Piaggio Aerospace receives from Bank Ifis a loan from 30 million euro in the form of advance contracts and factoring operations. The agreement was formalized after the green light received from the Ministry of Economic Development.
“The agreement allows a Piaggio Aero Industries and Piaggio Aviation, the two companies under extraordinary administration that operate under the Piaggio Aerospace brand, to definitively bring production and maintenance activities up to speed - explains the Extraordinary Commissioner Vincent Nicastro – thus gradually recalling and according to the agreed plan the workers still on layoffs. The sales process can also be completed".
Luciano Colombini, CEO of Banca Ifis, said that for the institute "it is the second operation with the aeronautical group, after a first credit line finalized in 2019 for the transfer of tax credits, in support not only of production but of territories in which the company operates and, above all, employment. In fact, our institute has been working alongside companies and Italian entrepreneurs for over thirty years, integrating corporate strategy and sustainability, to create value in the medium-long term".
Recently Nicastro - appointed commissioner by the Government in December 2018 - launched an international tender to sell the business complexes of the two companies. In all, 19 expressions of interest were received, 11 of which were subsequently admitted to the data room. The goal of the group is to find a new owner by the end of this year.
Piaggio Aerospace has recently signed a new multi-year contract with the Defense for the integrated logistic support of the P.180 fleet supplied to the Armed Forces. The company therefore has an order book of 640 million euros, but other orders for around 260 million euros are currently being negotiated. The total should therefore reach 900 million euros.
