Italy’s Piaggio Aero Industries (Stand 1906) announced before the Dubai Airshow that India’s Tata group is now its largest shareholder, with 44.5 percent of the company’s new equity.
After making a €190 million cash infusion, Tata Ltd., the British arm of the Indian Tata Group, and Abu Dhabi-based Mubadala Development became the main shareholders of Piaggio Aero Industries, while Piero Ferrari remains as a minority stakeholder. Before the transaction, Tata and Mubadala each owned a one-third share in the company.
ACEA (Beijing) Aviation Investment, the Piaggio Avanti distributor in Mainland China, signed a contract yesterday at NBAA 2013 with SR Jet, a division of Beijing-based Sparkle Roll Investment Holdings, for the purchase of two extended-range Avanti IIs with options for eight more. The aircraft will incorporate an additional tank with a 400-pound capacity, increasing the maximum fuel on board to 3,226 pounds from 2,826 and extending the maximum range by 250 nm, to 1,720 nm with IFR reserves.
Piaggio Aero Industries, Italian manufacturer of the P.180 Avanti II twin turboprop, and ACEA (Beijing) Aviation Investment Co., exclusive distributor for the aircraft in Mainland China, signed a contract here at NBAA 2013 yesterday with SR Jet, a division of Beijing-based Sparkle Roll Investment Holdings, for the purchase of two Avanti IIs with options for an additional eight.
NBAA’s convention and trade show is about networking, and no one knows how to network better than the women and men who are at the core of the non-profit Women in Corporate Aviation (WCA). Instead of holding down a booth, these generous individuals, with the support of the companies the work for, comb the halls as they work to create opportunities for those trying to break into the industry.
The first of 56 Avanti P.180 turboprop twins from the former fleet of bankrupt Avantair has had its airworthiness certificate revalidated by the FAA, Italian aircraft manufacturer Piaggio told AIN yesterday at NBAA 2013. Avantair was grounded in June, and the airworthiness certificates for all of its aircraft were revoked by the FAA, due to lax maintenance.
Italian aircraft manufacturer Piaggio has told AIN that the first of 56 Avanti P.180 twin-turboprop aircraft from the former fleet of bankrupt Avantair has had its airworthiness certificate revalidated by the FAA. Avantair was grounded, and the airworthiness certificates of all its aircraft were revoked by the FAA, after lax maintenance at the failing fractional program operator came to light earlier this year.
New Jersey-based Part 145 repair station Teterboro Rams, which has mechanics’ liens on four ex-Avantair Piaggio Avanti turboprops in its possession, is “in negotiations with two groups [of owners] to release two of the aircraft,” Rams co-owner Dennis Espinosa told AIN. The FAA revoked the airworthiness certificates of all 56 ex-Avantair Avantis not long after the fractional provider was declared insolvent in late July.
Southern England-based business aircraft sales, charter and management firm ConnectJets has been awarded the UK dealership for the Piaggio Aero Avanti II. As such, it is now the dealer for the twin turboprop in the UK, Ireland, the Channel Islands and the Isle of Man. ConnectJets said it will soon announce a partner so it can launch a shared-ownership program later this year for Avanti II clients throughout the UK and aforementioned self-governing Crown dependencies.
Palm Beach, Fla.-based Piaggio America–the North American representative for Piaggio Aero, the Italian company that manufactures the Avanti twin turboprop–will create an “OEM-trained team with the support of additional specialists furnished from Italy” to offer restoration services to fractional share owners of Avantis grounded by the bankruptcy of Avantair, Piaggio America president and CEO John Bingham told AIN yesterday.