Letter: Joby Aviation’s Electric Air Taxi Is Not a Flying Car

AAMG Moves to Acquire Lilium’s Assets and Expertise The Ambitious Air Mobility Group (AAMG) has announced its intention to acquire the intellectual property, assets, and testing facilities of Lilium, alongside retaining key technical and certification personnel. This proposed acquisition is aimed at advancing the development and certification of Lilium’s aircraft platform, with plans to establish a European supply chain to support future production should the deal be finalized. Strategic Investment and Development Plans Prior to Lilium entering insolvency proceedings, AAMG had already placed an order for 16 of the company’s aircraft and is now positioning itself to revive the enterprise. The group has declared it holds over €250 million in capital dedicated to this initiative, with potential access to an additional €500 million intended to support expansion efforts across Europe and internationally. Dr. Robert Kamp, CEO and Senior Partner of AAMG, emphasized the significance of the technology developed in Bavaria, describing it as both groundbreaking and economically viable. He highlighted the platform as the culmination of years of work by some of the world’s most talented engineers and expressed enthusiasm about the opportunity to invest in and fully realize its potential. Collaboration and Market Expansion AAMG plans to work closely with a wide network of suppliers, regulatory bodies, and government partners to facilitate the integration and growth of Lilium’s technology. The group has also established a partnership with Japan’s AirMobility Inc., aiming to extend its reach into Asia-Pacific markets and coordinate international development efforts. Challenges and Market Implications Despite the promising outlook, the acquisition faces several challenges. Regulatory scrutiny is expected due to the complexity of integrating advanced aviation technologies and the necessity of certification across multiple jurisdictions. The process of merging Lilium’s expertise and assets with AAMG’s existing operations may present operational difficulties. Furthermore, competitors in the air mobility sector may respond with strategic initiatives such as forming new alliances or accelerating their own research and development programs. Investor reaction will likely depend on perceptions of the strategic alignment and financial impact of the acquisition on AAMG. While the company’s substantial capital reserves and international ambitions provide a strong foundation, the ultimate success will depend on navigating regulatory, operational, and competitive challenges effectively. Details regarding the sources of AAMG’s funding have not been disclosed. Nevertheless, the company’s international partnerships and expansion plans indicate a broader strategy to establish a leading position in the rapidly evolving air mobility market.

Blue Crest Aviation Partners Targets the Global Mid-Life Aircraft Market Crestone Air Partners, a wholly owned subsidiary of Air T, has announced the launch of Blue Crest Aviation Partners, a joint venture formed in collaboration with funds managed by Blue Owl Capital. This new initiative is focused on acquiring mid-life commercial jet aircraft leased to airlines worldwide, adopting a disciplined, income-oriented investment approach. Leveraging Expertise and Infrastructure Blue Crest builds upon Crestone’s established presence in the aviation sector and benefits from Air T’s integrated operating infrastructure. The venture will draw on extensive expertise in maintenance, repair and overhaul (MRO), aircraft parts sales, storage, disassembly, and leasing. These capabilities are critical for managing and optimizing mature-phase aircraft assets, a market segment that presents both significant opportunities and inherent challenges. This joint venture marks the next stage in Crestone’s capital formation strategy, following the successful deployment of Contrail JV II and related investment vehicles. Since 2020, Crestone and Blue Owl’s Alternative Credit funds have collectively committed hundreds of millions of dollars to aviation assets, underscoring their strong collaborative track record in the industry. Navigating Market Challenges and Opportunities The global mid-life aircraft market offers potential for stable lease income and asset value enhancement. However, it also involves navigating complex regulatory frameworks and addressing the technical demands associated with aging aircraft. The substantial costs of maintenance and retrofitting mid-life jets may lead airlines to exercise caution when considering new leasing arrangements. Furthermore, competition from established players with significant market share and advanced technological capabilities could intensify, potentially resulting in price pressures or accelerated innovation in services and technology. Despite these challenges, Blue Crest aims to expand its operations by leveraging the combined industry knowledge, financial strength, and operational expertise of its partners. The venture will concentrate on identifying, acquiring, and managing aircraft already in active service with established airlines, with the objective of optimizing asset value and generating consistent returns. Advisory Support and Compliance The transaction was supported by a team of professional advisors to ensure structural and regulatory compliance. KPMG LLP served as tax advisor, Pillsbury Winthrop Shaw Pittman LLP provided legal counsel, and Phoenix American Financial Services, Inc. will act as third-party administrator, offering operational and administrative support for Blue Crest’s activities.

