Piaggio completing jet design
Here comes another business jet. Piaggio says it will freeze the design of its long-rumored new jet by this summer, but it isn’t discussing details until the aircraft is ready to fly. Much of the manufacturing will be done in Abu Dhabi, where an investment company owns a third of the Piaggio firm, but final assembly will be done at the Piaggio plant in Genoa, Italy.
The main shareholder is Tata located in India. Company officials said this is a long-term investment, not a quick effort to realize an immediate profit. For Abu Dhabi, it could mean the start of an aerospace segment for that area. The investment company in Abu Dhabi is Mubadala.
When the design is complete, the company will announce its suppliers. Piaggio makes the speedy P180 Avanti twin-engine pusher turboprop.
May 20, 2011