Turkey Denies Involvement in Air India Dreamliner Maintenance After Crash

StandardAero Extends Engine Support Contract with Nok Air Amid Market Challenges StandardAero has renewed its longstanding maintenance, repair, and overhaul (MRO) contract with Nok Airlines Public Company (Nok Air), continuing its support for the airline’s CFM International CFM56-7B turbofan engines. These engines power Nok Air’s fleet of fourteen Boeing 737-800 aircraft, which serve routes across Thailand, Southeast Asia, East Asia, and South Asia. Navigating a Complex Market Environment The extension of this contract occurs amid tightening conditions in the midlife aircraft engine market, characterized by rising demand and persistent supply chain disruptions. These factors have intensified competition among MRO providers and extended overhaul turnaround times, underscoring the importance of dependable engine support for airlines. Industry analysts observe that such pressures are also influencing lease rates for midlife engines, as operators prioritize securing reliable maintenance arrangements. In response, competitors are enhancing their service portfolios and negotiating more favorable terms with engine manufacturers to sustain their market positions. As an authorized CFM56-7B MRO provider, StandardAero has already received two of Nok Air’s engines at its Winnipeg, Canada facility. The company’s relationship with Nok Air extends beyond the current contract, having previously supported the airline’s Pratt & Whitney Canada PW150A engines on its former Dash 8-400 turboprop fleet. Expanding Capabilities to Meet Growing Demand Mario Romano, StandardAero’s Airline Sales Director, emphasized the company’s dedication to delivering reliable and cost-effective engine support, which contributes to Nok Air’s reputation as a cheerful and dependable carrier throughout Asia. Since 2010, StandardAero has provided CFM56-7B support globally from its Winnipeg base and has recently expanded its operations to include a facility at Dallas/Fort Worth International Airport in Texas. This additional location enhances the company’s capacity to meet increasing demand for Boeing 737 Next Generation engine maintenance and offers customers the advantage of dual test cell availability. Beyond engine MRO, StandardAero offers a comprehensive range of aftermarket services for the CFM56 engine family, including component repair, asset management, and engine health monitoring. These services are designed to assist airlines in managing operational challenges and maintaining fleet reliability in a demanding market environment. Nok Air, positioned as a premium budget carrier, continues to prioritize high-quality and convenient services across its extensive domestic and international network, which includes routes to India and China. The renewed partnership with StandardAero is expected to bolster Nok Air’s operational resilience as it navigates a competitive and constrained engine support landscape.

EgyptAir Expands Fleet with Six Additional Airbus A350-900 Aircraft Airbus has confirmed that EgyptAir will acquire six more A350-900 widebody aircraft, further expanding the African carrier’s fleet as part of its ongoing growth and sustainability strategy. The announcement was made on the third day of the 2025 Paris Air Show, following advanced negotiations between EgyptAir and the European manufacturer. This new order builds upon the airline’s existing commitment to the A350 program, reinforcing a longstanding partnership between the two companies. Strengthening a Strategic Partnership EgyptAir currently operates a diverse fleet of Airbus narrowbody and widebody jets, and this latest acquisition will enhance its operational capabilities. Ahmed Adel, Chair and CEO of EgyptAir, underscored the importance of the deal, noting that the A350 will play a crucial role in supporting Egypt’s broader efforts to promote more sustainable air transport. He also highlighted the decades-long collaboration with Airbus, which has been marked by multiple successful agreements and strategic alliances. Benoît de Saint-Exupéry, Airbus’s Executive Vice President for Sales of Commercial Aircraft, echoed these sentiments, emphasizing the significance of the repeat order. He stated, “This is the second time EgyptAir has placed an order for the A350, and the decision is testament to the value the aircraft provides. The A350 is set to be a pillar in EgyptAir’s journey, and we look forward to these aircraft playing a pivotal role in the airline’s continued success, growth, and decarbonisation ambitions.” EgyptAir initially committed to the A350-900 in November 2023, placing an order for 10 aircraft during the Dubai Air Show. That initial purchase was viewed as a strategic move to unlock new long-haul routes, including services to the western United States. The airline also made headlines as the first African carrier to select Panasonic Avionics’ Astrova In-Flight Entertainment system for its A350s, featuring advanced amenities such as fast charging at every seat and larger screens for both economy and business class passengers. Navigating a Competitive and Challenging Market EgyptAir’s fleet expansion occurs amid a rapidly evolving and highly competitive aerospace market. The airline faces potential challenges in integrating the new aircraft due to ongoing supply chain disruptions, a lingering consequence of the post-Covid recovery that continues to affect aircraft deliveries worldwide. Market dynamics are also shifting as regional and global competitors make significant moves. Saudi Arabian start-up Riyadh Air recently placed a firm order for 25 A350-1000s, intensifying competition among carriers in the Middle East. Meanwhile, Boeing stands to benefit from China’s consideration of a major jet order, which could alter the competitive balance between the two aerospace giants. Additionally, leasing company AviLease’s agreement for 22 A350F cargo jets and up to 77 Airbus aircraft further underscores the fierce competition and strong demand within the sector. Despite these challenges, EgyptAir’s renewed investment in the A350-900 highlights its commitment to modernizing its fleet and advancing sustainability objectives, positioning the airline for continued growth in a dynamic global aviation landscape.

