While most of the world's general aviation manufacturers are posting
falling revenues and aircraft shipments, Italy's Piaggio Aero
is bucking the trend. Company chairman Piero Ferrari reports deliveries
of 14 Avanti twin-turboprop business aircraft in 2002, up from
13 the previous year and just six in 200. The current backlog
of firm orders stands at 18, and the Finale Ligure-based manufacturer
expects to build 22 this year.
"Notwithstanding the world economic situation that has damaged
the entire segment of business aviation, showing a drop in overall
revenues equal to 14.4% in 2002, Piaggio Aero increased its world
market share from 7% to 13%, and in our opinion it confirms the
actions taken by the shareholders to further strengthen the company,"
says Ferrari.
Piaggio has identified its target markets as the USA, Canada and
the UK, mostly directed towards enquiries from operators in the
fractional ownership business. Most of the growth in 2002 came
from the U.S., where Ferrari says "Piaggio demonstrates its
capability to grow in spite of U.S. economic slowdownThe competition
have cut down the workforce, or even temporarily shut down their
plants. We, to the contrary, have increased production and earned
market shares taken away from international manufacturers, confirming
that Piaggio Aero is a sound and aggressive Italian company able
to compete in difficult markets."
