How far down the road really is Piaggio's new jet?

We suspect Piaggio is a bit further down the line with its P1XX jet project than it cares to admit. On a visit to Italy recently, several suppliers mentioned that they were working hard on designs for elements of the aircraft. Mubadala - the Croesus-rich Abu Dhabi investment fund which majority owns the company along with Indian industrial giant Tata - has also said that it wants to build a business jet in the desert emirate by 2018 and views the project as a cornerstone of its aerospace ambitions. Look out for an announcement at next year's EBACE.