Avio: From Unassuming Supplier to key Player in European Space

Most readers are likely familiar with Leonardo (market capitalization €26.8 billion) at least since the European-wide rearmament. The stock of the Italian defense company has risen by 110% in the last 12 months, attracting significant attention. Meanwhile, it flew under the radar that the "little brother" Avio (market capitalization €825 million) recorded an even greater share price increase of 160% during the same period. With 30%, Leonardo is by far the largest shareholder of Avio. Although this somewhat affects Avio's independence, the arrangement...