This website uses cookies
More information
Marsh Brothers Aviation
Marsh Brothers Aviation
The monthly news publication for aviation professionals.
Related background information from the Handbook...

Piaggio Aerospace

P180 Avanti

BAN's World Gazetteer

The monthly news publication for aviation professionals.

Request your printed copy

Piaggio and Banca Ifis sign financing deal
After a line of credit granted in 2019 for the sale of tax credits, this is the second transaction for Banca Ifis with Piaggio in support of production activities and local communities in which the company operates.
Piaggio is determined to remain fully operational.

After receiving the final green light from Italy's Ministry of Economic Development and the approval of the Supervisory Committee, Piaggio Aerospace and Banca Ifis have signed a contract for financing in the form of an advance on contracts and factoring operations for a total of 30 million euros.

“The agreement, reached at the end of a process that initially involved other public and private financial institutions, will now allow Piaggio Aero Industries and Piaggio Aviation, the two companies in extraordinary administration that operate under the Piaggio Aerospace brand, to be fully operational,” says extraordinary commissioner Vincenzo Nicastro. “Thus the workers still in temporary layoff can gradually be recalled. The sales process can also be now completed.”

For Banca Ifis, after a line of credit granted in 2019 for the sale of tax credits, this is the second transaction with the aviation group in support not only of its production activities, but also of the local communities in which the company operates and, above all, employment. Luciano Colombini, CEO of Banca Ifis adds: “Our institute has been working alongside Italian companies and entrepreneurs for over 30 years, integrating business strategy and sustainability, to create value in the medium and long term.”

Nicastro, appointed by the Italian Government in December 2018, recently launched an international tender for the sale of the business complexes of the two companies: 19 entities from all over the world originally submitted their invitation of interest, 11 of which were subsequently admitted to the data room. The primary goal of the commissioner is to find a new owner by the end of this year.

With the recent award of a new multi-year contract by the Italian Ministry of Defence for the integrated logistical support of the entire P.180 fleet operated by the Italian armed forces, Piaggio Aerospace has now a backlog equal to 640 million euros. More orders, for a further amount of 260 million euros, are in various stages of negotiation. The total order intake should therefore reach 900 million euros.

Other News
Dealer's 2024 outlook gives cause for confidence
February 19, 2024
Jetcraft CEO Chad Anderson says we can look to the future with optimism despite geopolitical and economic challenges. He discusses the return of the corporate buyer, in-demand jets and overcoming challenges.
Archer's Midnight completes phase one of flight testing
February 5, 2024
With recently installed high voltage battery packs in place, Midnight advanced through phase one of its flight test program in only three months. It is now channelling full wing-borne transition flight in phase two.
Archer scores Transportation Design of the Year for Midnight
January 2, 2024
Archer's Midnight aircraft has won the Muse 2023 Transportation Design of the Year. Its design and engineering teams set out to create a powerful aircraft that forges an emotional connection with passengers.