Founded by Professor Luigi Pascale, Partenavia became a limited company in 1959, and was acquired by the Italian state-owned aerospace firm Aeritalia during 1981.

Perhaps the most well recognised of its designs was the twin-engined P.68, a light multi-mission transport aircraft that made its maiden flight during 1970.

[2] During 1981, Partenavia became a part of the Italian state-owned aerospace group Aeritalia; despite its new ownership, the firm received little financial support from its parent company.

[2] Thereafter, Partenavia concentrated its resources on the P.66C Charlie monoplane trainer aircraft, producing in excess of 100 for the Aero Club d'Italia.

[3] During the company's liquidation, aircraft manufacturer Vulcanair acquired all of Partenavia's former assets, including design rights and trademarks.