China’s Aviation Suppliers Seek Opportunities at Paris Air Show Expanding Presence Beyond Industry Giants China’s participation at the Paris Air Show, the world’s foremost civil aviation exhibition, has historically been dominated by major players such as the Commercial Aircraft Corporation of China (Comac), known for its C919 passenger jet. This year, however, marks a notable transformation. A significant number of smaller Chinese companies from across the aviation supply chain have converged in Paris, aiming to attract Western buyers and broaden their international reach. The aerospace industry association GIFAS, which organizes the biennial event, reports that the number of Chinese firms attending has surged from 29 in 2023 to 76 this year. This dramatic increase has led to the creation of an informal Chinese country pavilion for the first time, highlighting the sector’s expanding ambitions on the global stage. Challenges Amid Ambition and Market Conditions Many of these companies are making their debut at the Paris Air Show, driven by the need to counterbalance stagnating domestic profits amid a slowing Chinese economy and intense local competition. Wang Junbo, an assistant engineer at Baoti Huashen—a specialist in titanium sponge, a critical aerospace material—acknowledged the difficulties faced at home. “It’s a well-known fact that our domestic market suffers from excessive competition,” Wang said. “Our company is doing all right for now in terms of profit. I know some people that are doing a lot worse, but it’s important to always be prepared.” Despite their ambitions, Chinese suppliers confront a complex environment as they attempt to penetrate the European market. The global supply chain remains difficult to navigate, particularly given the lingering effects of trade tensions and tariffs introduced during the Trump administration. These challenges are further intensified by escalating geopolitical strains, which have heightened uncertainty throughout the industry. The atmosphere at the show has also been tempered by the recent Air India crash, which has cast a somber shadow over the event and renewed focus on aviation safety standards. This tragedy, combined with ongoing geopolitical uncertainties, has made Western buyers more cautious in engaging with new suppliers. Competitive Landscape and Technological Innovation Established competitors at the Paris Air Show are responding to these dynamics by emphasizing technological advancement and innovation. Textron’s Pipistrel is showcasing its multirole aircraft, while Liebherr is presenting its latest aircraft systems, underscoring the critical role of technological leadership in a rapidly evolving market. As Chinese firms strive to establish a foothold in Europe, they must navigate not only fierce competition and regulatory complexities but also a market environment shaped by recent tragedies and persistent political tensions. Their growing presence at the Paris Air Show reflects both their aspirations and the significant challenges they face within the global aviation industry.

