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, an Italian company controlled by Mubadala, has declared insolvency due to slow sales of its Avanti Evo aircraft and P.1HH UAV, as well as prolonged market uncertainty.
- This insolvency places the future production of the unique Avanti Evo twin turboprop and the jobs of 1,200 employees in doubt.
- Delays in securing anticipated drone orders from the Italian Air Force, specifically for the P2.HH, are cited as a significant factor contributing to the company's financial troubles.
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