There is no trace left of the industry, which made aggressive growth plans, went on strikes, celebrated new aircraft orders, and enjoyed low oil prices until early last year. The 18-months world-fleet grounding wave continues to cripple different side sectors.
The industry is currently full of aircraft that are intended to be delivered early, disposed and parted out years in advance of normal end of life. Some airlines were and are looking for ways to get rid of planes in their inventory, others are trying to renegotiate lease rates to keep aircraft parked to save some cash flow by avoiding costly maintenance checks and return to service procedures. Lessors are looking for ways to protect their assets’ market value.
It's really hard to work in an environment where everyone is thoughtful and nervous. It's more important than ever for consultants to maintain balance with an independent stance. We are obliged to ensure the security of the rights and property of asset owners while sharing and helping the airline's pain and fuss. Apart from the technical and commercial knowledge, the consultants have become mediators who protect the interests of both sides (e.g. airlines and lessors).
Half a year ago it was almost certain that this crisis will pass and aviation business will continue to strive with stock prices continuing their climb to all time highs. However, new strains of Covid19 significantly affect the industry and previous enthusiasm of short term covid start to cease, with projections of full recovery falling between 2023 and 2024.
From technical consultancy prospective it became more clear that communication and project management is a key. As right now it is important to motivate yourself and people you are working with remotely to meet the deadlines and provide good quality end product. An aircraft that is delivered, redelivered, repossessed, parted out, sold is not the final project of any party. It is necessary to complete the projects without forgetting sensitivity, professionalism and mutual obligations. In this truly global crisis, every party has to sacrifice without exception, in order to find a balance and common grounds.
To manage this balance, it is necessary to know the requirements of asset owners and capabilities of airlines in conjunction with industry standard practises. Today's conditions make it necessary to work with competent and experienced consultants who are flexible, honest, hardworking with good time management skills and vaccinated – as sooner or later this will become an important requirement as consultants should be on the go and travelling significant amount of time.
We wish all the best to our colleagues and all involved in aviation sector. What does not kill us will make us stronger!