AJet to Expand Fleet with 14 Airbus A321neo Aircraft Türkiye-based low-cost carrier AJet, a subsidiary of Turkish Airlines, has announced a significant fleet expansion through a leasing agreement for 14 Airbus A321neo aircraft. The deal, finalized with global aviation finance firms Avolon and Carlyle Aviation Partners, was revealed at the Paris Air Show and represents a key milestone in AJet’s ongoing strategy to modernize its fleet. Strategic Fleet Modernization and Sustainability Goals The new A321neo jets are scheduled to join AJet’s operations starting in 2026, reflecting the airline’s commitment to enhancing both sustainability and operational efficiency. At the signing ceremony, Ahmet Bolat, Chairman of Turkish Airlines and AJet, emphasized the strategic importance of the agreement, describing it as aligned with the airline’s long-term ambitions. Bolat stated, “This strategic move will improve our operational efficiency and enhance passenger satisfaction. As Turkish Airlines, we are committed to building a more accessible and competitive future alongside our subsidiaries.” The Airbus A321neo is widely recognized for its advanced fuel efficiency and environmentally friendly design, which supports AJet’s objective of providing greener air travel. Each aircraft can accommodate up to 244 passengers and offers a range of 7,400 kilometers (4,598 miles). Compared to earlier models, the A321neo delivers approximately 20% fuel savings, reduces carbon emissions by 20%, and cuts noise levels by 50%. These improvements are expected to significantly advance AJet’s sustainability targets while boosting operational performance. Market Challenges and Competitive Landscape Despite the benefits, integrating the new aircraft into AJet’s existing operations presents challenges. Securing favorable lease terms amid a competitive market and ensuring a smooth operational transition will be critical to the success of this expansion. The narrowbody aircraft segment is currently experiencing intensified competition, with carriers such as IndiGo and Gulf Air also expanding their Airbus fleets. Gulf Air recently signed a lease agreement with BOC Aviation, while IndiGo has announced plans to order 30 additional Airbus A350s to support its European growth strategy. Industry analysts suggest that these fleet developments may trigger further strategic responses among competitors, including accelerated modernization and capacity increases, as airlines strive to maintain or expand their market share. With the addition of the A321neo aircraft, AJet aims to strengthen its position as a leading carrier in the region, offering passengers a more efficient and environmentally conscious travel experience. This latest move highlights the intensifying competition among airlines to modernize fleets and meet evolving sustainability standards within the global aviation industry.

Dassault Aviation and Reliance Group to Manufacture Falcon 2000 Jets in India Dassault Aviation has entered into a landmark partnership with Reliance Infrastructure Ltd’s subsidiary, Reliance Aerostructure Limited (RAL), to manufacture Falcon 2000 LXS business jets in India for the global market. Announced at the Paris Air Show, this agreement marks the first occasion Dassault will produce Falcon 2000 jets outside France, positioning India as a strategic hub within the global aviation industry. Establishing a Centre of Excellence in India The new assembly line will be set up at Dassault Reliance Aerospace Limited (DRAL) in MIHAN, Nagpur, Maharashtra. This facility will become the first Centre of Excellence (CoE) for Falcon business jets outside France, supporting not only the Falcon 2000 but also future programs such as the Falcon 6X and Falcon 8X. Eric Trappier, Chairman and CEO of Dassault Aviation, highlighted the significance of the agreement, stating that it underscores the company’s commitment to the ‘Make in India’ initiative and reflects a strategic vision shared with Reliance. He emphasized that the development of DRAL is a testament to Dassault’s confidence in India’s role as a major partner in the global aerospace supply chain. Anil D. Ambani, Founder Chairman of Reliance Group, underscored the collaboration’s alignment with Prime Minister Narendra Modi’s vision of ‘Atmanirbhar Bharat’ (Self-Reliant India) and ‘Make in India for the World’. He described the partnership as a defining moment for India’s aviation industry and the Reliance Group, one that will help position the country as a key player in the global aerospace value chain. Advancing India’s Aerospace Manufacturing Capabilities The project involves transferring full fuselage and wing assembly operations to India, accompanied by significant upgrades to the DRAL facility. The first “Made in India” Falcon 2000 jet is expected to take flight from the Nagpur facility by 2028. This initiative not only enhances India’s aerospace manufacturing capabilities but also integrates the country more deeply into the global aviation supply chain. Despite the promising outlook, the initiative faces several challenges. Dassault Aviation and Reliance Group must navigate India’s complex regulatory environment, ensure efficient supply chain logistics, and adapt to local manufacturing standards. Overcoming these obstacles will be critical to achieving timely and efficient production. Market response to the announcement has been largely positive, with industry experts noting the potential for increased investment, job creation, and technology transfer. India’s emergence as a manufacturer of executive business jets places it alongside established producers such as the United States, France, Canada, and Brazil. The move is also expected to intensify competition among global aerospace firms seeking contracts in India, as the country’s defense and commercial aviation sectors continue to expand. With the transfer of key assembly operations and the establishment of a Centre of Excellence, the Dassault-Reliance partnership represents a significant advancement for India’s aerospace ambitions and its growing role in the global aviation industry.

