Piaggio celebrates centenary, looking to the future
Piaggio Aerospace, celebrating its centenary this year, has outlined its growth strategy in a five-year plan and announced an expanding order book for its Avanti EVO twin turboprop. Speaking at EBACE Geneva in May, Chief Executive Officer Renato Vaghi said: “We secured four new orders of the Avanti EVO in the first few months of 2018, and the sales momentum is continuing. Reinforced by a new financial stability, we intend to focus on aircraft, leveraging our revamped production and a new commercialisation strategy for the Avanti EVO. We are also celebrating our century-long history of excellence in the aviation business. We are proud of our heritage and we look forward to the next 100 years. [Our new] industrial plan lays the foundations of long-term stability and is strengthened by comprehensive financial restructuring, including a €255m shareholder cash injection. Piaggio Aerospace focuses on aircraft as the core of its business… and the industrial plan projects reaching break-even in 2019 and profit in 2021.”
Piaggio plans to increase production rates and holds new orders for twenty aircraft, of which it expects to have delivered eight by the end of this year. It also intends to relaunch the special missions version of the Avanti and further invest in worldwide customer service and support, Vaghi says.
Orders for the Avanti EVO and a five-year plan...
...were announced by CEO Renato Vahi