This website uses cookies
More information
The monthly news publication for aviation professionals.
See more information from the Business Air News Handbook...

Piaggio Aerospace
Aircraft

P180 Avanti

BAN's World Gazetteer

Italy
The monthly news publication for aviation professionals.

Request your printed copy

Buyers line up to take over Piaggio interests
Piaggio Aerospace commissioner Vincenzo Nicastro will be assessing proposals from four entities seeking to acquire Piaggio Aero Industries and Piaggio Aviation, with help from Italy's Ministry for Economic Development.
Negotiations to decide the future of Piaggio could last a month.

Four entities have replied positively to the invitation to file non-binding offers for the acquisition of the business complexes of Piaggio Aero Industries and Piaggio Aviation, the two companies in extraordinary administration operating under the Piaggio Aerospace brand.

The proposals arrived on the table of the Piaggio Aerospace commissioner Vincenzo Nicastro by the deadline of 18:00 last Friday: in the upcoming weeks, they will be assessed by the commissioner in cooperation with a team of experts. This analysis will be sent to the Italian Ministry for Economic Development in order to be able to start, having received the relevant authorisations, negotiations with whoever presented the best project. Negotiations are expected to last a maximum of one month with the aim of eventually arriving at an irrevocable and binding offer.

“We have received a wide range of proposals,” comments commissioner Nicastro. “Now the most delicate stage begins, which I hope will lead to the identification of the best solution in the interests of Piaggio Aerospace, its employees as well as the company's creditors.”

The solicitations to submit offers had been delivered to the five subjects that had explicitly confirmed their interest in purchasing the company and reaffirmed their willingness to take over the business in its entirety.

Other News
 
NBAA awards Sustainable Flight Department accreditations
January 19, 2023
The programme recognises business aviation entities meeting environmental sustainability standards. Among them Gulfstream, the first OEM to be recognised for flight, ground support, operations and infrastructure.
Meeting certification requirements is cornerstone of success for Jaunt
December 22, 2022
The AIRO Group EVP looks at Jaunt progress through 2022 and expectations for 2023, and looks at the steps that position the Journey aircraft for certification by 2027.
VoltAero taps TESI in Series B funding
November 2, 2022
A new funding round, which includes a $32 million capital raise, will cover certification and production launch of the first member in VoltAero's electric-hybrid aircraft family, the Cassio 330.