After inviting Expressions of Interest for a possible buyout, Piaggio Aerospace is ready to participate in the European Business Aviation Convention and Exhibition (EBACE 2019), to be held in Geneva, Switzerland from May 21st-23rd.
In collaboration with AirGO Private Airline, a European charter company operating one of the largest P.180 fleet in Europe, the Italian company will showcase an Avanti EVO at the Geneva International Airport (Booth SD307), where they are going to meet partners and potential customers from around the world.
“Piaggio Aerospace’s participation in EBACE is an indispensable opportunity to promote our flagship product and scope out new business opportunities in order to relaunch the important segment of the business aviation”, states Vincenzo Nicastro, Extraordinary Commissioner of the company. “We are putting all actions in place to allow the company to resume full operation, and this starts with our presence in Geneva”, added Nicastro. “My intention is to make the company attractive once again and identify the ideal buyer interested in taking it over. However, we are only at the beginning of the process”.
On April 30, 2019, Piaggio Aerospace, in Extraordinary Receivership since December 3, 2018, –published a paid announcement with the intent to identify potentially interested candidates to date. This started with an initial survey to best assess the (not yet binding) interest of the market for the acquisition of the company.
Organized by the European Business Aviation Association (EBAA) and the U.S. National Business Aviation Association (NBAA), EBACE is the main European event dedicated exclusively to private and business aviation, with over 13,000 professionals in attendance and more than 50 aircraft on display in an 18,000 m2 space.
Entirely designed and manufactured at the Aerospace Excellence Center in Villanova d’Albenga, the aircraft to be presented at the show will represent the latest generation of the legendary P.180 Avanti. This technologically advanced model is ideal for business and charter travel and is already being operated for special missions of the Armed Forces, Government agencies and private operators in numerous applications.
Source: Press Release