airtourer VH-MUF for sale

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Global economic crisis (GeC)

The Global Economic Crisis is hitting the aircraft industry as well as most other industries. To date the impacts have been “industry shrinkage”:

8/7/09 - Qantas hints at cuts to flight capacity


Qantas Airways Ltd may cut its international flight capacity amid increased competition, its chairman hinted at a forum in Perth.Chairman Leigh Clifford said airlines were being increasingly challenged by tough economic times, with Qantas noting a downturn in premium travellers."Management at Qantas ... they've taken off capacity ... some domestic capacity, but also internationally where we've been particularly hard hit," Mr Clifford said."There is capacity growing in a number of key international routes which we fly and you have to say `is there a growth in demand?'."And I'm saying the growth in demand doesn't reflect the increase in capacity."Mr Clifford said cut-price airfares were not sustainable in the long term."Grab them while they last", he said.

14/4/09 - Qantas to shed 1750 jobs, including 500 management positions, and reduce fleet by 10 planes

· Price war (lowering of commercial airfares), both domestic and international by Qantas, Virgin Blue, REX, and Jetstar. This is accompanied by saturation advertising.

· A reduction in the number of small operators.

· Small operators Liquidating, e.g. Air Diamond Pty Ltd

· Cost increase for aircraft parts, ostensibly caused by an adverse exchange rate.

· Reduction in sales of used aircraft.

· More used aircraft entering the market, or just left sitting in hangers with an expired Maintenance Release.

· More used aircraft “parting-out”.

· An expectation that regional airservices and small operators in WA, NSW, and VIC will see a significant business downturn due to the downturn within the mining industry.

· Reduction in the number of services on some routes by the major commercial airlines.

· A significant downturn in business air travel (usually at the top of the list when cost cutting exercises are undertaken by business)

CASA have expressed concern that the GEC will cause aircraft owners and operators to skimp on maintenance and therefore adversely effect themselves, their customers, and their services. This potential compromise remains to be seen. The dire impacts of drastic cost cutting actions will  not be seen for at least 12 months. Statutory recovery programs will be instigated at that time, however, by then it will be too late. All aircraft owners and operators must now and continually, hold safety maintenance programs as a mandated requirement otherwise accident/incident statistics (people/aircraft damage) will rise. 

The correct and continued application of disciplined quality and safety systems throughout the industry accompanied by a continuous improvement plan and philosophy will keep the industry safe, and improve the bottom line.

Impact on the aircraft industry

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