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Uncertainty About Brexit Troubling UK Maintenance, Repair and Operations Providers
As for many companies big and small operating in the UK's vibrant aftermarket, the specter of Brexit has brought lingering uncertainties, with many companies making contingency plans by placing parts at other locations on the continent to deal with no-deal Brexit.
AerFin being one company who has made that move. James Bennett, AerFin's director of sales and marketing, says with 35% of the company's revenue stream generated from Europe, business continuity post-Brexit is critical. "The Brexit outcome will clearly define the shape and magnitude of any export complications," he says. "With an orderly Brexit, we would expect a continuation of existing regimes and export practices. However, with a no-deal Brexit, there is likely to be more friction at the borders."
Along with following government guidance, Bennett says the company has adjusted its own business strategy in order to mitigate any risks related to a no-deal Brexit. Central to this is moving inventory around to other locations outside of the UK, a strategy popular with many industry component specialists. "We've strategically located inventory across our main product lines at select locations on the continent, including Tarmac in Tarbes [France], and our new E-Jet logistics facility in Atlanta, ensuring our customers can continually receive accustomed service levels throughout any periods of uncertainty," he says. The company has also invested heavily in inventory stock ahead of Brexit-mirroring moves by other UK-based parts suppliers and airline maintenance divisions.
AerFin has also broadened its network of repair vendors and has several long-term airframe and engine component repair agreements in place with specialists including Honeywell, Barfield, StandardAero and BP Aero. "By doing so, we continue to streamline the repair and movement of goods," Bennett says.