Piaggio Aerospace, a multinational aerospace manufacturing company headquartered in Genoa, Italy was forced to take a “difficult decision” and has asked to be put into receivership. The company will request admission to the procedure to the Italian Ministry of Economic Development (Ministero dello Sviluppo Economico).
An official statement of the company explains that “despite the commitment and hard work of all Piaggio Aerospace employees, as well as the significant financial support sustained by our partner over the years, the fundamental target of the recovery plan approved in 2017 did not materialize. Continued uncertainty and current market conditions mean that the company is no longer financially sustainable.”
Therefore, the Board of Directors of Piaggio Aerospace has made the difficult decision – and considering the state of insolvency of the company – to apply for the extraordinary administration procedure (Marzano-law) to the Ministry of Economic Development.
This post was published on 23 November 2018 08:55
Air France-KLM began 2025 with a €161 million year-on-year improvement in operating result, bringing Q1…
Lufthansa has operated its first-ever Airbus A380 flight to Denver, marking a milestone for both…
KLM Group reported €2.9 billion in revenue for Q1 2025, up 8% year-on-year, while narrowing…
Boeing announced that its 787 Dreamliner fleet has carried over 1 billion passengers, achieving the…
Global air travel demand rose by 3.3% year-on-year in March 2025, slightly up from February’s…
TUI fly is expanding its services and will now operate year-round direct flights from Ostend-Bruges…
