Pi­ag­gio cel­e­brates cen­te­nary, look­ing to the fu­ture

Pilot - - NOTES -

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

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.