Airbus Secures Orders for 132 Aircraft from Saudi Firms, LOT, and ANA on First Day of Paris Air Show Airbus announced on Monday that it has secured orders for 132 cargo and passenger aircraft on the opening day of the Paris Air Show, signaling a strong start to the aviation industry’s premier event. The orders were placed by a diverse group of international customers, including Saudi leasing company AviLease, which committed to 40 aircraft across various models with potential for future expansion. Riyadh Air followed with an order for 25 aircraft, while Polish carrier LOT and Japan’s ANA Holdings placed orders for 27 and 40 aircraft respectively. Market Strength and Production Challenges This surge in orders underscores Airbus’s sustained market strength but also highlights the company’s ongoing challenge to accelerate its production capabilities to meet rising demand. Managing delivery schedules for these substantial orders—particularly those from Riyadh Air, LOT Polish Airlines, and ANA Holdings—will be critical as the aviation sector continues to grapple with supply chain uncertainties. The ability to fulfill these commitments efficiently will be closely monitored by customers and industry analysts alike. Last week, Airbus revised its 20-year forecast for global aircraft demand upward by 2%, now projecting the delivery of 43,420 commercial aircraft between 2025 and 2044. As of the end of the first quarter of 2025, Airbus’s order book stood at 8,726 units, representing a 1.2% increase year-on-year and exceeding eleven times the company’s deliveries in 2024. The financial value of the latest contracts has not been disclosed. Delivery Targets and Financial Outlook In 2024, Airbus delivered 766 commercial aircraft and has set a target of 820 deliveries for the year. Looking ahead to 2025, the company forecasts an adjusted EBIT of €7 billion, up from €5.5 billion in 2024. Free cash flow before mergers and acquisitions and customer financing is expected to reach approximately €4.5 billion, compared to €3.5 billion in the previous year. The robust order activity is likely to bolster investor confidence in Airbus’s market position, potentially intensifying competitive pressure on rivals such as Boeing. In response, Boeing may accelerate its aircraft development and delivery timelines to regain market share and remain competitive amid Airbus’s growing dominance. While these new orders represent a significant commercial achievement for Airbus, the company’s capacity to deliver on its commitments amid ongoing supply chain challenges will remain under close scrutiny.

RTX Secures 1,100 Orders for GTF Engine, Advancing Aviation Efficiency Pratt & Whitney, a division of RTX (NYSE: RTX), has announced nearly 1,100 new orders and commitments for its Geared Turbofan (GTF) engine since the beginning of 2025. This latest surge brings the total number of GTF engine orders and commitments to over 12,000 from more than 90 customers worldwide. The announcement, made at the Paris Air Show, highlights the aviation sector’s sustained emphasis on fuel efficiency and environmental sustainability. Growing Demand and Industry Impact Among the airlines placing orders this year are Aegean Airlines, Air Niugini, ANA, Frontier Airlines, LOT Polish Airlines, and Wizz Air, along with two undisclosed customers. The GTF engine, specifically designed for single-aisle aircraft, is acclaimed for reducing fuel consumption by up to 20% and cutting noise footprints by 75% compared to previous-generation engines. To date, approximately 2,400 GTF-powered aircraft have been delivered to over 85 customers globally, underscoring the engine’s widespread adoption. Rick Deurloo, president of Commercial Engines at Pratt & Whitney, emphasized the robust market response, stating, “We continue to see strong demand for the GTF engine, as evidenced by the large number of orders we've received only halfway into the year. These orders demonstrate confidence in Pratt & Whitney and the value the GTF delivers to customers with its industry-leading fuel efficiency.” Future Developments and Industry Challenges Looking forward, Pratt & Whitney is preparing to launch the GTF Advantage engine, which received FAA type certification earlier this year and is scheduled to enter service in 2026. This new variant promises enhanced range, improved fuel efficiency, and greater durability. Additionally, the introduction of the GTF Hot Section Plus (HS+) option is expected to nearly double engine time on wing, addressing airlines’ demands for increased reliability and reduced maintenance costs. Despite these advancements, Pratt & Whitney faces the challenge of scaling production capacity to meet the growing order book while maintaining stringent standards of engine reliability and efficiency. Market confidence remains closely linked to the operational performance of the GTF engine, with airlines continuously evaluating their fleet strategies based on evolving data. Although the GTF remains a strong contender in the market, previous reliability concerns have prompted the company to accelerate innovation and respond proactively to customer feedback. Industry analysts anticipate that RTX’s competitors will intensify their development efforts in response to the GTF’s market momentum, potentially accelerating the introduction of next-generation propulsion technologies. This competitive environment is expected to drive further technological progress, benefiting airlines seeking to optimize operational costs and reduce environmental impact. Company Profile Founded in 1925, Pratt & Whitney is a global leader in aircraft engine design, manufacturing, and service, supporting more than 90,000 in-service engines through its extensive maintenance network. RTX, headquartered in Arlington, Virginia, is the world’s largest aerospace and defense company, with 2024 sales exceeding $80 billion and a workforce of over 185,000 employees.

