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Deadline Extended for Bids for Italian Aerospace Manufacturing Company Piaggio Aerospace

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Deadline Extended for Bids for Italian Aerospace Manufacturing Company Piaggio Aerospace

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Piaggio Aerospace
Piaggio Aerospace designs, develops, manufactures and maintains aircraft, aero-engines, aerospace components and aerostructures.

With a notice published in some financial newspapers, Piaggio Aero Industries and Piaggio Aviation Extraordinary Commissioners Carmelo Cosentino, Vincenzo Nicastro and Gianpaolo Davide Rossetti have announced they extended till 19 June, 6 pm CEST the deadline to submit expressions of interest (EOIs) to purchase the business complexes of the two companies under extraordinary administration. According to the tender, the parties that are interested in purchasing the assets of the companies – which are two legal entities but a unicum as an industry.

The decision was taken because some interested parties asked for more time to submit the necessary documents. The original deadline was set on 12 June 2023. Piaggio Aerospace has today a 556-million-euro order portfolio, with a P.180 Avanti EVO backlog of 17 units. The Company expects to break even at the end of 2023. Piaggio Aerospace currently has a backlog and order intake of approximately 556 million euros. Piaggio Aerospace designs, develops, manufactures, and maintains aircraft, aircraft engines and structural components.

Bidding Opens for Italian Aircraft Maker Piaggio Aerospace
Piaggio Aerospace designs, develops, manufactures and maintains aircraft, aero-engines, aerospace components and aerostructures. (Photo by Piaggio Aerospace)

The objective explained the Extraordinary Commissioners, is identifying the best industrial solution in the shortest possible time, finding a prospective buyer – even at the international level – who can guarantee operational continuity, maintenance of employment, specific know-how and financial stability, as well as recognize the Company’s fair value. The company operates from its aerospace center of excellence in Villanova d’Albenga, Italy, while its Customer Service Department is based in Genoa.

Piaggio Aerospace, formerly Piaggio Aero Industries, is a multinational aerospace manufacturing company headquartered in Villanova d’Albenga, Italy. The company designs, develops, manufactures and maintains aircraft, aero-engines, aerospace components and aerostructures. Established in 1884 as Rinaldo Piaggio S.p.A., it shares its ancestry with motor vehicle manufacturer Piaggio and is one of the world’s oldest aircraft manufacturers, having produced its first aircraft during 1915. During the 1960s, Piaggio began manufacturing jet engines as well. During 1966, the business was separated into the aviation-focused Piaggio Aero and the motor scooter manufacturer Vespa.

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