Hawaiian Airlines and Pearl Harbor Aviation Museum Launch Aviation Career Program for Oʻahu Students Hawaiian Airlines, in partnership with the Pearl Harbor Aviation Museum, has introduced a new certification initiative designed to prepare high school students on Oʻahu for careers in aviation maintenance. The program, titled Aviation Pathways: Airframe and Powerplant (A&P), offers a no-cost, two-year training course specifically for high school juniors. It combines hands-on instruction, mentorship, and technical education to equip students with the skills necessary to pursue the Federal Aviation Administration (FAA) A&P license, a critical credential for professionals in aircraft maintenance. Program Launch and Structure The Aviation Pathways program officially commenced on August 4, 2025, at the Civil Air Patrol Headquarters near Daniel K. Inouye International Airport. The inaugural cohort consists of ten students drawn from both Department of Education schools and Kamehameha Schools. Upon successful completion, participants will graduate from high school and become eligible to take the FAA certification exam. This certification opens doors to various aviation roles, including aviation maintenance technician, aircraft repairman, and quality assurance inspector. Hawaiian Airlines is providing a full-time A&P instructor from its own workforce to lead the training, while Alaska Airlines has contributed ten toolboxes to support the practical components of the program. Additional partners include West-MEC and the Si Robin Foundation, a nonprofit organization dedicated to aerospace scholarships. This collaboration is part of a wider industry response to the persistent shortage of skilled professionals in maintenance, repair, and overhaul (MRO) sectors. The initiative aligns with efforts such as Hawaii Builds Homegrown Path, which aims to enhance local aviation education and workforce development. Industry Context and Future Prospects The launch of this program occurs amid growing challenges in the aviation industry, including intensified competition for skilled labor, rising labor costs, and economic uncertainties. The initiative has garnered significant interest from local students and holds potential for expanded collaboration with aviation schools. Competitors like Alaska Air Group, which recently reported a decline in net income for the second quarter of 2025, may seek to strengthen their own training programs to attract emerging talent and maintain competitiveness. Industry experts observe that the Aviation Pathways program addresses immediate workforce needs in Hawaiʻi’s aviation sector while supporting broader objectives to cultivate a sustainable, homegrown talent pool. By providing students with direct access to industry resources and mentorship, the program aims to establish a reliable pipeline of qualified aviation maintenance professionals for the future.

Air France-KLM Reduces Airbus A350F Freighter Orders Amid Delays and Market Shifts Air France-KLM Group has announced a reduction in its Airbus A350 freighter orders, scaling back its commitment from eight to six aircraft. This adjustment results from ongoing production delays and a strategic reassessment of the group’s cargo fleet. The revision reduces Martinair’s backlog by one A350F, leaving both Air France and Martinair with three A350Fs each, down from the initially planned four per carrier. Strategic Reassessment in Response to Delays The decision follows Airbus’s recent confirmation of delays in the A350F’s entry into service, prompting Air France-KLM to reevaluate its capital expenditure and operational priorities. The group indicated that the reduction aims to balance future investments with the need to maintain a flexible and efficient cargo operation. Despite the cutback, the A350Fs remain slated to replace Air France’s Boeing 777-200Fs and KLM/Martinair’s Boeing 747-400Fs eventually. To ensure continuity, current leases on existing freighters may be extended. At present, Air France-KLM Martinair Cargo operates a fleet comprising two Boeing 777Fs and four Boeing 747-400Fs. Industry-Wide Repercussions and Market Context This move aligns with a broader trend among airlines reassessing long-range aircraft commitments amid market uncertainties. Wizz Air recently reduced its Airbus A321XLR order, reflecting skepticism about the aircraft’s alignment with evolving business models. Similarly, Air Lease Corporation, the launch customer for the A350F, canceled all seven of its orders last month, citing delivery delays and heightened caution over large freighter investments amid uncertain tariff and trade conditions. Industry analysts suggest that these developments may intensify competition, as rival carriers could leverage delays to negotiate more favorable terms with manufacturers or enhance their cargo capabilities. Air France-KLM’s order reduction may create opportunities for competitors to capture market share or reposition their fleets more aggressively. Broader Strategic Implications for Air France-KLM The group reaffirmed its commitment to a mixed cargo fleet strategy, combining dedicated freighters with bellyhold capacity on passenger flights. However, the order reduction, alongside recent strategic decisions—such as withdrawing from the Air Europa acquisition and focusing on premiumization—indicates a broader recalibration of Air France-KLM’s market approach. These shifts are likely to influence the group’s competitive positioning as it navigates a challenging environment characterized by shifting demand patterns, supply chain constraints, and evolving customer expectations. As Air France-KLM adapts to these industry dynamics, its ability to balance operational requirements with strategic ambitions will remain under close scrutiny from investors and competitors alike.

