Wave of job losses announced, concern in supply chain and communities
With air travel reduced to 1/10 and new announcements appearing daily of airlines cancelling orders for new aircraft, cuts to aircraft delivery rates and redundancy plans, the aerospace industry is readying itself for possibly the most significant downturn it has ever experienced.
These shocks are now evident in the Midlands aerospace cluster. Companies that make it through intact may take several years to recover their growth.
Our review of the press over the past few days tells the story.
27 Apr ‘Survival Of Airbus' At Risk, Faury Warns Aviation Week
28 Apr Airbus to furlough 3,000 staff in Wales after warning it is 'bleeding cash' The Guardian
29 Apr Boeing and GE stare down an aerospace apocalypse Bloomberg Opinion
29 Apr Boeing will cut more than 15% of jobs in commercial jet division, CEO Calhoun says Seattle Times
29 Apr Safran expects to build 1,000 CFM Leap engines this year Flight Global
29 Apr Airbus, a Jewel of the European Economy, Signals Distress New York Times
30 Apr How The Pentagon Is Reaching Small Suppliers Aviation Week
30 Apr Pandemic Fallout Prompts Bleak Outlook For Civil Engine Market Aviation Week
1 May How Much Commercial Aerospace Supply Chain Consolidation Is Likely? Aviation Week
1 May Aerospace Industry Reshaping Begins To Deal With COVID-19 Effects Aviation Week
1 May Safran keeps close watch on supply chain for signs of coronavirus stress Flight Global
2 May Rolls-Royce to cut up to 8,000 jobs as aviation crisis bites FT
2 May Hundreds of Quebec aerospace workers to be laid off at Airbus and Pratt & Whitney The Canadian Press
2 May UK wants to support strategic aviation sector in any way it can – minister Reuters
3 May BAE chief on defence spending post-pandemic: ‘We’ve got to demonstrate what we do is good for the economy’ Telegraph
4 May Air Canada expects recovery to take three years Cirium
4 May Germany’s Airbus suppliers ‘face ruin’, warns trade association Flight Global
4 May GE Aviation expands job cuts to 25% of global workforce Flight Global
5 May French aerospace suppliers need billions in fresh capital Reuters
5 May Talks sought over Rolls-Royce jobs cuts fears Insider Media
5 May French Lobbying Group Calls For Supply Chain Support Aviation Week
5 May Héroux-Devtek Lays Off 10% Of Workers, Closes Alta Precision Plant Aviation Week
5 May TransDigm To Lay Off Up To 25% Of Workforce Aviation Week
6 May Government holding talks with Rolls-Royce amid fears over job losses Derby Telegraph
6 May Rolls-Royce union rep says coronavirus impact 'worse than 9/11' Nottingham Post
6 May U.S. aerospace industry wants Congress to consider new assistance Reuters
We are working at pace on a five-point rescue and recovery plan, based on insight gathered through the strong connections we have across the aerospace industry in our region, nationally and internationally, and with government at all levels. Through research and consultation with industry experts, we have established five pillars that will enable supply chain companies in our region to get through the downturn and recover as soon as possible. Read about the five pillars and how you can input into the plan here.