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News: Current Latest On Piaggio Sale Progress

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  1. Current Progress On Piaggio Aerospace Sale
    It is widely known that Piaggio Aerospace is in the process of trying to find an appropriate buyer for the airframer. Ever since the company went bankrupt in 2019 there has been a drive to find a new owner for the company and its current operations are under the watchful eye of an Extraordinary Commissioner -Vincenzo Nicastro-. The latest news is that the sale of the Piaggio Aerospace company has moved on to the due-diligence stage. Before a number of potential buyers were attracted but none really fit-the-bill to take on the purchase.
  2. "In agreement with the Ministry for Economic Development, we want the process to proceed quickly and without exceptions," said Piaggio Aerospace extraordinary commissioner Vincenzo Nicastro. "This does not mean that we will not carefully evaluate the offers that will arrive, identifying a new owner for the company able not only to recognize its fair value but also to propose a long-term strategy, safeguarding both skills and employment." The airframer has been focusing on alot of maintenance contracts with them reporting 2021 revenues eclipsing the 150 million euros mark. Current backlog is approaching the half billion euro mark and if pending contracts materialize then potentially more than 100 million euros worth could be added to the backlog. The progress with Piaggio Aerospace has been slow -in terms of finding a buyer-. The due diligence phase is ongoing with five potential buyers which was reduced from a list of eleven.

    For more information:

    Piaggio Aero
    Viale Generale Disegna, 1
    17038 Villanova d’Albenga
    (Savona, Italy)
    www.piaggioaerospace.it

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