{"id":6581,"date":"2023-06-14T07:46:49","date_gmt":"2023-06-14T07:46:49","guid":{"rendered":"https:\/\/aviation-news.info\/?p=6581"},"modified":"2023-06-14T07:46:49","modified_gmt":"2023-06-14T07:46:49","slug":"piaggio-receivership-commissioners-extend-sale-deadline","status":"publish","type":"post","link":"https:\/\/aviation-news.info\/?p=6581","title":{"rendered":"Piaggio Receivership Commissioners Extend Sale Deadline"},"content":{"rendered":"

Italian officials seeking buyers for Piaggio Aerospace and Piaggio Aviation have extended the deadline to receive expressions of interest by one week to June 19. In a statement issued today, the \u201cextraordinary commissioners\u201d handling the receivership process said they have allowed more time for several interested parties to submit the\u00a0required documents.<\/p>\n

According to the statement, Piaggio Aerospace holds an order backlog worth \u20ac556 million ($609 million) covering 17 units\u00a0of its P.180 Avanti Evo twin-pusher business turboprop. It said that the Genoa-based company is expected to break even on its balance sheet by year-end.<\/p>\n

In May, the\u00a0commissioners announced\u00a0that the sale process can run for an additional 12 months to be concluded by May 13, 2024. Once the June 19 deadline passes, eligible applicants, which could include approved foreign interests, will be given 30 days to conduct due diligence on the company data before having to make binding offers.<\/p>\n

In addition to civil versions of the Avanti Evo, the company produces a multirole patrol aircraft and uncrewed air systems for defense customers. It is also involved in aircraft engine manufacturing under licenses from a number of international OEMs.<\/p>\n

The government-backed sale process has had several false starts since it was started in November 2019, having most recently failed to close a deal\u00a0in 2022.<\/p>\n

source: https:\/\/www.ainonline.com\/aviation-news\/business-aviation\/2023-06-13\/piaggio-receivership-commissioners-extend-sale-deadlin<\/a>e<\/p>\n","protected":false},"excerpt":{"rendered":"

Italian officials seeking buyers for Piaggio Aerospace and Piaggio Aviation have extended the deadline to receive expressions of interest by one week to June 19. In a statement issued today, the \u201cextraordinary commissioners\u201d handling the receivership process said they have allowed more time for several interested parties to submit the\u00a0required documents. According to the statement, …<\/p>\n","protected":false},"author":1,"featured_media":6582,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpscppro_dont_share_socialmedia":false,"_wpscppro_custom_social_share_image":0,"_facebook_share_type":"","_twitter_share_type":"","_linkedin_share_type":"","_pinterest_share_type":"","_linkedin_share_type_page":"","_instagram_share_type":"","_medium_share_type":"","_threads_share_type":"","_google_business_share_type":"","_selected_social_profile":[],"_wpsp_enable_custom_social_template":false,"_wpsp_social_scheduling":{"enabled":false,"datetime":null,"platforms":[],"status":"template_only","dateOption":"today","timeOption":"now","customDays":"","customHours":"","customDate":"","customTime":"","schedulingType":"absolute"},"_wpsp_active_default_template":true},"categories":[96,102],"tags":[],"class_list":["post-6581","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aviation-world","category-featured-en"],"yoast_head":"\nPiaggio Receivership Commissioners Extend Sale Deadline - aviation news<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/aviation-news.info\/?p=6581\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Piaggio Receivership Commissioners Extend Sale Deadline\" \/>\n<meta property=\"og:description\" content=\"Italian officials seeking buyers for Piaggio Aerospace and Piaggio Aviation have extended the deadline to receive expressions of interest by one week to June 19. In a statement issued today, the \u201cextraordinary commissioners\u201d handling the receivership process said they have allowed more time for several interested parties to submit the\u00a0required documents. 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