Ferrari is all set to reach new heights (literally), as Piaggio chief executive Alberto Galassi said plans are finally in place for a new Ferrari jet based on the Avanti. The formal announcement of this new development was made at the European Business Aviation Conference and Exhibition (EBACE) in Geneva. Piaggio, which is partly owned by Ferrari and is licensed to use the prancing horse logo along with its shareholders – Abu Dhabi’s Mubadala and the Tata Group are committed to the project and promise stunning results. No details were however revealed about this jet but the chief did reveal that the jet will live up to the famous name. All details and information will be available only when the jet is ready to fly. After this jet is ready, Ferrari can proudly say that it not only rules the tracks but the skies as well.