Piaggio Aerospace announced it has signed a new contract, worth around €196 million, with the Italian Ministry of Defence for the supply of nine P180 Avanti EVO aircraft.
The agreement was formalized between the MoD’s Directorate of Aeronautical Armaments and Airworthiness (DAAA) and the Extraordinary Commissioner of Piaggio Aerospace Vincenzo Nicastro.
According to the contract, the Italian manufacturer will produce and deliver five P180 Avanti EVO aircraft in passenger transport and ambulance configuration with the remaining four aircraft in flight inspection configuration, in a time span of four years. Under the same contract, Piaggio Aerospace is also committed to retrofit the first P.180 Avanti already operated by the Italian Armed Forces. These activities are worth 130 million euros.
According to the agreement, the Ministry will also finalize a commitment – within 24 months – for the retrofitting of more 18 aircraft currently in the availability of the Carabinieri, the Army, the Navy and the Air Force itself. This will guarantee Piaggio Aerospace a further 66 million euro in turnover, thus bringing the total value of the contract to €196 million.
“The order finalized today – just one year after the extraordinary administration started – is the result of the joint and generous effort of all parties involved: the Italian Government, the Armed Forces and local Institutions”, Nicastro commented.
“This represents for Piaggio Aerospace a turning point: with the restart of aircraft production, we will also be able to gradually reintegrate workers currently into temporary layoffs. Nevertheless, we are not going to stop here. We will continue to work on the private market, with the aim of finalizing new, significant orders. In the meantime, we are almost ready to launch the tender for the sale of the company’s assets which we plan to publish after the Christmas break”, he added.
Just five days before signing this agreement, Piaggio Aerospace was awarded a contract, worth 50 million euros, with the Italian MoD to provide technical-logistic support for the Honeywell T55-L-714A turboshaft engine powering the Italian Army CH-47F Chinook heavy-lift helicopters.