Italian government expresses wish to conserve Piaggio Aerospace

20 May 2019

As a number of non-binding expressions of interest are made for the respective engine and aircraft divisions of Italy’s Piaggio Aerospace, the Italian government has claimed that it will work to prevent break-up of the OEM.

Financial difficulties led to the company entering special administration in November under the remit of extraordinary commissioner Vincenzo Nicastro, who called for non-binding offers in April to be made by mid-May for the potential takeover of the engine and/or aircraft activities of the company. According to Reuters , 39 offers have been made, 26 of which were proposing an acquisition of the whole company.

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