A trainer jet manufactured by Leonardo crashed near the town of Como in northern Italy on Wednesday, and one of the flight's two pilots has died, the defence group said.
The causes of the accident are under investigation, the state-controlled group said in a statement, adding it was premature to hypothesise on the cause.
The twin-engine light combat jet, an M-346, had taken off from Leonardo's plant in late morning "following the checks required to authorise the flight, which were completed just before take-off," the group said in a statement.
A Leonardo test pilot and an instructor pilot from an external company were on board.
The flight plan included tests aimed at demonstrating specific capabilities tested during several previous flights, the group said.
Half an hour after take-off, contact with the aircraft was lost. The rescue team subsequently located the wreckage in a mountainous area near Como. The instructor pilot from the external company was found dead.
"The top management of Leonardo expresses its deepest condolences for the death of the pilot and joins in the grief of the family," it said.
The company said it has created an internal committee to investigate the disaster.
Shares in the group closed down 4.9% at 8.68 euros, just above an intraday low of 8.64 touched after the company confirmed the accident.
(Reporting by Francesca Landini; Editing by David Goodman and Leslie Adler)
