organization steals a time machine to alter American history, prompting the government to send a mismatched trio — a soldier (Matt Lanter), a programmer (Malcolm Barrett), and a historian (Abigail Spencer) — back in time to stop them.
While the premise sounds simple, the show evolves into a nuanced, high-stakes narrative about legacy, sacrifice, and how the past shapes identity. Each episode drops the team into iconic moments in history — from the Hindenburg disaster to the Watergate scandal — while also subtly exploring how different communities were impacted by those events. With dynamic chemistry between its leads and consistently sharp writing, Timeless stands out for how much heart it brings to every mission. It’s one of those rare sci-fi shows that makes you care as much about the people as the paradoxes.
6) Doctor Who
Of course, no list about must-watch time-travel shows can be considered complete without Doctor Who. Few shows can claim the cultural impact of the British sci-fi staple that has reinvented itself time and again since its debut in 1963. The Doctor is a time-traveling alien with the ability to regenerate into a new form every time they are close to death. Armed with a blue police box called the TARDIS and a sonic screwdriver that can open nearly any door, the Doctor journeys across time and space, befriending incredible characters, having intergalactic (mis)adventures, and fighting ancient and futuristic creatures.
That basic formula has allowed for nearly unlimited creativity, so one episode might be set in ancient Rome, the next on a distant moon, the next in present-day Sheffield. But Doctor Who isn’t just about the wild adventures and timey wimey stuff. It’s about the power of compassion, the pain of change, and the beauty of fleeting moments. Its best stories often come when it uses time travel to examine human emotion. With each new Doctor comes a fresh tone and energy, making the series constantly evolve while still feeling like home to millions of fans.
7) Dirk Gently’s Holistic Detective Agency
Equal parts absurdist comedy, cosmic mystery, and surprisingly emotional journey, Dirk Gently’s Holistic Detective Agency is unlike anything else in the time travel genre. Or television, to be fair. Based loosely on the novels by Douglas Adams, which, in turn, are loosely based on the adventures of Doctor Who, the show follows Dirk (Samuel Barnett), a self-proclaimed “holistic detective” who believes the universe will lead him to where he needs to be to solve cases as long as he embraces the chaos.
Alongside reluctant sidekick Todd (Elijah Wood), Dirk stumbles through a tangled web of timelines, murder plots, cults, and talking animals. Despite its seemingly nonsensical surface, everything eventually ties together in unexpected, satisfying ways. The writing is sharp, the performances are endearing, and the show carries an emotional undercurrent that sneaks up on you. Dirk Gently is wild, weird, and wonderful in ways that drive home Dirk’s unwavering belief that “Everything is connected.”
-
Mergers & Acquisitions1 week ago
Amazon weighs further investment in Anthropic to deepen AI alliance
-
Brand Stories2 weeks ago
Voice AI Startup ElevenLabs Plans to Add Hubs Around the World
-
Mergers & Acquisitions1 week ago
How Elon Musk’s rogue Grok chatbot became a cautionary AI tale
-
Asia Travel Pulse2 weeks ago
Looking For Adventure In Asia? Here Are 7 Epic Destinations You Need To Experience At Least Once – Zee News
-
Mergers & Acquisitions1 week ago
UK crime agency arrests 4 people over cyber attacks on retailers
-
AI in Travel2 weeks ago
‘Will AI take my job?’ A trip to a Beijing fortune-telling bar to see what lies ahead | China
-
Mergers & Acquisitions1 week ago
EU pushes ahead with AI code of practice
-
Mergers & Acquisitions2 weeks ago
ChatGPT — the last of the great romantics
-
Mergers & Acquisitions1 week ago
Humans must remain at the heart of the AI story
-
The Travel Revolution of Our Era1 month ago
CheQin.ai Redefines Hotel Booking with Zero-Commission Model