Publication
Restructuring in the aviation sector: what does the future hold?
Synopsis
The aviation industry in the UK is both highly valuable and highly fragmented. Civil aviation alone has a total turnover of £34 billion, with defence adding a further £24 billion. These two sectors directly employ around 250,000 people, and a large proportion of the workforce is employed by SMEs, including parts manufacturers, engineers and those providing overhaul and maintenance services. The sector is no stranger to challenges, but the pandemic is unlike any event experienced before. The sheer speed of the cessation of around 80 per cent of global civil air travel at the start of the pandemic has tested all businesses in the industry, regardless of size. Here, we explore the specific challenges the industry is facing, and immediate and long-term priorities for businesses operating in the space.
Andrew Sheridan Partner Restructuring Advisory Bristol +44(0)117 203 3670 andrew.sheridan@frpadvisory.com
Phil Armstrong Partner Restructuring Advisory London +44(0)20 3005 4269 phil.armstrong@frpadvisory.com
frpadvisory.com
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