Ever since 2006 with the dawn of the Piaggio Aero (Booth 261) Avanti II with its uprated engines and Rockwell Collins Pro Line 21 avionics, the company has been promising to correct the fast twin pusher turboprop’s shortcomings including high exterior noise levels, erratic environmental control system and locking brakes that have vexed pilots and owners alike since the plane was first introduced in 1990. At NBAA 2011, Piaggio’s then general manager, Eligio Trombetta, promised these improvements by 2012; but it wasn’t until earlier this year that Piaggio finally delivered the improvements in the form of the Avanti EVO.
However, by then, Piaggio’s largest customer, U.S.-based fractional ownership program Avantair, had collapsed into bankruptcy, in part due to undocumented and unapproved maintenance practices that Avantair said was brought on, in part, by the company’s difficulty in obtaining parts and support for its 56 aircraft from Piaggio. Meanwhile, production of new Avantis dropped from 24 in 2009 to just five in 2012 and two last year.
In the wake of the Avantair bankruptcy, prices of used late-model Avantis have declined, although most used aircraft prices have collapsed following the Great Recession. A 2009 Avanti with only 2,000 hours total time now sells for about 52 percent of its original $7.2 million price, with prices declining by 14 percent last year, according to the aircraft pricing service Vref. The firm currently assigns the Avanti II a CCC demand rating, one of its lowest, reflecting a listing time of eight to 10 months and sale at a discounted price. An estimated 25 percent of the Avantis based in the U.S. are currently for sale.
As sales of the Avanti hit bottom, Mubadala Aerospace, an entity owned by the government of Abu Dhabi, took full control of Piaggio Aero earlier this year. Mubadala has been a shareholder in Piaggio Aero since 2006. The move followed a broad-based restructuring of Piaggio Aero last year. As part of the restructuring, India’s Tata Industries relinquished its partnership stake in Piaggio, giving Mubadala control of 98.05 percent of the company’s stock. Piero Ferrari, who had been a major shareholder and had served as chairman of Piaggio, retains 1.9-percent ownership.
Carlo Logli, the former CEO of SuperJet International who was brought in to reorganize Piaggio, became the company’s new CEO. Logli’s plan calls for the company to diversify into more component manufacture, engine assembly and support and other activities–a business mix in line with Mubadala Aerospace’s current activities and diversified holdings.
Logli’s first move will be to close Piaggio’s antiquated manufacturing plants in Genoa and Finale Ligure and consolidate operations at a new $180 million facility at the Villanova d’Albenga Airport, 50 miles southwest of Genoa. Logli said he planned to implement modern industrialization techniques at the new plant including cellular manufacturing. He also hopes to land more defense business for Piaggio, leveraging the EVO into two military variants, the unmanned P1HH “Hammerhead” extended-range surveillance aircraft and the MPA, or maritime patrol aircraft. Logli said deliveries of each are scheduled for 2015 and 2016, respectively. After those programs are under way, Logli said “maybe” Piaggio would “think” about a “new development,” a not-so-veiled reference to the long-rumored P1XX jet.
However, the first order of business is to book new orders for the EVO. The aircraft attracted a launch order at EBACE from Hong Kong-based Bravia Capital for 10 aircraft and 40 options.
The EVO is fitted with Piaggio-designed winglets, redesigned engine nacelles, a reshaped front wing (canards) and lightweight Hartzell five-bladed scimitar propellers. With a maximum speed of 402 ktas, the AvantiEVOis the fastest business turboprop available, and its speed performance is in the same category as many light jets. Improved performance allows theEVOto climb 3 percent faster to its ceiling of 41,000 feet, and range in standard configuration is increased by 17 percent to 1,470 nm. Piaggio has also introduced an optional increased range configuration that pushes theEVO’s reach out to 1,720 nm. The EVOcuts emissions by 3 percent compared to the older models.
In the cockpit, the AvantiEVOoffers several enhancements, including tablet-supported electronic flight bag and the latest version of the Rockwell Collins Pro Line 21 avionicssuite. A new landing gear system with anti-skid carbon brakes and digital steering is another refinement.
In the cabin, the AvantiEVOhas had a complete makeover, with new seats from IacobucciHFand a finish provided by luxury outfitters Poltrona Frau. A new cabin air-conditioning system and new lighting further enhance passenger experience. Cabin noise will be lowered by 20 percent, provided by the adoption of the new scimitar propellers. At the same time, external noise is reduced by 68 percent, further enhancing theEVO’s environmentalcredentials.
Complementing the launch of the AvantiEVOis a new integrated life-cycle program known as Parts Total Care. This is a tailorable offer that allows AvantiEVOcustomers to cover their spare parts requirements and costs with greater predictability through a competitive rate of $235 per flight-hour. Parts Total Care is one of a number of service network improvements beingintroduced.
Piaggio flew a company prototype with theEVO’s redesigned engine nacelles and propellers in spring 2013, and in the fall began testing the winglets as well. Much of the certification requirements have been achieved with this aircraft, with just a few elements such as the environmental control system remaining for testing on the first productionmachine.
Piaggio expectsFAAapproval of the $7.4 million EVO to follow closely behind that fromEASA.
