INTL FERRO-ALLOYS CONF: Aerospace recovery expected to start in 2022

The global aerospace industry was predicted to begin to recover in 2022 after air travel volumes slumped this year because of the outbreak of Covid-19, panelists said during Fastmarkets' International Ferro-Alloys Conference.

A combination of government stimulus, a return of domestic air travel, a backlog of aircraft orders and the potential discovery of a widely accessible vaccine could all help bring forward the recovery of the civilian aerospace industry, delegates heard in the online event, being held November 9-11.
On the emergence of Covid-19, international air travel decreased by 75% almost overnight, with long-haul flight traffic falling by 90%, according to Michael Husakiewicz, director at minor metals trading house Lipmann Walton.
International air travel was now back to 60-70% of pre-Covid-19 levels, which would help to buoy sentiment, Husakiewicz said. But what would help to maintain the demand levels for metals was the backlog of aircraft orders, which would take Airbus and Boeing 4-5 years to clear when working at full capacity.

Many airlines have canceled or delayed orders for new aircraft, and both the aircraft makers have cut output in response...

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