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.



SME Bank Signs 19 Agreements Worth over SAR3 Billion to Strengthen Finance, Development

The memoranda of understanding aim to establish a unified development-finance model that serves small and medium enterprises (SMEs) across various economic sectors - SPA
The memoranda of understanding aim to establish a unified development-finance model that serves small and medium enterprises (SMEs) across various economic sectors - SPA
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SME Bank Signs 19 Agreements Worth over SAR3 Billion to Strengthen Finance, Development

The memoranda of understanding aim to establish a unified development-finance model that serves small and medium enterprises (SMEs) across various economic sectors - SPA
The memoranda of understanding aim to establish a unified development-finance model that serves small and medium enterprises (SMEs) across various economic sectors - SPA

The Small and Medium Enterprises Bank (SME Bank) signed 19 cooperation agreements and memoranda of understanding with entities from both the public and private sectors, with a total value exceeding SAR3 billion, in support of the development finance ecosystem and the empowerment of enterprises as part of the Development Finance Conference MOMENTUM 2025, SPA reported.

The memoranda of understanding aim to establish a unified development-finance model that serves small and medium enterprises (SMEs) across various economic sectors and enhances integration among development entities under the National Development Fund ecosystem, thereby contributing to improving financing efficiency and expanding SMEs’ access to sustainable financing solutions.

The cooperation agreements come as an extension of the bank's commitment to expanding the range of financing options through strategic partnerships that support growth and sustainability, enable entrepreneurs to scale their businesses, and strengthen the role of the private sector in supporting the national economy and increasing its contribution to gross domestic product (GDP).


Saudi Arabia Seals 62 Market Access Deals Since Joining WTO

King Abdullah Financial District in Riyadh (Asharq Al-Awsat)
King Abdullah Financial District in Riyadh (Asharq Al-Awsat)
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Saudi Arabia Seals 62 Market Access Deals Since Joining WTO

King Abdullah Financial District in Riyadh (Asharq Al-Awsat)
King Abdullah Financial District in Riyadh (Asharq Al-Awsat)

Saudi Arabia has secured 62 market access deals in goods and services since joining the World Trade Organization, alongside 379 rounds of in person and virtual negotiations, and 42 laws and regulations enacted to fulfill its pre-accession commitments, the General Authority for Foreign Trade said in a report.

The kingdom became the WTO’s 149th member in December 2005 after 12 years of talks, a milestone that reshaped Saudi Arabia’s trade landscape and pushed it toward deeper global integration.

Accession paved the way for foreign investment, expanded non oil exports, strengthened the commercial ecosystem and enhanced transparency and international dispute settlement in line with WTO rules.

This month marks two decades since Saudi Arabia entered the global trade body, a period defined by sweeping reforms, expanding partnerships and a more assertive Saudi presence in international commerce.

Decision making role

Over the past 20 years, Saudi Arabia has steadily grown its influence within the WTO, moving from a new entrant to an active participant in global rulemaking.

Riyadh continues to overhaul its commercial framework to stimulate economic activity.

Key changes include the Commercial Register Law, the Trade Names Law, amendments to the Precious Metals and Gemstones Law, and updated executive regulations governing private laboratories.

The new Commercial Register and Trade Names laws aim to streamline business operations and ease regulatory burdens by consolidating company documentation into a single nationwide register and tightening procedures for reserving and protecting trade names.

Both laws align with Saudi Arabia’s accelerating economic and digital transformation under Vision 2030.

The Commercial Register Law, which comprises 29 articles, improves the ease of doing business by regulating registration procedures, ensuring data accuracy, mandating regular updates and making information readily accessible to investors and regulators.

Commercial register

The revamped system introduces a centralized electronic database that records traders’ names and key information, and sets out clearly defined responsibilities and procedures for registration.

It simplifies commercial activity by abolishing branch level records for firms and establishments. Instead, each entity will operate under one unified commercial register covering all activities nationwide, a shift expected to reduce costs and administrative burdens.

The law grants companies and sole proprietorships a five year transition period to settle existing branch records. Options include transferring a sole proprietorship’s branch record to another party as a main record, converting a branch record into a standalone company, or canceling the branch record and moving its assets and activities to the main register.

The legislation also obliges businesses to open bank accounts directly linked to their commercial entities to bolster credibility and ensure the integrity of financial transactions.

It eliminates the requirement to renew commercial registers and removes expiry dates altogether. Instead, businesses must complete an annual electronic confirmation of their data. Registers are suspended after a three month delay and deleted automatically after one year of suspension.

The law also introduces alternative enforcement tools that emphasize compliance over punitive action, including formal warnings and compulsory correction of violations.


Gold Climbs to Over One-month High after Fed Rate Cut; Silver Hits Fresh Record

NEW YORK, NEW YORK - DECEMBER 08: Silver jewelry is displayed in the Manhattan Jewelry district on December 9, 2025, in New York City. Spencer Platt/Getty Images/AFP
NEW YORK, NEW YORK - DECEMBER 08: Silver jewelry is displayed in the Manhattan Jewelry district on December 9, 2025, in New York City. Spencer Platt/Getty Images/AFP
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Gold Climbs to Over One-month High after Fed Rate Cut; Silver Hits Fresh Record

NEW YORK, NEW YORK - DECEMBER 08: Silver jewelry is displayed in the Manhattan Jewelry district on December 9, 2025, in New York City. Spencer Platt/Getty Images/AFP
NEW YORK, NEW YORK - DECEMBER 08: Silver jewelry is displayed in the Manhattan Jewelry district on December 9, 2025, in New York City. Spencer Platt/Getty Images/AFP

Gold rose on Thursday to hit its highest level in more than a month after the US Federal Reserve's quarter-point rate cut pushed the dollar lower, while silver surged to a fresh record high.

Spot gold was up 1.2% at $4,275.39 per ounce, as of 11:49 a.m. ET (16:49 GMT), reaching its highest level since October 21. US gold futures for February delivery gained 1.9% to $4,303.90 per ounce.

Spot silver added 3.2% to $63.77 per ounce, hovering near the session’s record high of $63.93, Reuters reported.

"Silver seems to be pulling gold up with it and it's also pulling up platinum and palladium...there's a lot of momentum behind it right now," said Marex analyst Edward Meir.

The US dollar slipped to over seven-week low against a basket of rival currencies, making greenback-priced gold more affordable for overseas buyers.

"Inflation hasn't really come back down to the Fed's 2% target, so, when you're lowering rates in an inflationary environment that is still not optimum, and that's very bullish for gold," Meir added.

The Federal Reserve on Wednesday delivered its third consecutive quarter-point cut, while policymakers also signaled a likely pause in further reductions as they monitor labor market trends and inflation that "remains somewhat elevated.”

Lower interest rates tend to be favorable to gold, as it is a non-yielding asset.

US President Donald Trump has advocated for lower interest rates since the start of his second term in January, and his nominee for the next Federal Reserve chair is expected to maintain that stance. White House economic adviser Kevin Hassett is currently viewed as the leading candidate for the position.

Investors now await the monthly US non-farm payrolls report, set to be released on December 16, for fresh cues on the Fed's policy path.

Meanwhile, India's pension regulator on Wednesday permitted investments in gold and silver ETFs for the country's pension funds.

Elsewhere, platinum gained 2.5% to $1,698.10, while palladium rose 1.3% to $1,494.88.