How the General Electric GEnx Engine Transformed Boeing's Aircraft The General Electric GEnx engine has emerged as a transformative force within Boeing’s aircraft portfolio, establishing itself as the fastest-selling and most widely used jet engine in history, with over 3,000 units currently in operation. Its integration into the Boeing 787 Dreamliner and 747-8 models has significantly enhanced aircraft performance while reshaping competitive dynamics across the aviation sector. Technological Advancements and Environmental Benefits Incorporating cutting-edge technology, the GEnx engine achieves a 1.4% annual reduction in carbon emissions alongside a 3% increase in yearly utilization compared to earlier engine generations. This improvement allows aircraft to remain operational for up to seven additional days annually, offering airlines a substantial boost in operational efficiency. A hallmark of the GEnx’s design is its pioneering use of carbon fiber composite materials in the fan casing and blades, a world first that results in a lighter, more corrosion-resistant, and quieter engine. These innovations not only reduce maintenance requirements but also enhance overall reliability, directly benefiting airline operations and sustainability goals. Engineering Innovations and Performance Enhancements Building upon the foundation of the GE90 engine, the GEnx introduces several engineering breakthroughs. The engine features carbon-fiber composite fan blades with a reduced blade count—18 instead of 22—further decreasing weight and improving aerodynamic efficiency. Notably, it incorporates the first FAA-approved 3D-printed components, such as the power door opening bracket (PDOS), introduced in 2018. The engine’s lean-burning twin-annular pre-swirl combustor significantly lowers nitrogen dioxide emissions, maintaining levels well below regulatory thresholds. The GEnx-1B variant powers all Boeing 787 models, while the GEnx-2B is utilized on the 747-8 and 747-8F aircraft. Both variants deliver superior fuel efficiency and reduced operating costs. Advances such as next-generation 3D dynamics and titanium aluminide blades reduce engine weight by up to 300 pounds (136 kilograms), optimizing performance on long-haul flights. The GEnx-1B also achieved a 330-minute ETOPS (Extended-range Twin-engine Operational Performance Standards) rating following rigorous endurance testing, thereby expanding operational flexibility for airlines. Market Impact and Boeing’s Financial Recovery The technological progress embodied by the GEnx engine has elicited a strong market response. GE Aerospace’s improved profit outlook and increased engine deliveries reflect robust aftermarket demand, as airlines extend the service life of older aircraft amid production delays at Boeing and Airbus. This trend is exemplified by JetBlue’s recent divestment of CF34 engines during its transition to Airbus A220s, signaling shifts in market dynamics and growth in the secondary market for regional engines. Boeing’s financial turnaround is underscored by higher aircraft deliveries and increased revenue, highlighting the GEnx engine’s role in this recovery. The ongoing production of the 787 Dreamliner and the final delivery of the 747-8 to Atlas Air in 2023 demonstrate sustained demand for aircraft equipped with GEnx technology. Global Support and Future Prospects General Electric’s extensive global support network, combined with software-driven maintenance solutions, ensures continued reliability and operational efficiency for airlines worldwide. As the aviation industry navigates evolving market conditions and increasingly stringent environmental standards, the GEnx engine remains a critical driver of efficiency, sustainability, and competitive advantage for Boeing and its customers.

