Piaggio Aerospace is reporting an increase in sales of its P180 Avanti EVO and has outlined its growth strategy for the next five years. "We secured four new orders of the EVO in the first few months of 2018, and sales momentum is continuing," explains CEO Renato Vaghi. "Reinforced by new financial stability, we intend to focus on aircraft, leveraging our revamped production and a new commercialisation strategy for the P180 Avanti EVO."
This year Piaggio will celebrate a century since its incorporation. Even though its foundation by Rinaldo Piaggio dates back to 1884, when it outfitted ocean liners and manufactured rolling stock for the railway sector, it formally entered the aviation industry in 1917 with the takeover of Officine Aeronautiche Francesco Oneto in Pisa, and was officially incorporated in January 1918.
It has undergone financial restructuring of late, and has been the recipient of a €255m cash injection from one of its shareholders. The manufacturer's industrial plan forecasts it reaching breakeven in 2019 and profit in 2021.
Twenty aircraft orders are already in the pipeline, of which 12 are Avanti EVOs. As well as the four orders already placed this year, Piaggio expects to deliver at least a further four by the end of 2018. It is striving to position the type globally, relaunching its special mission version, and aims to invest further in customer service to support the fleet worldwide.