Piaggio Aero (Booth D11) has appointed CAEA Aviation Investment Co. as its exclusive sales agent in China. The Italian manufacturer also has announced CAEA’s first sale here at the Singapore Airshow, comprising two P180 Avanti II turboprops, to an unnamed customer.
The two 1,500-nmi-range aircraft will be delivered in Beijing in July 2012. CAEA, which is carving out a niche in business aviation sales, states on its website that it “plans to introduce 300 business jets to China within 10 years.”
“This deal with CAEA Aviation starts an important partnership for Piaggio and will help to promote our aircraft in the region,” commented Piaggio CEO Alberto Galassi. “We are also delighted to welcome CAEA as the first Chinese Avanti II operator.”
CAEA set up shop last year with an initial investment of just over $17 million. Major shareholders include China’s Duowei Group, Beijing Shangshuai Education Group and China Red Sun Health Industrial Group. The company also provides private equity fund investment, aircraft sales and distribution of Italian Piaggio and Canadian Twin Otters in China, plus aircraft management and a jet card charter service.
The company also said it will “continue to introduce foreign advanced business jets, to build our own fleet, to expand our private jet charter business, leasing, management, flight training school, air tours, recreational flying and other services. More airplane exclusive distribution rights in China are under negotiation.”
Piaggio has 11 representative offices in the Asian region, and in addition to the two new Chinese aircraft, an installed fleet of seven P180s: three in Indonesia, two in Bangladesh, one in India and one in Taiwan.