BeauTech Expands Engine Leasing Portfolio with Acquisition from JetBlue BeauTech Power Systems has entered into a sale-and-purchase agreement with JetBlue Airways to acquire 11 General Electric CF34-10E6 engines. This strategic acquisition enhances BeauTech’s engine leasing portfolio amid evolving market conditions and a growing demand for short-term engine leasing solutions. The addition of these engines is poised to support airlines and maintenance, repair, and overhaul (MRO) providers as they manage fleet transitions, bridge maintenance intervals, and extend the operational life of aircraft. Addressing Market Demands and Operational Challenges The newly acquired CF34-10E6 engines will enable BeauTech to offer flexible and timely leasing options, helping operators optimize aircraft utilization and reduce downtime—key factors in maintaining efficient flight schedules and controlling operational costs. This move comes at a time when the aviation industry is grappling with extended shop visit turnaround times, particularly affecting Embraer E190 operators who depend on this engine model. The increased demand for short-term engine leasing has driven lessors to expand their engine pools, while competitors may seek to negotiate better terms with manufacturers or pursue similar acquisitions to remain competitive. JetBlue’s Fleet Modernization Strategy For JetBlue, the sale of these engines aligns with its broader fleet modernization efforts, specifically its transition from Embraer E190 aircraft to the more fuel-efficient Airbus A220s. By divesting these engines, JetBlue unlocks value from its E190 assets while facilitating the continued utilization of CF34-10E6 engines in the global market. This strategic decision is likely to influence the regional engine sector, encouraging other airlines and lessors to reevaluate their fleet and engine management strategies. The transaction highlights BeauTech’s dedication to delivering high-value, adaptable leasing solutions that meet both immediate operational needs and longer-term fleet planning objectives. Simultaneously, it reflects JetBlue’s commitment to optimizing fleet efficiency and resource allocation as it advances its aircraft lineup. This agreement represents a significant development for both companies, supporting JetBlue’s fleet evolution and enhancing BeauTech’s capacity to provide essential leasing solutions that bolster the operational capabilities of airlines and MRO providers worldwide.

HAECO Renews Base Maintenance Contract with ASL Airlines Belgium Continued Partnership Through 2029 HAECO has extended its long-standing base maintenance agreement with ASL Airlines Belgium (ASLB), securing their collaboration through 2029. The renewed contract, commencing in 2026, will see HAECO maintain its role in servicing ASLB’s Boeing 747-400ERF freighter fleet at its Xiamen facility in China. This extension reinforces a partnership that began in 2014, when HAECO first undertook both line and base maintenance for ASLB’s Boeing 747 aircraft. Over the past decade, the relationship between the two companies has grown to encompass a wide array of technical services, underpinning the Belgian cargo carrier’s operational reliability across its international network. ASLB, headquartered at Liège Airport, operates a mixed fleet of Boeing 737 and 747-400ERF aircraft, connecting key hubs in Europe, China, and the United States. Strategic Importance and Industry Challenges The renewed agreement guarantees ASLB continued access to HAECO’s technical expertise, operational efficiency, and competitive turnaround times—factors that are critical in the highly demanding air freight sector. HAECO’s Xiamen facility, a pivotal element of its global maintenance, repair, and overhaul (MRO) network, provides comprehensive services ranging from heavy maintenance checks to aircraft modifications. As HAECO deepens its partnership with ASLB, it simultaneously confronts broader industry challenges. Maintaining high standards of repair and overhaul for emerging aircraft models, including Comac’s C909 and C919, remains a strategic priority. Additionally, ensuring compliance with rigorous international regulations and managing key partnerships, such as its collaboration with Liebherr-Aerospace, are vital to preserving HAECO’s reputation for reliability and technical excellence. Market analysts suggest that the contract renewal may enhance investor confidence in HAECO’s capabilities, underscoring its ability to secure long-term agreements with major cargo operators. At the same time, competitors are expected to respond by strengthening their own alliances and advancing technological innovations to sustain their positions within the global MRO market. In addition to base maintenance, HAECO will continue to provide comprehensive line maintenance services for ASLB’s fleet, supporting optimal dispatch reliability and enabling the airline to meet stringent cargo schedules. This extension highlights HAECO’s commitment to delivering consistent quality and dependable support, backed by a highly skilled workforce and over 75 years of industry experience.

