Bankruptcy Commissioners Seek More Bids for Piaggio Aerospace | Aviation International News

Receivership Commissioners Seek More Bids for Piaggio

Several attempts have been made to find a new owner for the maker of the Avanti Evo aircraft, since the company entered bankruptcy protection in 2019.

Nose view of Piaggio Avanti Evo on airport taxiway — New bidders are being sought for Piaggio Aerospace, which makes the Avanti Evo aircraft. (Image: AIN)

By Charles Alcock • Managing Editor

May 9, 2023

Officials handling the long-running bankruptcy protection proceedings for Piaggio Aerospace are making another attempt to find a buyer for the Italian aircraft manufacturer. On Wednesday, the “extraordinary receivership governing body” will publish details of the latest bidding process in selected Italian and international newspapers, as well as on its own website.

Prospective bidders for Piaggio’s assets will have until June 12 to submit the required documentation. Once this deadline passes, eligible applicants, which could include approved foreign interests, will be given 30 days to conduct due diligence on the company data before having to make binding offers.

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