The silver lining behind the Boeing cloud

As we enter the last month of 1Q24 (already?), here are some thoughts on the state of the commercial aviation industry. The summary is that there is a silver lining, but it is obscured – for now.

The perfect storm consists of a passenger capacity shortage driven by a pilot shortage (the residue of too many retirements during COVID) and Pratt & Whitney GTF-related AOGs.  Add the MAX 9 production squeeze and ongoing delay in getting the MAX 10 certified to that mix.