Airbus Monthly Deliveries Continue to Increase Airbus has reported a steady rise in aircraft deliveries for the third consecutive month, signaling renewed momentum for the European aerospace manufacturer. On August 7, 2025, the company announced it delivered 67 jets to 41 customers in July, bringing its total deliveries for the year to 373. This increase follows 63 deliveries in June, 51 in May, and 56 in April, reflecting a consistent upward trend in production and distribution. Delivery Performance and Industry Outlook The latest figures come shortly after Airbus reaffirmed its annual target of approximately 820 aircraft deliveries during its half-year results announcement on July 30. Earlier in the year, this goal appeared ambitious amid ongoing industry headwinds, but the recent pace suggests Airbus is now on track to meet its objective. CEO Guillaume Faury highlighted that 60 completed aircraft are currently awaiting engines, underscoring persistent supply chain complexities that continue to challenge the sector. Among the July deliveries, six A350s were handed over to major carriers including Emirates, Air France, Iberia, Japan Airlines, Etihad, and Turkish Airlines. Notably, Etihad received its first of 30 Airbus A321LRs, featuring premium cabins typically reserved for long-haul flights—a regional first. Airbus also secured seven new orders in July, with Condor purchasing four A330neos and an undisclosed customer ordering three A321neos. Challenges and Market Dynamics Despite the positive delivery momentum, Airbus continues to face significant challenges. Persistent supply chain disruptions, rising production costs, and the need to comply with evolving regulatory standards remain substantial hurdles. These factors could affect the company’s ability to sustain its current delivery pace and meet its annual targets. Market reactions to Airbus’s improved performance have generally been favorable, with increased investor confidence reflecting optimism about the company’s prospects. However, some analysts caution that a rapid ramp-up in deliveries could lead to overcapacity in the market, potentially exerting downward pressure on aircraft values and airline profitability. Meanwhile, competitors are closely monitoring Airbus’s progress. Boeing, in particular, may respond by accelerating its own production schedules or introducing new aircraft models to maintain its market share. This evolving competitive landscape highlights the high stakes in the global aerospace industry as manufacturers strive to recover from recent disruptions and capitalize on renewed demand. As Airbus works to overcome operational challenges and deliver on its ambitious targets, the coming months will be critical in determining whether the company can maintain its upward trajectory amid a dynamic and competitive market environment.

Airbus Outlook for 2025: Deliveries, Orders, and Long-Term Strategy As the aviation industry continues to navigate persistent challenges, Airbus approaches 2025 with a combination of operational resilience and strategic foresight. For investors and industry observers alike, the critical considerations revolve around whether Airbus can sustain its delivery momentum and leverage its substantial order backlog alongside disciplined operations to generate long-term value. Deliveries: Managing Supply Chain Constraints While Sustaining Output In the second quarter of 2025, Airbus delivered 11,308 commercial aircraft units, marking a 6% decline compared to 12,048 units in the same period of 2024. This reduction primarily stems from ongoing supply chain disruptions, notably engine shortages impacting the A320 Family, whose deliveries fell to 113 units from 159 a year earlier. Despite these headwinds, Airbus remains on course to meet its annual target of 820 deliveries, having completed 373 aircraft by July 2025. The A320 Family continues to be the cornerstone of Airbus’s delivery performance, accounting for 78% of total units delivered. Production scalability remains a strategic priority. Airbus aims to increase output to 75 A320 aircraft per month by 2027 and 12 A350 aircraft per month by 2028. Although current supply constraints are significant, the company’s capacity to absorb these shocks without compromising adjusted EBIT growth underscores its operational robustness. Notably, consolidated reported EBIT for Q2 2025 rose by 35% year-on-year to €1,144 million, supported in part by reduced charges within the Space Systems division. Orders and Backlog: A Strategic Advantage Amid Market Demand The most compelling development in 2025 is Airbus’s strengthening order book. During the first half of the year, the company secured 494 gross orders (402 net), representing a 30% increase over the first half of 2024. The year-end backlog now totals 8,754 aircraft, a 2% rise, with 82% concentrated in the A220 and A320 Families. This positions Airbus favorably to capitalize on the single-aisle market segment, which constitutes over 70% of global commercial aircraft demand. The timing of delivery acceleration is critical. Resolving supply chain bottlenecks—particularly those related to Spirit AeroSystems—could enable Airbus to expedite deliveries and convert backlog into cash flow more efficiently. The anticipated acquisition of Spirit’s work packages, expected to close in the fourth quarter of 2025, is a pivotal step. This integration aims to stabilize the A350 and A220 programs, both of which have experienced volatility due to supplier disruptions. Competitive and Market Dynamics Airbus’s capacity to maintain its competitive advantage over Boeing, especially in the narrowbody and widebody aircraft segments, remains under close scrutiny. Data from Aviation Week indicates intensifying competition, with both manufacturers likely to adjust production rates and pricing strategies in response. The upcoming Paris Air Show in 2025 will serve as a critical platform for industry insights and may influence market sentiment significantly. External factors also present challenges. The global downturn in container shipping could indirectly affect Airbus’s supply chain and demand environment, adding complexity to its operational outlook. Supply Chain Challenges and Strategic Responses Spirit AeroSystems’s financial difficulties, highlighted by a $133 million loss in Q2 2025 and ongoing litigation, have posed substantial challenges for Airbus. In response, Airbus has injected an additional $94 million to support Spirit and facilitate a smooth transition. This intervention is not merely a financial rescue but a strategic investment aimed at securing supply chain stability. Should the acquisition close as planned, Airbus would reduce its dependence on third-party suppliers for critical components, thereby strengthening its long-term operational position. Outlook Despite the persistent challenges, Airbus’s disciplined operations, growing order backlog, and proactive supply chain initiatives position the company as a resilient force within a volatile industry. The forthcoming year will test Airbus’s ability to convert its backlog into deliveries and maintain its competitive edge, but current fundamentals suggest it remains a compelling long-term prospect.

