Piaggio Aerospace (Genoa), the Italian manufacturer that was declared insolvent last November, has received a boost from the Italian government in the form of around EUR700 million euros (USD790 million) worth of contracts, the company has revealed in a statement on its website.
The Italian Defense Ministry contracts include the acquisition of nine new Piaggio Avanti P.180 EVO turboprops, the upgrade of nineteen Avantis already in service, engine maintenance, and logistical support.
Besides the P.180, the company also manufactures the P.1HH HammerHead military drone, and the ministry confirmed plans to certify and acquire at least one P.1HH system, which includes two Unmanned Aerial Vehicles (UAVs) and one ground station.
The contracts were confirmed at a meeting on June 20 between the Italian government, Piaggio Aerospace’s extraordinary receiver Vincenzo Nicastro, the manufacturer's union, and Liguria regional authorities. The meeting followed the announcement of an initial rescue plan in April to enable Piaggio to restart production, a move that has prompted more than thirty expressions of interest to purchase the company, according to Aviation International News.
“The definition of the operational needs of the Italian Armed Forces and the availability of the relevant budgets [...] allows the company to restart,” Nicastro said, adding that the contracts “support the company's commitment to regaining market share in all the sectors in which it operates.” The goal, he outlined, “is to be in a good position after the summer, when the official tender for the sale of Piaggio Aerospace will hopefully start.”
