The Italian Ministry of Enterprise and Production has approved the sale of the renowned aviation company Piaggio Aerospace to the Turkish manufacturer Baykar. Founded in 1884, Piaggio Aerospace is known as the “Ferrari of the sky” thanks to its P.180 Avanti business jets and aircraft engines.
Piaggio Aerospace is a key player in the Italian defense industry, providing maintenance, repair and overhaul (MRO) services. With this acquisition, Baykar plans to strengthen its position in the European aviation market and expand the company’s production capacity.
Baykar intends to preserve and expand jobs in Italy, while continuing to leverage Piaggio Aerospace’s potential for innovation in the aviation and defense sectors.