The Collapse of Russia’s Aviation Sector and Its Global Impact Russia’s aerospace industry is undergoing a profound crisis, driven by the combined pressures of international sanctions, chronic underinvestment, and escalating operational challenges. Initially, efforts to achieve self-sufficiency following the imposition of sweeping sanctions in 2022 aimed to stabilize the sector. However, these initiatives have instead precipitated a systemic breakdown with significant economic, technological, and security ramifications. The repercussions extend beyond Russia’s borders, sending shockwaves through global supply chains, sanction enforcement mechanisms, and the competitive dynamics of the aerospace market, particularly as China’s COMAC emerges as a tentative alternative. Russia’s Aerospace Ecosystem: A System in Crisis Attempts to localize Russia’s aerospace supply chain have largely failed to meet expectations. Despite a 22% reduction in the budget allocated to the Aircraft and Helicopter Production federal project for 2025, the sector has delivered only five aircraft since 2022—an output drastically short of the 1,000-unit target set for 2030. The Comprehensive Program for Aviation Industry Development (KPGA) has been halved, and official assertions from state conglomerate Rostec claiming “unaffected production” are contradicted by a 45 to 70 percent increase in domestic aircraft costs. These cost surges are attributed to inflated prices for components and improvised solutions to replace unavailable Western parts. Decades of insufficient investment in engineering and research and development, compounded by the diversion of critical resources to the defense sector, have left Russia’s technical capabilities severely diminished. Anatoly Gaydansky of Aerocomposite highlights that Russia’s electronic component base lags “years behind global standards,” signaling not just a slowdown but a collapse in technical capacity. Recent incidents have further exposed these vulnerabilities. Aeroflot, the country’s flagship airline, was compelled to cancel flights following a cyberattack, causing operational disruption and market uncertainty. Additionally, the crash of Angara Airlines’ An-24 turboprop in the Far East has intensified scrutiny of Russia’s aging fleet and fragile aviation infrastructure. These events underscore the sector’s instability and raise concerns about broader economic consequences, potentially prompting strategic recalibrations among international competitors. Western Aerospace Firms: Navigating the Fallout The impact on Western aerospace suppliers has been immediate and severe. Russia’s VSMPO-AVISMA, the world’s largest titanium producer, has been effectively cut off from Western markets. Boeing and Airbus, which previously sourced approximately 30% and 50% of their titanium from VSMPO respectively, are urgently seeking alternative suppliers. Japanese and American companies such as Osaka Titanium and Allegheny Technologies have stepped in to fill the gap, yet Europe’s limited domestic capacity leaves Airbus and Safran particularly vulnerable. Beyond titanium, Western firms are confronting delays in the supply of electronic components and landing gear systems as Russian manufacturers struggle to substitute Western inputs. This situation poses a risk of production bottlenecks at major aerospace companies including Boeing, Airbus, and Rolls-Royce. The mandatory 12-month qualification period for new suppliers serves as a cautionary indicator; any further delays could trigger cascading disruptions throughout the global aerospace supply chain. Sanctions, COMAC, and the Search for Alternatives China’s COMAC has surfaced as a potential alternative to Western aerospace suppliers, though its capabilities remain constrained. The C919 jet, with only 20 deliveries to date, continues to rely heavily on Western engines and avionics. U.S. export restrictions have postponed the development of COMAC’s domestic CJ-1000A engine program until at least 2030. Meanwhile, the C929 widebody project, now fully under Chinese control following Russia’s withdrawal, faces an uncertain and protracted timeline. COMAC’s reliance on Western expertise is further evidenced by its partnerships with HAECO and Liebherr-Aerospace for maintenance services. Although a 2025 Roland Berger report suggests that global aerospace resilience is improving, COMAC’s trajectory remains fraught with geopolitical tensions and supply chain vulnerabilities. Outlook Russia’s aviation sector is in a state of freefall, with operational failures and infrastructural weaknesses exacerbating the effects of sanctions and chronic underinvestment. The global aerospace industry is entering a period of significant adjustment as supply chains realign and new vulnerabilities come to light. For investors and industry leaders, maintaining vigilance and adaptability will be essential as the sector confronts this unprecedented disruption.