Spirit AeroSystems, its diversification efforts struggling as two major acquisitions remain in limbo, announced a smaller move to bolster its strategy via an aftermarket support partnership with Evergreen Aviation Technologies Corp. (EGAT).
Despite numerous studies and reports on the cleanliness of passenger aircraft and the low risk of infection while aboard, the implementation of tangible and visible measures is key to building passenger confidence.
It could be more than five years before engine shop visits return to pre-pandemic levels, but recovery could be quicker for higher-efficiency and cargo aircraft platforms.
Aircraft engines MRO providers are forecasted to lose $1.5 billion in revenue as airlines turn to green time engines from parked aircraft amid the pandemic to preserve cash.
The sweeping measures taken by the Chinese central government to tackle the COVID-19 outbreak have softened the impact felt by MRO provider Guangzhou Aircraft Maintenance Engineering Company (GAMECO) but such market conditions are difficult to find elsewhere.
Startups chosen for the program will be able to work with Singapore Airlines Group and SIA Engineering Company to solve aviation and MRO industry challenges.