Shares of electric vertical take-off and landing jet company Lilium N.V. LILM are trading higher Monday after the company announced it received European Union Aviation Safety Agency (EASA) Design Organization Approval. What Happened: Lilium received approval from EASA, positioning it as a company authorized to hold a type-certificate for an eVTOL aircraft in Europe. The approval formally acknowledges Lilium's ability to design and develop safe and compliant aircraft. "In many respects, today's announcement marks a cornerstone for Lilium and evidences our market leadership in advancing the aviation industry. Achieving Design Organization Approval reflects EASA's confidence in Lilium and differentiates us against others currently pursuing eVTOL development and regulatory approval," said Klaus Roewe, CEO of Lilium.