Mubadala Development, an investment company owned by the government of Abu Dhabi, has acquired 35 percent of Italy’s Piaggio Aero, manufacturer of the Avanti II turboprop twin. “The transaction is founded on a shared belief by the two parties that the business aviation segment will continue to expand significantly over the foreseeable future,” Piaggio officials said.
Piaggio shipped only three Avantis in the first nine months of this year, hardly enough to keep up with demand, particularly from one of the OEM’s largest single customers, fractional provider Avantair. Lack of new Avantis is the primary reason that Avantair will record a loss of nearly $21 million this year, according to a recent SEC filing by the company’s new owner, Ardent Acquisition.
Landmark Aviation and Avantair announced a five-year maintenance service agreement for Landmark to provide service, including heavy maintenance inspections, for the fractional carrier’s fleet of Piaggio Avantis. The value of the contract is $5 million over five years and couldincrease if additional aircraft are serviced.
Piaggio Aero Industries chief executive Josè DiMase yesterday confirmed industry speculation that the Italian manufacturer is indeed developing a business jet, revealing that the new airplane would be larger and have a longer range than the company’s sleek Avanti II turboprop.
The Avanti II won EASA certification in October, and delivery of the first new-version aircraft was scheduled for shortly after the Dubai Air Show (November 20 to 24) to an unidentified Swiss customer.
Although Piaggio named two new completion centers for the Avanti at the NBAA Convention last month, Tom Appleton, president and CEO of Piaggio America, told AIN at press time that the announcement was “premature” and the companies are still working out the details.
Piaggio Avanti frax operator Avantair has a new owner–Alfred Rapetti–and in the middle of next year will relocate its headquarters from Caldwell, N.J. to Clearwater, Fla. The company originally opened the Florida facility this summer as a southeast maintenance and operations base. Avantair currently operates 21 Avantis and plans to double that number by the end of the year.
Around the beginning of this month Avantair was expected to take delivery of another Piaggio Avanti. This aircraft will be not only the 22nd for the fractional provider but also the 100th Avanti delivered–exactly 15 years to the month since the turboprop twin received certification in October 1990.
Piaggio received EASA certification for the Avanti II, an upgraded version of the turboprop twin. FAA approval is expected within the next few weeks. The Avanti II features a higher mtow and Rockwell Collins Pro Line 21 avionics. The aircraft will be on display at the NBAA Convention this month.
Arinc Direct announced that its FAA Part 145 certified repair station at Scottsdale, Ariz., has been named a factory authorized service center for the Piaggio Avanti and Avanti II. It is only the second Part 145 repair center in the U.S. to earn the authorization.