This is not the first time…and most likely it will not be the last time the aviation industry has to pull itself up by the boot straps and prevail. But, make no mistake about it, we will prevail.
Not long ago, the biggest concern facing commercial aviation was whether Airbus and Boeing could produce enough aircraft to keep up with demand.
However, after an unprecedented run of what seemed to be an unparalleled and unstoppable success, aviation and aerospace have flown into a perfect storm. Since the global pandemic has emerged, we have seen new rounds of fleet groundings, layoffs and order deferrals or cancellations.
But amidst the fear and panic, we need to take a deep breath and remember that this industry has survived many big challenges: oil price spikes; the Sept. 11, 2001, terrorist attacks; and the 2008-09 global financial meltdown. Every single time, aviation has recovered and grown stronger, resuming its long-held trend of improving faster than global economic growth.
Of course, there are lessons to be learned from this crisis, and a return to business as usual simply will not suffice. Many companies will be looking to cut costs.
For example, numerous aircrafts are being stored, due to lack of people traveling. Former Delta Air Lines exec and now IATA head of operational cost management Chris Markou said in the Cirium webinar that OEMs have been working with airlines to find efficient ways of doing maintenance on grounded jets, keeping them safe while saving man-hours. “They are addressing calendar-time tasks and looking for opportunities to combine tasks.”
Other ways businesses are cutting costs is by looking at processes they have in-house; how they are buying, selling and even listing aviation parts. Would you believe that the price comparison on companies that offer this service is astronomical. Probably a good time to do some research to save your company money as subscriptions to these types of membership services can cost tens of thousands of dollars. THAT’S A LOT!
So, as we go through this as an industry together, we must realize that this is not about politics or competitive edge. It is about helping our essential industry survive this tragedy.
Let’s remember in a world of uncertainty, one thing is certain… We will soar again! PartsBase will continue to provide cost effective technology supply chain solutions to support your business.