Praful Patel Questions Singapore Airlines’ Response to Air India Crash Singapore Airlines’ Position Amidst Criticism Singapore Airlines (SIA) has affirmed its close collaboration with Tata Sons and Air India, offering full support following the Boeing 787 crash involving Air India flight AI171 in Ahmedabad last Thursday. The airline, which holds a 25.1% stake in Air India, issued this statement in response to public criticism from former civil aviation minister and Rajya Sabha MP Praful Patel. Patel expressed concern over what he described as a “surprising silence—or perhaps ignorance—about the role of a substantial shareholder, and the entity responsible for maintaining a large number, if not all, of Air India’s wide-body aircraft.” He further emphasized that Singapore Airlines, as a significant stakeholder with management influence and a codeshare agreement with Air India, should be more forthcoming. In reply, Singapore Airlines extended its deepest condolences to the families affected by the tragedy and reiterated its commitment to supporting Tata Sons and Air India during this difficult period. The airline emphasized ongoing communication and assistance efforts, underscoring its role as a partner in the aftermath of the accident. Implications for Air India’s Transformation and Industry Perception The crash occurs at a pivotal moment for Air India, which is in the midst of a comprehensive transformation under its Vihaan.AI program. This initiative aims to elevate Air India to the status of a “world-class global airline” within five years. However, the recent accident poses significant challenges to the airline’s reputation and operational momentum. Industry analysts warn that the incident may invite increased scrutiny from competitors and regulators, potentially affecting perceptions of safety and operational standards within India’s aviation sector. The event highlights the critical need for transparent communication and effective crisis management, especially for an airline undergoing substantial change. As Air India strives to rebuild its brand and operational integrity, the handling of this crisis will be closely monitored by regulators, passengers, and industry stakeholders alike. The Strategic Partnership Between Singapore Airlines and Air India Singapore Airlines’ partnership with Tata Sons dates back to the 2015 launch of Vistara, a joint venture that has since merged with Air India. Following this merger, Singapore Airlines became a significant minority shareholder in the unified carrier. The two airlines maintain extensive collaboration across commercial, engineering, and operational domains. Notably, Singapore Airlines CEO Goh Choon Phong serves on Air India’s board, and several former SIA executives are actively involved in Air India’s turnaround efforts. The aftermath of the crash is expected to test both Air India’s transformation strategy and the resilience of its partnerships. As the airline faces heightened scrutiny, it must work diligently to restore confidence among passengers and the broader public.

