This is one of the Re 2001s modified for service on the air carriers (never launched) in construction for the Regia Marina, the Aquila and the Sparviero. The major modifications were the tail wheel and the retainer hook. Some Fiat G50s were modified in the same way. DVX

Air carrier fighter

The Reggiane 2005 Sagittario was the third of the Serie 5 fighters. Small numbers of this aircraft entered in combat in summer 1945 with great success especially against the Allied heavy bombers. After the Italian armistice, only an handful of Re 2005 could be used by the ANR because the Reggiane factory in Reggio Emilia was completely destroyed by a massive bombing in  january 1944. DVX

Fighters serie 5: Re 2005 Sagittario

Iterum rudit leo. It's the latin motto that means "for the second time roars the lion" (of S. Marco). The Lion of San Marco is the symbol of the ancient Republic of Venice. 
This motto was an invention of the famous poet Gabriele D'Annunzio in WWI. 
Marine of San Marco division. DVX