Turkey’s Baykar Acquires Italian Aviation Companies

Istanbul: Turkish group Baykar has announced a preliminary agreement to acquire two Italian companies currently under extraordinary administration, Piaggio Aero Industries and Piaggio Aviation. The agreement was sealed on Monday, marking a significant expansion for Baykar, known for its specialization in UAV (Unmanned Aerial Vehicles) systems and advanced aerospace technologies.

According to Ansa News Agency, the deal was formalized with the involvement of Baykar CEO Haluk Bayraktar and the administrators of the Italian firms, Carmelo Cosentino, Vincenzo Nicastro, and Gianpaolo Davide Rossetti. Piaggio Aero Industries and Piaggio Aviation are recognized for their expertise in the design, construction, and maintenance of aircraft and aviation engines, catering to private, public, and military clients. This acquisition signifies a strategic move for Baykar, broadening its footprint in the aerospace sector.