Piaggio Aero sale to Baykar closed

Piaggio Aerospace sale closed. The closing of the operation that sanctions the definitive transfer of the corporate complexes of Piaggio Aero Industries and Piaggio Aviation (the two companies, until now in extraordinary administration, which operate under the Piaggio Aerospace brand) to the Turkish company Baykar has been finalized at the Ministry of Enterprise and Made in Italy.

The acquisition, authorized by the Presidency of the Council of Ministers under the golden power legislation, represents, said Minister Adolfo Urso, "a strategic step for the relaunch of one of the historic brands of the Italian aeronautical industry, with a major international investor, whose industrial plan opens up even more important market prospects in the unmanned aircraft sector, thus strengthening the competitiveness of the Italian and European aerospace industry. This operation has already had a further, significant impact in the broader partnership between Baykar and Leonardo, which will allow our country to be a leading player in the European market".

In addition to Urso, the CEO of Baykar, Haluk Bayraktar, and the extraordinary commissioners of Piaggio Aero, Carmelo Cosentino, Vincenzo Nicastro and Gianpaolo Davide Rossetti, were present at the signing of the agreement. According to the agreement, Baykar undertakes to maintain current employment levels at the Villanova d'Albenga and Genoa sites, with the prospect of an increase in staff, in line with the expansion of production activities.

"Our goal - said Haluk Bayraktar - is to relaunch the company with an ambitious industrial vision, capable of enhancing its legacy and, at the same time, fully developing its potential for the future. We have great respect for the people who, with skill and determination, have kept Piaggio Aero alive even in the most difficult moments, and we are ready to work alongside them, to create new opportunities, promote innovation and build a solid and sustainable future".

Selçuk Bayraktar, President and CTO of Baykar, recalled that Piaggio Aero is «a symbol of Italian innovation and excellence. Our goal is to revitalize this historic brand by investing in its expertise in the civil aviation sector, increasing the production of the P.180 Avanti Evo and strengthening its role as a center of excellence for aircraft and engine maintenance in Europe. We aim for long-term growth, the enhancement of human resources and the strengthening of the industrial partnership between Turkey and Italy, leveraging the history and engineering talent of Piaggio Aerospace».