Piaggio Aero Enters Brazilian Market

PIAGGIO AERO PRESENTS AT EBACE 2014 THE NEW AVANTI EVO PERFECTION THROUGH EVOLUTION

Geneva (Switzerland) May 19th 2014:Piaggio Aero Industries, the Company active in the design, manufacturing, and maintenance of both aircraft and aero engines, today announced the launch of the new Avanti EVO twin turboprop aircraft. The Avanti EVO was unveiled at the European Business Aviation Convention and Exhibition (EBACE). It represents an important first milestone in an industrial program going forward that includes Piaggio Aero’s product portfolio development and diversification and a new state of the art production facility at Villanova d’Albenga, Savona, Italy. The new Avanti EVO builds on the highly renowned Avanti P.180 platform, and brings a host of improvements and upgrades to boost efficiency, reduce operating costs, provide greater levels of comfort for passengers, and be even kinder to the environment. With a maximum speed of 402KTAS, the Avanti EVO is the fastest turboprop in the world and faster than many jets – doing so at fuel economy and emissions levels significantly below that of rival aircraft. Amongst its many improvements, the new Avanti EVO features:

 Airframe improvements including winglets, redesigned nacelles, and a reshaped front wing to help boost efficiency and cut emissions by 3%. Climb performance also increases by 3%  New five-blade scimitar propellers, which combine with aerodynamic changes to considerably reduce external noise by 68% - 5 dB(A) making the Avanti EVO a better neighbor. Passenger comfort is further improved thanks to a internal noise reduction by 20% - 1 dB(A) to the whisper quite Avanti EVO signature cabin  System upgrades including anti-skid braking, new low-maintenance landing gear, new digital steering, LED lighting inside and out, and other design and manufacturing advances which improve performance and cut maintenance requirements

 The introduction of an Increased Range Configuration option, increases the maximum range by 17% from 1470 nm to 1720 nm  An all-new and improved cabin experience, with newly designed VIP seats developed by renowned design specialists Iacobucci HF, and finished by luxury outfitters Poltrona Frau  New cabin air conditioning and lighting systems that give passengers even greater control over cabin comfort

Alberto Galassi, Chairman of Piaggio Aero Industries said, “The new Avanti EVO represents excellence and provides everything business aviation requires to meet the increasing demands on time that prevail today. It improves performance and delivers more for our customers but with even greater efficiencies, all combined with our unbeatable Italian style. It marks an historical moment under the new ownership of Mubadala, and vividly displays its commitment to Piaggio Aero and our aircraft, and investment in major new production facilities.”

Carlo Logli, Chief Executive Officer of Piaggio Aero said, “The Avanti design has become an icon for safe, efficient, and comfortable travel, that combined all the strengths of a turboprop with the speed of a light jet. It is with great pride that I see the next stage in its contribution to business aviation, in the shape of the Avanti EVO. As Piaggio Aero embarks on a new chapter in its growth and future development, thanks to the support of our shareholders, the new aircraft is a perfect starting point that underpins future growth.”

In addition to the new Avanti EVO aircraft, Piaggio Aero also revealed plans to strengthen its existing Customer Service organization and service network to improve customers’ ownership experience and place them front and center. A range of new activities encompasses a number of initiatives including a close monitoring and consolidation of the stock inventory to improve parts availability, closer ties with Authorized Service Centers to improve service to suit customers’ needs, and the creation of a bespoke integrated lifecycle program – “Parts Total Care”.

The brand new Parts Total Care is a modular and customizable new program designed to cover operators’ spare parts requirements for factory-delivered new Avanti EVO aircraft, that provides customers with an accurate and reliable cost through a competitive rate per flight hour. Coupled with the other service network improvements currently ongoing, the innovative program gives owners and operators a major advancement in budget control and aircraft management.

Avanti EVO is the latest chapter in the story of the aircraft which rewrote the rulebook on aviation elegance, design, and performance. Avanti EVO blends the very best of Italian style, peerless craftsmanship, and intelligent thinking to create an aircraft that stands alone for its values. With greater range, faster climb, reduced fuel costs, a lower noise footprint, added safety systems, and a more luxurious cabin, Avanti EVO is yet another step forward.

The remarkable new Avanti EVO: Perfection through Evolution.

Editor’s Note

ABOUT PIAGGIO AERO INDUSTRIES S P.A. Piaggio Aero Industries is active in civil and ISR Aircraft design, manufacturing, maintenance and overhaul and also manufactures Aero-Engines parts, while managing repairs and engine overhauls under license. It is based in Genoa, Finale Ligure (Italy), and a new state of the art center of aviation excellence under completion in Villanova d’Albenga (Italy). Piaggio America, the subsidiary covering marketing, sales and customer support in the Americas is based in West Palm Beach Florida, U.S.A. Piaggio Aero’s flagship product is the Avanti EVO, the fastest, most advanced executive/multi-utility turboprop in the world, offering the speed of a light/mid-size jet, and the comfort of a large, whisper quiet full stand-up cabin, with fuel efficiencies 40% greater than most business jets. The new vision of Piaggio Aero is maintaining its role as a global brand in business aviation and to become a prominent player in the surveillance and security sector producing leading edge Unmanned Aerial Systems and world class Multirole Patrol Aircraft. The company is working on 2 new ISR aircraft programs: the P.1HH HammerHead, and the Piaggio Aero MPA Multirole Patrol Aircraft. Piaggio Aero’s shareholding structure is: Mubadala Development Company, the development and investment company driving the economic diversification of Abu Dhabi, owning 98.05% of the share capital; and Mr. Piero Ferrari who owns 1.95%.

For further information please contact: