Formed 12 November 1969 by equal shareholding of Fiat and IRI-Finmeccanica to combine Fiat aerospace activities (except engines) and those of Aerfer and Salmoiraghi. Fully operational January 1972. In September 1976 IRIFinmeccanica bought Aeritalia stock owned by Fiat.
Took control of Partenavia in 1981-1992 under its General Aviation Group.
As Panavia partner, designed and developed variable-geometry wing and other important features of Tornado multirole aircraft. Became partner in AMX program (see AMX International), and joined Aerospatiale of France in establishing ATR. Merged with Selenia in December 1990, to form Alenia Aerospazio.