Italy's Alenia Aerospazio plans to acquire Italian trainer specialist Aermacchi, in which it has a minority stake, and roll the company into its joint venture with EADS (European Aeronautic Defence and Space). The C-27J tactical transport could become part of the new company's product line-up.
Filippo Bagnato, head of Alenia's Aeronautica division, says: "The goal is to bring Aermacchi into the joint venture." While talks continue between Alenia and EADS, parallel negotiations will take place to acquire the 75% of Aermacchi not owned by Alenia. "If the negotiations are successful, then Aermacchi will enter the venture."
Aermacchi produces the MB339 and S211 jet trainers, plus turboprop and piston-engined offerings, and is working on the YAK/AEM-130 joint venture with Russia's Yakovlev. The business is majority-owned by the Foresio family, headed by chairman Fabrizio Foresio.
The EADS-Alenia partnership, agreed in April and known for the moment as the Joint Venture Company, is due to be formalised early next year. The business will combine Alenia's civil aircraft, fighter and military transport businesses with the military activities of EADS partners CASA and DaimlerChrysler Aerospace (Dasa) and Aerospatiale Matra's ATR work with Alenia.
A senior Alenia source says that though the C-27J - a joint programme with Lockheed Martin - is not formally part of the joint venture talks, it is likely to be offered as part of the deal. "We will shortly have talks with Dasa and CASA and we will probably put the C-27J on the table," adds the source. The aircraft competes with CASA's CN235M/C295 transport family.
• The co-ordinators of Alenia parent Finmeccanica's flotation - Mediobanca, Merrill Lynch and Schroder Salomon Smith Barney - were due to decide on exercising an option to sell a further 5.9% of the company, worth L1,400 billion ($693 million), as Flight International went to press. A total of 39.3% of Finmeccanica has been floated, but with the offer price below its current market price, the co-ordinators may go to the market to fulfil investor requests, rather take up the option.
The Italian Treasury, taking direct control of remaining Finmeccanica shares with the liquidation of holding company IRI, could be left holding more stock, and receiving less cash, than expected.
Source: Flight International
