Italian Government Approves Sale, Keeping Company Alive

The government of Italy approved the sale of longtime manufacturing and aerospace company Piaggio Aerospace to the Turkish firm Baykar, who said the acquisition will expand its reach in the European Union.

It may also give Baykar access to the U.S. F-35 program through Piaggio, who supplies some components of the F-135 engine.

Turkey had been part of the Lockheed Martin-led F-35 program with several of its companies making parts for the aircraft until 2019, when the U.S. suspended the arrangement after the Turkish government decided to purchase the Russian S-400 air defense systems.

In a statement from the Ministry of Business and Made in Italy, Industry Minister Adolfo Urso said, “The relaunch of the company is guaranteed, with a clear and ambitious industrial vision. After six years of waiting, we are giving Piaggio Aerospace a future, a strategic asset for our country, with a long-term production perspective, safeguarding corporate complexes and workforce.”

Founded in 1884 as a manufacturer for the rail industry, Piaggio evolved into an aviation and aerospace company that produced the well-known Avanti and Avanti EVO business aircraft, and more recently UAVs with its P.1HH HammerHead and the P.180 Avanti unmanned aircraft.

Caglar Kurc, a defense analyst and Assistant Professor at Abdullah Gül University said, “It makes sense for Baykar to buy an Italian company. This will provide access to European markets, but also access to EU funded projects. I also think that this would protect Baykar’s business with European countries if there are any crises between Turkey and European countries (or EU).”

FMI:  baykartech.com/