Aerospace Worries As 'No-Deal' Brexit Remains In Play
Tony Osborne | Aviation Week & Space Technology Jun 12, 2019
British aerospace suppliers have found themselves frozen out of industry tenders, as the uncertainty about Britain’s departure from the EU continues.
Brexit may have been delayed until the end of October, but as Britain begins the hunt for a new prime minister following the resignation of Theresa May last month, there are questions about whether there will even be enough time to negotiate a new deal with Europe. There are only a handful of weeks available for parliamentary debates and negotiation before the Oct. 31 deadline.
Concern about the possibility of a “no-deal” Brexit, a nightmare scenario for aerospace, prompted companies to shell out hundreds of millions of pounds on buffer stocks and contingency plans to maintain supply continuity to customers in the run-up to the original Brexit deadline of March 29.
A significant portion of those costs were unrecoverable, but more concerning is that UK-based suppliers have been prevented from participating in several tenders run by European and U.S. customers. Those suppliers “did not know the commercial terms on which they were going to be operating post-March 29 and April 12,” says Jeegar Kakkad, chief economist and director of policy at ADS, the UK aerospace, defense, security and space trade association.
https://aviationweek.com/commercial-aviation/aerospace-worries-no-deal-brexit-remains-play
I realize that this article is 7 days old, but it really encapsulates what will happen if the two Tory people running to take over May's office............................think her clusterfuck was beyond belief wait until if Johnson or Farage get in ....................
Now someone should ask Boris Johnson, Nigel Farage and other Tory jerks what they think of there hard line No-Deal Breixt stand would do to the aerospace workers in the country.....................once it gone it is gone.......................you can give your parts away but that lasts for only so long, and taxpayers will not support a failed policy...................leaning toward economic bankruptcy..................
