JetNet Summit Panel Still Sees Labor, Supply Chain Headwinds | Aviation International News

Training and Workforce

JetNet Summit Panel Still Sees Labor, Supply Chain Headwinds

While the supply chain snags could abate, labor will remain a crucial issue

Supply chain panel at 2024 JetNet iQ Summit — (l-r) Ford von Weise (most recently Citibank's director of global aircraft finance) moderated a panel on business aviation industry issues last week at the annual JetNet iQ Summit. Among the topics discussed were the continuing supply chain crunches and labor issues. Panelists included Laurence Vigeant-Langlois, managing director at AE Industrial Partners; Ron Epstein, managing director of aerospace and defense equity research with Bank of America Merrill Lynch; Jo Damato, NBAA's s-v-p for education, training, and workforce development; and Frank Moesta, Rolls-Royce Deutschland s-v-p for strategy & future programs. © Curt Epstein/AIN

By Curt Epstein • Business Aviation Services Editor

October 2, 2024

The supply chain and labor issues are keeping aircraft production levels in check, according to Ron Epstein, a managing director with Bank of America Merrill Lynch Global Research. Speaking in a panel last week at the JetNet iQ summit in New York City, he noted that the situation is not just limited to business aviation. “It’s not just this industry; the entire aerospace and defense industry is constrained,” he said. “You have an industry that is constrained from a labor point of view and you’ve got multiple constraints in the supply chain, so I guess the good news is nobody can overproduce.”

Epstein added that the paradigm is leading to stability in pricing since manufacturers don’t have to worry about one rogue airframer being able to step up production and lower prices. He believes that as a result, the OEMs are currently underproducing versus demand, which is also helping buoy prices.

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