Financial Insights That Matter
Posted By Global Banking and Finance Review
Posted on January 24, 2025
ROME (Reuters) – Italian defence and aerospace group Leonardo is about to enter into a partnership with Turkish drone maker Baykar for unmanned systems, a source familiar with the matter said on Friday.
The deal is close to being finalised, the source added.
Baykar drones have gained prominence globally after being used by Ukraine’s military against Russian forces as well as in campaigns in Azerbaijan and North Africa.
The company has become one of the most prolific drone exporters globally and, in December, it bought Italian aircraft producer Piaggio Aerospace, which had been under government-controlled special administration since filing for protection from creditors in 2018.
Italy’s Industry Minister soon after expressed interest in an industrial partnership between Italy and Baykar.
Italian defence news site RID, which first reported on the possible Leonardo-Baykar deal, said it could turn into a joint venture.
(Reporting by Giuseppe Fonte and Giulia Segreti, editing by Alvise Armellini and Louise Heavens)
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