This website uses cookies
More information
Business Air News Bulletin
Business Air News Bulletin
The monthly news publication for aviation professionals.

Why visit ACE ’24?

Related background information from the Handbook...

Piaggio Aerospace
Aircraft

P180 Avanti

BAN's World Gazetteer

Italy
The monthly news publication for aviation professionals.

Request your printed copy

Piaggio reschedules deadline to submit final and binding offers
It's been a long and protracted journey, and the sale of the two Piaggio Aerospace businesses rumbles on. The commissioners have now extended the deadline again for final and binding offers.

With a notice published on some financial newspapers, Piaggio Aero Industries' and Piaggio Aviation’s extraordinary commissioners Carmelo Cosentino, Vincenzo Nicastro and Gianpaolo Davide Rossetti have announced the rescheduling of the deadline to submit final and binding offers for the purchase of all the business complexes conducted by the two companies, both of which are in extraordinary receivership proceedings.

According to the notice, having received the authorisation by the supervisory committee and the Ministry of Enterprises and Made in Italy, the commissioners decided to 'reschedule the deadline for all the entities (incorporated as limited companies) […] interested in submitting, or integrating, their final and binding offers'. Such offers, the notice states, 'must be submitted […] not later than 6.00 pm CET of 30 January 2024'.

Piaggio went into Extraordinary Receivership in December 2018 and its sale commenced the following April. A relaunch plan was lodged with the Ministry of Economic Development in August 2019. The company was still looking for a buyer in January 2022 and, having closed one of its best financial years, it was hoped the purchaser would implement a recovery plan for the whole business. No purchaser was confirmed so the bidding process was reopened. The deadline has subsequently been extended, a number of times. In August this year, thirteen new companies were granted access to the Piaggio data room as part of the due diligence phase, prior to submitting their binding offers.

Other News
 
Tecnam unveils the P2006T NG
April 19, 2024
There is an additional front door for the co-pilot and external access to the baggage compartment. Windows have been made larger and power is now provided by twin fuel injected Rotax 912 1Sc3 engines.
Tecnam P2012 STOL achieves EASA certification
March 28, 2024
The 18 months certification campaign ensured impressive take off and landing performance while maintaining a 99 per cent commonality of parts with the standard P2012 Traveller so as to enhance supportability.
Sikorsky looks to future family of VTOL systems
February 28, 2024
The OEM is building a hybrid-electric demonstrator that will test electrification and autonomy for next-gen products.