Not looking good.....
https://www.newsmax.com/us/airlines-layoffs/2020/09/30/id/989736/
If the planes aren't flying, they don't need services, parts, or engines. GE has been making parts that they don't have orders for to stock the shelves so to speak. I think there are going to be a huge layoff across the board. They have been getting rid of pensioners, and this will k–l it for sure. They will layoff, and when the time comes, they will call back the people not up to rate. Rates will change, lower rates for skilled jobs. The big boys will not miss a dime out of their checks. This isn't going to recover for years. When GE had Transportation, back in the 90's, the locomotives were not doing well, so they layed off, then brought people back as needed for orders. 3 months, then back out for 6, then back for a few more. I see Aviation doing the same thing. Remember, the EBs of transportation then are the same EBs in Aviation now. May as well plan on putting GE in the rearview mirror folks.
4 replies (most recent on top)
"The commercial aircraft leasing market is set for considerable turmoil in 2021 with over 1,000 aircraft set to be returned to lessors without clear options for onward placement."
https://www.iba.aero/news/over-1000-aircraft-set-to-return-to-lessors-in-2021-without-new-homes-says-iba/
https://aviationweek.com/air-transport/aircraft-propulsion/analysis-shows-13-stored-max-fleet-has-no-customers
Threatening layoffs? Are you serious! Well if it will pick up....Folks will be laid off until it does. Bailouts?....Please!!!
They are just trying to get bailouts by threatening layoffs. This market can pick up just as fast as it crashed.