Italian aircraft manufacturer Piaggio Aerospace has found an investor willing to rescue it from financial difficulties, Baykar.
The Turkish military drone maker has made the winning bid to take over Piaggio, which has been under administration since 2018.
The Italian government received three proposals to acquire the manufacturer, currently known for its twin-engine Avanti executive turboprop with a canard configuration, and considered Baykar’s offer to be the best.
Details such as the amount were not disclosed.
Baykar has committed to maintaining and improving its aircraft production activities – including related technical, logistical and training support services – as well as its maintenance and engine component production activities.
“After six years of waiting, we have restored a future for Piaggio Aerospace, a strategic asset for our country, with a long-term production perspective, safeguarding company complexes and workforce,” said Italy’s Industry Minister Adolfo Urso.
Baykar became known worldwide at the start of the war in Ukraine, when its attack drones carried out several successful missions against Russian targets.
The company then expanded its portfolio, with increasingly complex aircraft, in addition to supplying UAVs to other customers.
Piaggio, for its part, even offered a military drone, the Hammerhead, which uses the Avanti II airframe, but both versions of the aircraft were unsuccessful.
In the hands of Baykar, the long-range unmanned platform could win the orders it has been waiting for for some time.
