The first airplane designed by the Institute Aviation, and first counting on an Argentine engine. It flew for the first time the 8 of August of 1944 commanded by the Lieutenant First Osvaldo Rovere. Two series of 100 units each were ordered by the Commando of Military aviation; in 1946 the first series was completed and in 1950, the second.
A monoplane of cantilever low-mounted wing, its construction was totally in native wood from the province of Missions. The fuselage was of semimonocoque structure of oval section. The stabilizer covered in wood and rudder in linen cloth. A conventional undercarriage retractable towards the center, operating electrically or manually, with hydraulic brakes.

The cockpit with tandem seats, acrylic cover; the forward with a height restriction.

The Ae 16 GAUCHO 9 cylinders radial offered 450 hp at 2200 r.p.m. with a mixed wood FMA prop initially, later a metal two-blade Hamilton Standard 2M-D30 of variable pitch.

An Armstrong Siddeley Cheetah radial of 475 hp with a two-blade Rotol constant speed propeller was fitted to a version designated I.Ae.22-C.

Initially used as an advanced trainer with dual controls, the armament included two fixed Madsen machine guns of 7.65 mm with 450 rounds each.

An  observation model has a movable machine gun in the rear position and carried three bombs of 50 kg and six rockets of 11 kg each.

Engine; 1 x 450hp Ae.16 Gaucho
Wingspan; 12.60 m / 41 ft 4 in
Length; 9.20 m / 30 ft 2 in
Height; 2.84 m / 9 ft 4 in
Wing area; 23.19 sq.m / 249.61 sq ft
Max take-off weight; 2200 kg / 4850 lb
Empty weight; 1520 kg / 3351 lb
Max. speed; 290 km/h / 180 mph
Cruise speed; 226 km/h / 140 mph
Ceiling; 6000 m / 19700 ft
Range; 1100 km / 684 miles
Crew; 2