search.noResults

search.searching

dataCollection.invalidEmail
note.createNoteMessage

search.noResults

search.searching

orderForm.title

orderForm.productCode
orderForm.description
orderForm.quantity
orderForm.itemPrice
orderForm.price
orderForm.totalPrice
orderForm.deliveryDetails.billingAddress
orderForm.deliveryDetails.deliveryAddress
orderForm.noItems
Indirectly, the biggest impact has been in the oil & gas segment due to


the collapse in oil price per barrel.” from the $60s to the $20s,”


The Big Picture


Before delving into the individual impacts of COVID-19, it’s wise to put the pandemic into a macro context. How is the state of the world economy – both due to the pandemic and other forces – affecting the world helicopter industry?


It depends on which part of the economy you focus on. “Indirectly, the biggest impact has been in the oil & gas segment due to the collapse in oil price per barrel from the $60s to the $20s,” says Brian Foley, founder of aerospace consultancy Brian Foley Associates. “This in turn has dried up offshore services and equipment demand, parking helicopters and further pressuring operators and lessors. It’s likely there could be a second round of restructurings later this year.


“Utility usage is also down but to a lesser extent,” Foley continued. “Corporate is generally paused for the moment, but should gradually recover as lockdowns end and people begin to move about. Given their recession-proof missions, search & rescue,


EMS, news gathering, and law have been generally unaffected. Aside from offshore – which now may have entities entering bankruptcy a second time – most other segments of the civil industry still have access to credit markets, assuming they are good credit risks.”


As for new helicopter orders? With the exception of the oil & gas segment and its dwindled demand for larger rotorcraft – which was depressed long before COVID-19 arrived – the rest of the helicopter sales market is holding up. “This market is driven by traditional business aircraft indicators such as corporate profits and the equities indices,” says Richard Aboulafia, vice president of analysis at Teal Group, a provider of aerospace and defense market intelligence. “And until those get hit, people have generally been saying, ‘Things are fine; no cancellations.’ So right now sales are not being significantly affected by COVID-19. The question is: what will things be like six months from now?”


64


July/Aug 2020


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83