Aircraft
Italy Gives Green Light For Piaggio Sale
Italian government officials hope to complete a sale of the aircraft manufacturer's assets by next fall.
Italian airframer Piaggio Aerospace, which produces the twin-pusher turboprop Avanti Evo and has faced turbulence over the past several years, has received permission from the Italian government to seek a new buyer. (Photo: Piaggio Aerospace)
Italian airframer Piaggio Aerospace, which produces the twin-pusher turboprop Avanti Evo and has faced turbulence over the past several years, has received permission from the Italian government to seek a new buyer. (Photo: Piaggio Aerospace)

Piaggio Aerospace last week received the go-ahead from the Italian government to seek a buyer, following a nearly year-long restructuring process that officials claim has resulted in orders and commitments totaling $919 million for the beleaguered aircraft manufacturer. “We can now launch an international call for tenders and accelerate the process for the sale of the company assets,” said Vincenzo Nicastro, Piaggio Aerospace’s government-appointed extraordinary commissioner. “Our goal is to identify a new owner who is interested in taking over Piaggio Aerospace in its entirety, and to complete the process by the autumn of next year.” 


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