Greece Protests Piaggio Aerospace Sale to Baykar
**Greece is gearing up to protest the recent sale of Piaggio Aerospace, an Italian aerospace company, to Baykar, a Turkish defense firm.** The Greek government contends that this transaction breaches European Union (EU) regulations, specifically emphasizing the need for member states to consult one another before engaging in such significant sales. This move is part of a broader diplomatic strategy by Athens to bolster defense industry restrictions against Turkey.
In its efforts, Greece has previously urged France to block the sale of METEOR missiles to Turkey, and now it is turning its attention to Italy regarding the Piaggio Aerospace deal. According to the prominent newspaper Kathimerini, Greek officials are deeply concerned about the implications of this sale, arguing that it violates EU Regulation 2019/452. This regulation mandates that EU member states notify their counterparts before selling strategic companies to external investors, particularly when national security may be at stake.
EU Regulations and Security Concerns
The Italian Ministry of Enterprises and Made in Italy has approved the sale of Piaggio Aerospace to Baykar, which is recognized as the leading drone manufacturer globally. Baykar emerged as the highest bidder in a competitive auction, surpassing contenders from various nations for the esteemed aerospace company, originally founded in 1884. The auction underscored Baykar’s strong financial backing, as they collaborated with Pragma Consulting for thorough evaluations.
Piaggio Aerospace is often referred to as the “Ferrari of the skies” due to its acclaimed P.180 Avanti jets and aircraft engines. Beyond its reputation in aviation, the company holds a vital position within Italy’s defense industry through its maintenance, repair, and overhaul services. With a rich history spanning 140 years, Piaggio has made substantial contributions to Italy’s technological landscape.
Italian Government’s Vision for Piaggio Aerospace
Italian Minister Adolfo Urso has expressed optimism regarding the future of Piaggio Aerospace, emphasizing a clear and ambitious industrial vision for the company. He stated, “After six years of waiting, we are offering a future to Piaggio Aerospace. As a strategic asset for our country, this company is being revitalized with a long-term production perspective while institutional structures and labor forces are preserved.” This strategic vision aims to secure the company’s operational status and ensure its contribution to Italy’s aerospace sector.
With Baykar’s acquisition, there is an intent to solidify its presence in the European aerospace market while simultaneously honoring Piaggio’s legacy. The deal is expected to enhance production capacity and potentially increase employment opportunities in Italy, further integrating Baykar into the European market. This acquisition represents a significant milestone for the Turkish aerospace industry, as it aligns with broader strategic goals while preserving the historical identity of Piaggio Aerospace.
