Dubai Air Show 2021: Future of travel

Transcript

00:00I genuinely believe that the last 18 months has proven the value of aerospace to the world

00:09and what we bring to society in terms of a force for good.

00:15What we can see now is some of the biggest domestic markets for air travel

00:20really recovering very well, starting with the largest ones,

00:25but we're still lagging behind with respect to international traffic

00:30and we need that for globalisation, we need that for multilateralism and the growth of prosperity.

00:39From our point of view we specialise in aircraft maintenance

00:43and that's going to be very interesting over the next couple of years

00:46as the maintenance portfolio changes for airlines.

00:49So unfortunately a lot of the older aircraft will go out of the fleets,

00:53they'll be replaced with newer aircraft, which will cause specific issues for us as a maintenance company.

00:59We have to then keep pace with that transition

01:02and make sure that our capability keeps pace with the airline's fleets.

01:06We believe that our market is very resilient

01:09and that it will eventually get back to the levels that were experienced pre-COVID.

01:15Of course the recovery starts with the smaller aircraft

01:18where domestic and regional travel starts to recover first

01:22and then we'll get into more international travel.

01:27Right now we're seeing that happen in different spots across the globe

01:32and here in the Middle East, if we look back to September,

01:36the data that we have from September,

01:38it's shown that airline operations is back to about 70% of pre-COVID levels,

01:46which is a good sign and again an indication that the industry is back on track

01:50and we're very excited for the future,

01:54the future that we cooperate and partner with our airline customers

01:58and continue supporting their growth with the vast suite of airplane products that we offer through our family line.