From engine manufacturers to airports, the COVID-19 crisis is impacting companies across the aviation supply chain, as Selwyn Parker explains.
With commercial aircraft making a welcome but uncertain return to the skies, engine manufacturers and other key suppliers to the aerospace industry are slashing production, pay and personnel as they adjust to the new post-pandemic reality of collapsing order books. Airline losses are expected to accumulate well into 2021, with trade body IATA predicting industry revenues will sink to US$598bn this year, approximately 29% below 2019’s US$838bn figure. Chief executives at many of the biggest carriers have collectively made it clear that spending through suppliers will be down for at least two years, probably longer.
