Aircraft manufacturers respond with bold steps
With thousands of aircraft grounded due to a 90% reduction in air travel, the shockwaves are now coursing through the aerospace industry.
Aircraft manufacturers are announcing closures to key facilities, the suspension of some programmes and build rate reductions of up to 30 - 40% to others.
This is already having an impact on the aerospace supply chain which is geared up for higher production rates. They are having to drastically revise their plans and are doing everything to ensure they survive one of the toughest market downturns in decades.
8 Apr Coronavirus Crisis Could Cull 25m Aviation-Related Jobs Worldwide Engineering And Technology
8 Apr Spirit Aero Halts Work For Boeing, Furloughs Workers, Warns Of More Aviation Week
8 Apr Rolls-Royce To Restart Production, New Employee Relations Derby Evening Telegraph
8 Apr Airbus Cuts Production Rates By 1/3 Financial Times
10 Apr Coronavirus: Some Tri-State Essential Workers Worry Their [GE Aviation] Jobs Are Putting Them In Danger Evansville Courier And Press
10 Apr Smaller Narrowbodies May Benefit As Airlines Readjust Networks Aviation Week
10 Apr UK Aviation Sector Renews Plea For Government Aid Sky News
10 Apr Boeing To Restart Limited Local Work On Jets As Early As Monday The Seattle Times
10 Apr Air UK Industry Bodies Call For UK Government Support BBC
12 Apr Boeing Enlists Banks To Advise On Possible US Support Le Journal De l’Aviation
12 Apr Boeing’s Problems Predate The Virus. Should The U.S. Come To Its Rescue? New York Times
13 Apr First Came The 737 Max Crisis, Then Coronavirus. Can David Calhoun Save Boeing? Washington Post
13 Apr Embraer Strikes Deal On Furloughs, Job Protections AIN Online
13 Apr Triumph Group Widens COVID-19 Layoffs, Furloughs Aviation Week
13 Apr Aero Supplier Woodward Cuts 15% Of Workforce, Furloughs More Aviation Week
14 Apr GE [Wall Street] Bear Calls Stock A Trap A Month After Conceding 'We Were Wrong' Investor’s Business Daily
14 Apr Boeing Customers Cancel Staggering 150 Max Plane Orders, Deepening Crisis As Coronavirus Roils Air Travel CNBC
14 Apr MTU Restarts Production Le Journal De l’Aviation
14 Apr Raytheon Technologies Announcement To All Staff About Salary Reductions And Furloughs Milaero Website
15 Apr Industry Downturn Raises New Doubts About Boeing’s NMA: Analysts Flight Global
16 Apr Boeing Will Resume Work In Phases Next Week, Including A Restart Of 737 MAX Production Preparations Seattle Times
16 Apr How Coming Wave Of Aircraft Retirements Will Reshape Aviation Aviation Week
17 Apr Boeing Expected To Follow Airbus Production Cuts Aviation Week
Despite all this news, there are still many unknowns. The management of the crisis remains a fluid process but, as we’re likely to expect slimmed-down delivery rates for at least the next two to three years, aerospace companies also need to be planning for longer-term economic recovery.
We’re already working on a five-point plan to guide the aerospace industry through economic recovery and to help us lobby for the support companies are likely to need. We’ll share details as this develops.