CONCERN OVER the future of Piaggio is growing as attempts to find a new owner fail to progress. The troubled, Italian Aerospace Company has been run for the past three months by administrators, appointed by, the Italian Bankruptcy Courts.
Switzerland's Pilatus group has withdrawn from the bidding, leaving the possibility of a renewed joint bid from Finmeccanica/Aermacchi and an undisclosed offer from Finprogetti, an Italian holding company apparently acting for foreign buyers.
The Finprogetti proposal is now to "rent" the company for three years, before going through with the purchase, but this is understood to have met a cool reception from the administrators.
Source: Flight International
