The success of the Potez 36 tourer led to development of the refined Potez 43, the prototype making its first flight in June 1932. It retained the strut-braced high wing which had characterised the P.36, but the span of the leading-edge slats was reduced to equal that of the ailerons and a refined fuselage was introduced with cabin accommodation for three. There was provision for wheel spats and the tail unit was revised.

The prototype and early production aircraft were powered by the Potez 6Ac engine, but later variants relied mainly on the Renault 4. Total production was 161, including a number built specifically for the Armee de I'Air for liaison and training.