Turkish drone maker Baykar acquires Piaggio
Italian aircraft manufacturer Piaggio Aerospace has found an investor willing to rescue it from financial difficulties, Baykar.
The Turkish military drone maker has made the winning bid to take over Piaggio, which has been under administration since 2018.
The Italian government received three proposals to acquire the manufacturer, currently known for its twin-engine Avanti executive turboprop with a canard configuration, and considered Baykar’s offer to be the best.
Details such as the amount were not disclosed.
Baykar has committed to maintaining and improving its aircraft production activities – including related technical, logistical and training support services – as well as its maintenance and engine component production activities.
“After six years of waiting, we have restored a future for Piaggio Aerospace, a strategic asset for our country, with a long-term production perspective, safeguarding company complexes and workforce,” said Italy’s Industry Minister Adolfo Urso.