CAEA Aviation To Become Exclusive Chinese Sales Agent

Piaggio Aero and CAEA (Beijing) Aviation Investment Co., Ltd. officially announced at the Singapore Air Show their agreement for the sale of the first two P.180 Avanti II aircraft in China. The aircraft will be delivered in Beijing in July 2012 and will be operated in China following Piaggio Aero’s CAAC Certification that was obtained in October 2011.

CAEA Aviation Investment Co. Ltd has also been appointed as the Exclusive Sales Agent for Piaggio Aero P.180 Avanti II aircraft in mainland China, and the Company will work to develop the Chinese aviation market for Piaggio Aero. China is a fast expanding regional aviation market expected to grow and open rapidly in the coming years with the Chinese Government moving to tap its enormous potential.

The success in signing the agreement between CAEA Aviation and Piaggio Aero will push the development of the Chinese aviation industry to a new altitude and will allow it to exploit its vast potential for future development. CAEA Aviation Experts predicted that many P.180 Avanti II per year could be sold, with the increase of awareness and demand from the market.

“This deal with CAEA Aviation starts an important partnership for Piaggio Aero and will help to further promote our unique P.180 Avanti II aircraft in the region. We are also delighted to welcome CAEA Aviation as the first Chinese Avanti II operator,” said Alberto Galassi Chief Executive Officer of Piaggio Aero. “We are fully confident that our aircraft represents an ideal tool for China’s private aviation market expansion. Piaggio Aero Company commits itself to provide the most excellent products for the global multipurpose aircraft market looking for the best partners worldwide to distribute and sell the aircraft. I am really happy with this agreement with CAEA Aviation which will be a business booster for Piaggio Aero in China; we are proud to be now part of this growing economy.”

"As a professional international enterprise, CAEA Aviation and Piaggio Aero will yield numerous aviation achievements in the near future," said Chairman Wang Long, President of CAEA Aviation. "Additionally we hope that both parties can work hand in hand, to make contributions for the economic development of China. CAEA Aviation, with its expertise, assists elite travelers through its full range of consultancy services on technical and financial aspects in purchasing this desired aircraft, as well as managing the operation and maintenance of the aircraft for its owners.”

FMI: www.piaggioaero.com