Maintenance Staff Shortage Could Clip Aviation Industry's Wings

The world's commercial aircraft fleet is set to balloon by a third by 2034, according to Oliver Wyman. Charly TRIBALLEAU / AFP/File
The world's commercial aircraft fleet is set to balloon by a third by 2034, according to Oliver Wyman. Charly TRIBALLEAU / AFP/File
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Maintenance Staff Shortage Could Clip Aviation Industry's Wings

The world's commercial aircraft fleet is set to balloon by a third by 2034, according to Oliver Wyman. Charly TRIBALLEAU / AFP/File
The world's commercial aircraft fleet is set to balloon by a third by 2034, according to Oliver Wyman. Charly TRIBALLEAU / AFP/File

The United States is grappling with a shortage of maintenance workers in the aviation industry, with baby boomers retiring and others changing jobs during the pandemic.
This comes as the global fleet of commercial aircraft is set to balloon a third by 2034, involving more than 36,400 vessels, according to a recent study by consulting firm Oliver Wyman.
In its wake, spending in the maintenance, repair and overhaul market is projected to grow almost 20 percent by 2034, AFP said.
But the sector suffers from a shortfall of qualified manpower -- and an inadequate pipeline of talent.
It lacks some 24,000 aviation maintenance technicians in North America, a figure due to reach nearly 40,000 by 2028, Oliver Wyman notes.
This gap is not one that the renowned Aviation High School in Long Island will be able to fill with its cohorts totaling 2,000 students.
"I don't think the Aviation High Schools have enough capacity to train enough people," said Steven Jackson, principal of the Aviation High School in Long Island City.
"We are one of the largest high schools and it would be hard to scale it up further," he added.
Growth impact
The school is one of 28 certified by the US Federal Aviation Administration (FAA), and trains future aviation maintenance technicians who can either enter the workforce after high school or further their studies in universities.
"The job market is good and there is more money so, at the moment, more go straight to work than before," Jackson told AFP.
In the United States, around 4,000 maintenance, repair and overhaul companies employ some 185,000 aviation maintenance technicians and engineers. This forms around 44 percent of the global total, according to the Aeronautical Repair Station Association.
"Working as a mechanic opens so many opportunities," said Fariha Rahman, 17, speaking to AFP at a JetBlue maintenance hangar during a Career Discovery Week.
"I want to start in maintenance, and work my way up," the high school student added.
Another student, 15-year-old Gaby Moreno, added: "It's such a great industry."
"There are so many different jobs, so many benefits, and discounts for flights and other things, like insurance," she added.
AlixPartners specialist Pascal Fabre stresses that the training of maintenance technicians will need to be accelerated.
To boost the attractiveness of aviation maintenance, Congress passed legislation in 2018 enabling the FAA to provide ad hoc grants.
As a result, $13.5 million was awarded in March to 32 schools, 20 of which would especially help with training maintenance professionals.
"Because so many aviation jobs are critical to operations, any ongoing shortage can eventually result in the industry's growth being limited," Oliver Wyman noted in an earlier report.
Quality issues
In a 2023-2042 outlook, aviation giant Boeing forecasts "strong" long-term demand for newly qualified aviation personnel.
There is a need for some 690,000 new maintenance technicians to help maintain the global commercial fleet over the next 20 years, according to Boeing.
The maintenance, repair and overhaul sector is "under-capacity, and hangar maintenance slots are in high demand, especially as aircraft manufacturers' delivery delays mean that older aircrafts are being flown for longer periods, requiring more maintenance," Fabre added.
The two major aircraft manufacturers, Boeing and Airbus, are fully booked until almost the end of the decade, and are accumulating delays.
Meanwhile, airlines are stepping up orders as they seek to capitalize on strong demand from travelers and build fuel-efficient fleets.
"The pressure to produce and the retirement of many skilled baby boomers during COVID may also be contributing to some of the quality-control issues plaguing the industry," the recent Oliver Wyman report added.
According to experts, departures have led to the disruption of a transfer of know-how between experienced and new technicians.
Since 2023, Boeing has suffered production problems and numerous incidents on its 737 MAX series, which prompted the FAA to launch an audit into its quality control.
In early January, an Alaska Airlines 737 MAX 9 suffered a blowout of a door plug while in flight.
Boeing CEO Dave Calhoun recently announced that he would step down by year-end, in a leadership shakeup as the company faces heavy scrutiny.
Previously, two fatal 737 MAX crashes -- one in 2018 and one in 2019 -- led to a nearly two-year grounding of the aircraft.
Beyond manufacturers, United Airlines is also in the crosshairs of the FAA, which is reviewing its safety procedures after several recent incidents.



Argaam Warns Against Fraudulent Digital Currency Claims Using Its Name

 Argaam logo 
 Argaam logo 
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Argaam Warns Against Fraudulent Digital Currency Claims Using Its Name

 Argaam logo 
 Argaam logo 

Saudi financial information platform Argaam has issued a sharp warning after uncovering coordinated fraud attempts carried out through unofficial channels, exploiting its name and reputation in the Saudi market.

According to Argaam, the schemes seek to deceive the public by promoting false claims about digital currency launches and offering to double investors’ funds in return for dubious financial transfers.

In a statement, Argaam stressed that it does not issue digital currencies and never requests financial or digital transfers from individuals or entities.

It also confirmed that it does not collect personal or financial data nor offer investment invitations or proposals of any kind, emphasizing that all announcements and initiatives are communicated solely through its officially authorized channels within the Kingdom of Saudi Arabia.

Calling on the public to exercise caution and refrain from engaging with any unauthorized messages or entities, Argaam said it will take all necessary legal measures against anyone proven to have impersonated its name or exploited its trademark.

