Logo of Public Investment Fund (PIF)
Saudi Arabia’s Public Investment Fund (PIF) is in talks to invest in Italy-based aerospace group Leonardo’s aerostructures unit, Bloomberg reported, citing informed sources.
Negotiations between the two parties are still at an early stage and there is no guaranteed agreement. One possible outcome is for the Italian group to build a factory in Saudi Arabia, the sources added.
Leonardo’s aerostructures unit provides major structural parts for the Boeing 787 Dreamliner. However, some losses were recently endured partly because production delays in the US have slowed down work at Leonardo’s facilities.
In 2024, Leonardo’s aerostructures unit achieved revenues of $784 million (SAR 2.94 billion).
CEO Roberto Cingolani recently said he has found an investment partner for the company, pledging to provide updates to Leonardo’s strategy on March 11.
Augustine Serna
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