Subsequently re-engined with 1,000 hp Piaggio P.XI R.C.40 fourteen-cylinder air-cooled radials driving three-bladed propellers, the aircraft established speed records over 621.4 mls (1,000 km) and 1,242.7 mls (2,000 km) courses, carrying 11,023 lb (5,000 kg) at 251 mph (404 kmh) on December 30, 1938. Pilots were Angelo Tondi and G. Pontonutti, accompanied by two mechanics. For propaganda purposes the P.23R was referred to as the P.123 bomber. On March 3, 1939 the aircraft was registered as I-ABOC.
Span: 96 ft 6 in (29.41 m)
Length: 77 ft 10.75 in (23.74 m)
Height: 16 ft 2 in (4.93 m)
Wing area: 982.4 sq.ft (14 sq.m)
Weight empty: 26,410 lb (11,979 kg)
Loaded weight: 41,857 lb (18,986 kg)
Max speed: 273 mph (440 kmh) at 15,879 ft (4,840 m)
Cruise speed: 217 mph (350 kmh)
Landing speed: 93 mph (150 kmh)
Climb: to 13,123 ft (4,000 m) 16 min 30 sec
Service ceiling: 23,622 ft (7,200 m)
Range: 2,360 mls (3,800 km)