The future fate of the Avanti Evo twin turboprop is in doubt following the insolvency of Italy’s Piaggio Aerospace. The company, controlled by Abu Dhabi-based investment firm Mubadala, declared bankruptcy on November 22 following slow sales of the Avanti Evo and the UAV version of the aircraft, the P.1HH. About 1,200 people are employed by Piaggio Aerospace and the future for those positions remains unclear as well.
Avanti Evo’s Future in Doubt as Piaggio Aerospace Declares Itself Insolvent
Key Takeaways:
- Piaggio Aerospace has declared insolvency due to sluggish sales of its Avanti Evo turboprop and P.1HH UAV, placing the aircraft's future and approximately 1,200 jobs in jeopardy.
- Controlled by Abu Dhabi-based Mubadala, the company has entered "special administration," raising doubts about the continued production of the distinctive Avanti Evo.
- A major factor contributing to Piaggio's financial troubles is the uncertainty and delays surrounding an anticipated large drone order from the Italian Air Force.
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