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EBACE: Mubadala's Piaggio sets out its stall for growth

Posted 28 May 2018 · Add Comment

Piaggio Aerospace, - the Italian aircraft manufacturer which is a subsidiary of Abu Dhabi’s Mubadala - outlined its growth strategy during the EBACE event in Geneva today.


The company was exhibiting its upgraded turboprop corporate aircraft – the Avanti EVO – at the show.
“We secured four new orders of the Avanti EVO in the first few months of 2018, and the sales momentum is continuing”, said Renato Vaghi, Piaggio’s CEO (pictured right). “Reinforced by a new financial stability, we intend to focus on aircraft, leveraging our revamped production and a new commercialisation strategy for the P.180 Avanti EVO.”
The company which is celebrating its centenary this year has been through a major restructuring and has targeted reaching break-even in 2019 and moving into profit by 2021.
The new strategic route is already leading to an increase in the production rate and new orders with 20 aircraft in the pipeline, of which 12 are Avanti EVOs. In the first quarter of 2018, Piaggio Aerospace secured additional orders for four units of the third generation of the legendary P.180, and expects to deliver in total eight aircraft by the end of 2018. The ambition of the company is to better position the Avanti EVO globally, to relaunch its special mission version, and to further invest in customer service, to support the fleet worldwide.
 

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