ECP to Launch Panhandle’s First Commercial Airplane Engine Maintenance Facility PANAMA CITY BEACH, Fla. — Northwest Florida Beaches International Airport (ECP) is poised to become the site of the Panhandle’s inaugural commercial airplane engine maintenance and testing facility, a development anticipated to generate over 500 well-paying jobs in the region. This milestone project, known as Project Spinner, represents a strategic partnership between ECP and IAG Aero Group, a global leader in aircraft engine services. A Strategic Investment in Local Aviation Infrastructure The new 120,000-square-foot facility is being developed with the support of a $25 million grant from Triumph Gulf Coast. It will enable the repair and testing of commercial aircraft engines locally, eliminating the current necessity of shipping engines out of state or overseas for maintenance. This capability is expected to streamline operations and reduce turnaround times significantly. Parker McClellan, Executive Director of ECP, highlighted the collaborative efforts behind the project, stating, “We’ve been working with Florida’s Great Northwest and the Bay Economic Development Alliance to bring Project Spinner to fruition. We’re creating jobs for the community, where engines will come in, be refurbished, and shipped back out.” The facility will simulate real-flight conditions to ensure engines meet rigorous standards before being reinstalled. Currently, many airlines must send engines as far as Paris for testing due to limited domestic capacity. Larry Serlo, Chief Commercial Officer for IAG Aero Group, described the new facility as a “dream” for the organization, emphasizing the operational efficiencies gained by having testing capabilities adjacent to repair operations. Economic Impact and Industry Challenges The establishment of this facility is expected to attract skilled mechanics and aviation maintenance professionals from across the region, offering some of the highest-paying jobs available at the airport. It marks a significant advancement in ECP’s ongoing expansion and its commitment to fostering high-quality employment opportunities in Bay County. Despite the promising outlook, the facility will enter a competitive market dominated by established players such as Hanwha Aviation, which has already expanded its maintenance, repair, and overhaul (MRO) services. Industry experts anticipate heightened regulatory scrutiny to ensure compliance with safety standards. Competitors may respond with pricing strategies or technological innovations to protect their market share. The long-term viability of the facility will hinge on its ability to attract and retain a skilled workforce and secure contracts with major airlines. McClellan underscored the region’s appeal, noting, “What drew IAG Aero Group officials to Bay County most was the available workforce,” highlighting the area’s potential to support growth in the aviation sector. As construction progresses, local officials and industry partners remain optimistic that the new engine maintenance facility will not only stimulate the local economy but also establish Northwest Florida as a significant hub in the global aviation industry.

Airbus Reports Progress After Supply Chain Reset Supply Chain Improvements Amid Persistent Challenges At the Paris Air Show in Le Bourget, Airbus executives highlighted notable progress in the company’s supply chain performance since early 2024, describing the developments as a “real inflection point.” Florent Massou dit Labaquère, Executive Vice President of Operations, revealed that the number of missing parts in the production system has decreased by 40 percent compared to the start of the year. This improvement has brought the current supply chain stability to levels comparable with pre-crisis years such as 2018 and 2019. Despite this advancement, Massou emphasized that Airbus must continue to enhance its operational efficiency to meet the heightened production targets set for the coming years. Airbus has maintained its production plans for 2024, having delivered 766 commercial aircraft so far, with a target of approximately 820 deliveries in 2025. These figures remain below the 863 aircraft delivered in 2019, prior to the global supply chain disruptions. The company aims to increase monthly production rates for key models, targeting 14 units of the A220 by 2026, 75 units of the A320neo family by 2027, and 12 units of the A350 by 2028. The A330neo is expected to sustain a production rate of four per month, although recent sales activity may prompt a future increase. Strategic Reset and Supply Chain Management Christian Scherer, CEO of Airbus Commercial, expressed confidence in the sustainability of these elevated production rates, particularly for the A220, and suggested the possibility of further increases. However, he acknowledged the challenges in securing supplier commitments, given the substantial costs and operational adjustments required to support these targets. Over the past year, Airbus has fundamentally reset its approach to addressing supply chain bottlenecks. Massou explained that the company has gained a clearer understanding of the factors that have hindered suppliers from ramping up production. To mitigate these issues, Airbus has implemented measures including selective price increases, advanced cash payments, and the strategic buildup of its own inventory to cushion against temporary shortages. Scherer described inventory as “good cholesterol,” highlighting its importance as a buffer in the supply chain. Despite these efforts, engine supply remains a significant concern. Material shortages have affected deliveries from key suppliers such as CFM, contributing to a 4 percent decline in Airbus deliveries in May 2025. CEO Guillaume Faury acknowledged the ongoing difficulties in meeting production goals, noting that airlines continue to exert pressure for timely aircraft deliveries. Market Response and Future Outlook Market reactions to Airbus’s progress have been mixed. The company has secured major orders, including ANA’s firm commitments for Airbus, Boeing, and Embraer jets, as well as a substantial order from Riyadh Air for A350-1000 aircraft. Nevertheless, Airbus faces continued pressure to fulfill delivery commitments amid strong demand and constrained production capacity. This environment has enabled the company to consolidate pricing, though the costs associated with strengthening the supply chain remain significant. Scherer noted that further improvements in competitiveness and reductions in unit costs will depend heavily on achieving the planned higher production rates in the coming years. As Airbus strives to balance robust market demand with ongoing supply chain challenges, its ability to deliver on ambitious targets will remain under close scrutiny from customers and investors alike.