GE Aviation will lay off as much as 25% of its workforce this year, including the voluntary and involuntary cuts it’s already taken, because of a downturn in its commercial aviation business.
Bombardier saw a $600-800 million impact on cashflow in the first quarter due to the COVID-19 crisis and projects a similar impact in the second quarter, during which it expects business activity to hit a low point before beginning to recover.
Gurit, a Swiss-based provider of prepreg composite materials for aerospace, announced April 23 that its longtime CEO Rudolf Hadorn will step down at the end of March 2021 but could eventually become chairman of the board of directors.
Once COVID-19 infection and death rates decline and governments ease restrictions on movements, some experts are concerned that difficulties may arise at airports that specialize in business aircraft traffic.
The U.S. Transportation Department (DOT) announced emergency grants totaling $10 billion for hundreds of airports across all 50 states, with awards ranging in size from just $1,000 for the smallest airports to hundreds of millions of dollars for the largest.
Eurocontrol’s member states have agreed to let private jet operators and airlines defer the payment of up to €1.1 billion ($1.2 billion) in air traffic control fees in the coming months.
