ISTAT Jetrader - Autumn 2021 - 23

strategically keeping their capacity under control, and that enabled them to
increase airfares and to pay for the increase in costs and to build strong balance
sheets. With the impact of the last year and a half, we're now going to see people
emerge from the rubble who are much stronger, and you're going to find other
people who have wasted the opportunity. Emerald is one of those airlines that
has taken full advantage of the crisis to establish a really competitive platform.
Emerald is one of those airlines that has taken full
advantage of the crisis to establish a really competitive
platform. We have a very clean, unencumbered balance
sheet. We have no historic debt or historic losses.
We have a very clean, unencumbered balance sheet. We have no historic debt or
historic losses. So, it's enabled us to come out very strongly. For a lot of airlines,
COVID-19 was the straw that broke the camel's back. Here in Dublin, for example,
we've had airlines like CityJet go into examinership, and Norwegian International
has shrunk its its operation here hugely. We've had Stobart cease trading. What
that's done is pushed people who would never come on the radar before to look
for jobs at other airlines. We're finding that the skills and the talent that we're
able to tap into now is like we've never seen before, and it's also available at
reasonable prices, the same way as the ATR 72 fleet is available at very good
prices. We're able to lease ATR 72s on power by the hour with fully mature rates
that are less than half of what we were seeing before the pandemic. And we're
finding similar stories in terms of airline systems suppliers, and in terms of the
various equipment we need, tooling, etc. We chose to build a really strong cost
base, and with a strong cost base, you can do a lot of things with airfares to
drive demand.
Jetrader: For young people considering going into aviation, what thoughts or
advice would you give them for how to approach their careers?
CM: My advice would be, " Go for it. " I think it's a fantastic industry. I love every
aspect of it. I love the fact that it attracts a lot of really interesting people, and
people who are fun to work with. It's also got really high standards. By that I mean,
the personal standards are very high, and the business ethics are high. Because
safety is front and center in everything we do, professionalism becomes critical. So,
you get a lot of like-minded people who want to do a good job first and foremost.
Yes, finance is important. Profit is important. If you don't make profit, you can't grow
or even survive, and you can't keep people working, but I think that follows. It's not
the primary objective. It may sound a bit romantic, but I actually think it is a great
industry to join, and it doesn't matter what your skill set is; there's room for so many
skill sets in this industry. Whether finance or engineering is your thing, or flying or
customer service, you'll find people at the very top of their game in aviation in those
areas. I would encourage people with a passion to join it.
I'm also a big fan of apprenticeships. I learned an awful lot about life when
I was an apprentice. Ireland has one of the highest percentage of third-level
education participation globally, and it's
virtually free here, so as a result of that,
so many people aspire to a third-level
degree. That's all very well, but I'm
a fan of the other third level, namely
apprenticeships. You earn while you
learn. Our apprentices spend about two
years of our four-year apprenticeship
in college, and they come out with a
great qualification [FETAC Level-7],
but they also get a great vocational
education. We're trying to encourage
more apprenticeships here in Ireland,
and I'm certainly a big fan of it. Dublin
Aerospace is, and has been for 10
years, the largest employer of aviation
apprentices in Ireland. We also push
other forms of vocational training, such
as traineeships. You can do a two-year
traineeship at Dublin Aerospace as an
aircraft mechanic, structures mechanic,
composite mechanic or landing gear
mechanic. Then, after just two years,
you've achieved enough skills and
qualifications to reach a reasonably
good earning potential, but also the
avenues open to you to continue to
educate yourself and move up the scale
as time goes on.
We're all getting a bit older, and
you have to train the next generation.
One of the things that's given me great
joy and satisfaction here at Dublin
Aerospace over the last two years
is watching the young people who
joined us as 18- or 20-year-olds now
moving into areas of responsibility as
zone leaders and aircraft certifiers
(licensed aircraft engineers) where
they're now running small teams and
responsible for important aspects of
the aircraft overhaul and signing off
on the work. They came in here not
knowing a thing about aviation, and
now they're licensed aircraft engineers
running a small crew and delivering
for our customers. That's a huge boost
when you can see that next generation
coming through. You get to realize that
the future is in good hands, and that's a
wonderful feeling.
Jetrader * AUTUMN 2021 * 23
ISTAT Jetrader - Autumn 2021

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