• Piaggio's Avanti EVO boasts a top speed of 402 knots. (Piaggio Aero)
    Piaggio's Avanti EVO boasts a top speed of 402 knots. (Piaggio Aero)

Administrators for Italian manufacturer Piaggio Aerospace have placed the company on the market, calling for expressions of interest by 15 May.

Piaggio, builder of the Avanti EVO twin turbo-prop, has been in administration since December last year.

Extraordinary Commissioner Vincenzo Nicastro wants evaluate interest in either buying the company or one of its business units or to conduct a reorganisation.

“The goal of this action,” Nicastro said, “is to better understand who the interested candidates are as a way to evaluate their characteristics in order to maintain business continuity for Piaggio Aerospace, thus moving forward with subsequent initiatives according to the law”.

During on 24 April, the Italian Ministry of Economic Development and the Ministry of Defence agreed on a plan to support Piaggio Aerospace.

The plan foresees new contracts for the engine maintenance with a ten-year plan, a contract for retro-fitting 19 P.180 Avantis operated by various Italian organisations and the purchase of ten new aircraft.

The government has also said it will support the P.1HH HammerHead (UAS) certification process through to completion, and will buy two Hammerhead systems and develop further technology to support Piaggio Aerospace in competing internationally.

Piaggio was founded in 1884 in Genoa, Italy, as an automotive company. It built its first aeroplane in 1922. The company employs 1200 people.

Going by shipment figures released by the General Aviation Manufacturers Association (GAMA), Piaggio has sold only 13 aircraft since the beginning of 2014.

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