Aircraft
Baykar Completes Piaggio Aerospace Acquisition
Turkish aerospace company acquires Italian aerospace entities following regulatory approval

Piaggio Aero Industries and Piaggio Aviation have been acquired by Turkish aerospace firm Baykar, with newly granted Italian regulatory approval set to conclude a protracted six-year insolvency restructuring process at Piaggio.

The transfer of Piaggio Aerospace’s business interests to the world’s largest unarmed combat aerial vehicle company represents “a strategic milestone in the relaunch of one of Italy’s historical aerospace brands with a major international investor,” said Italian Minister Adolfo Urso. Finalization of the deal follows approval last month under Italy’s so-called “golden power,” a regulation protecting and regulating transactions that could compromise national strategic assets.