Piaggio Aerospace outlines five-year plan

摘要

The board of Italy's Piaggio Aerospace has approved a strategic industrial plan that will cover the next five years and will, according to the company, "secure the long-term financial and operational stability of the business." The plan is based on two main pillars: comprehensive financial restructuring and "operational commitments and developments." The former will include a £255 million ($342 million) cash injection by Mubadala Investment Company "to support Piaggio Aerospace's financial needs" combined with a "total bank debt repurchase and conversion to equity by the shareholder in support of Piaggio Aerospace's balance sheet."