Such actions will be pursued in accordance with Saudi Arabia’s Anti-Cybercrime Law, Trademark Law, and other applicable regulations.

Argaam further affirmed that it reserves all its legal rights to pursue those involved before the competent authorities, and declared that it bears no responsibility for any transactions or damages resulting from dealings with such unofficial parties.

The warning comes at a time when Saudi regulations impose strict controls on digital currencies, which are not currently classified as legally recognized currencies within the Kingdom.

 

 

 

 


Libya to Sign 25-year Deal with TotalEnergies, ConocoPhillips to Bring over $20 Billion in Investment

TotalEnergies' results in the fourth quarter of 2025 bucked the downward trend among major oil companies (Reuters)
TotalEnergies' results in the fourth quarter of 2025 bucked the downward trend among major oil companies (Reuters)
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Libya to Sign 25-year Deal with TotalEnergies, ConocoPhillips to Bring over $20 Billion in Investment

TotalEnergies' results in the fourth quarter of 2025 bucked the downward trend among major oil companies (Reuters)
TotalEnergies' results in the fourth quarter of 2025 bucked the downward trend among major oil companies (Reuters)

Libya will sign a 25-year oil development agreement on Saturday with France's TotalEnergies and US-based ConocoPhillips, involving more than $20 billion in foreign-financed investment and aimed at boosting production capacity by up to 850,000 barrels per day, Prime Minister Abdulhamid al-Dbeibah ‌said.

Signed through ‌Waha Oil ‌Company, ⁠a subsidiary ‌of Libya's state-run National Oil Corporation, the deal is expected to generate net revenues of more than $376 billion, Dbeibah said in a post on X.

Dbeibah said ⁠that Libya will also sign a ‌memorandum of understanding with ‍US oil ‍major Chevron and a cooperation agreement ‍with Egypt's oil ministry, reported Reuters.

Libya is one of Africa's biggest oil producers, but output has been disrupted repeatedly in the chaotic decade since 2014, when the country ⁠split between rival authorities in the east and west following the NATO-backed uprising that toppled Muammar Gaddafi.

The agreements reflect "the strengthening of Libya's relations with its largest and most influential international partners in the global energy sector ... ultimately generating additional resources ‌for the national economy," Dbeibah said.


Wall Street Intends to Stay Open around the Clock

Futures-options traders work on the floor at the New York Stock Exchange's NYSE American (AMEX) in New York City, US, January 21, 2026. REUTERS/Brendan McDermid
Futures-options traders work on the floor at the New York Stock Exchange's NYSE American (AMEX) in New York City, US, January 21, 2026. REUTERS/Brendan McDermid
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Wall Street Intends to Stay Open around the Clock

Futures-options traders work on the floor at the New York Stock Exchange's NYSE American (AMEX) in New York City, US, January 21, 2026. REUTERS/Brendan McDermid
Futures-options traders work on the floor at the New York Stock Exchange's NYSE American (AMEX) in New York City, US, January 21, 2026. REUTERS/Brendan McDermid

The closing and opening bells of the New York Stock Exchange (NYSE) may become a ringing ritual of yesteryear, as the market moves toward nonstop trading.

This week, the Intercontinental Exchange announced it is developing a platform for 24/7 operations that offers "instant settlement."

The around-the-clock operations would rely on digital tokens mirroring the shares of listed companies, the NYSE's parent company said in a statement.

NASDAQ, another New York-based trading exchange, could follow suit as early as this year, said AFP.

The move is pending approval by federal regulators at the US Securities and Exchange Commission (SEC), and would amount to a minor revolution for the way money moves in US stock markets.

- 'Waste of time' -

In the early days of the exchange, investors had to be physically present in markets on Wall Street to "stand and yell at each other and wave pieces of paper, and then they would have to write down what everybody bought and sold," Sam Burns, chief strategist at Mill Street Research, told AFP.

That meant "having trading go on all day every day would sort of be impossible to keep up with," Burns said.

Digitized transactions can change all that.

Off-hours trading has already been on the rise since 2019, exploding since 2024 when the daily average topped $61 billion, according to a NYSE report in early 2025.

But the appeal remains limited, according to Steve Hanke, a professor of applied economics at Johns Hopkins University.

"Historically, there is little evidence that supports the idea that the benefits of 24-hour trading outweigh the costs," he said, adding that there "are few market-moving events that occur outside of normal business hours in New York City."

"Night trading proved to be a waste of time," he said.

Hanke said the real advantage in the NYSE's announcement lies in the time needed to finalize a trade -- a process that usually occurs the next day in most stock markets.

"Narrowing the settlement window may prove to be a significant competitive advantage," Hanke said.

- Attracting the young and foreigners -

As host to immense market caps, the US market remains the largest in the world, but competition is growing.

Last year, many European indexes generated returns that outpaced their US counterparts.

With extended hours, Wall Street may be able to attract smaller investors and those outside the Americas.

Nearly 18 percent of US shares belonged to non-US holders in 2024, according to the US Treasury's most recent available figures.

And fans of cryptocurrency trading may jump into stocks, said Burns, the Mill Street Research strategist.

"A lot of retail investors nowadays, particularly younger ones, seem to like the idea of being able to trade stocks all the time the way they do cryptocurrencies and other digital assets, whether it's nights or weekends," Burns said.

It is unlikely that the change would move traditional investors from banker's hours because the impacts of any change are likely to be limited," Burns added.

"Most institutional investors that trade the real money aren't really interested in working or trading on the weekends, and the fact (is) that banks are mostly still closed on the weekends," Burns said.