Hot Section: Belt tightening measures implmented at Duncan Aviation
Duncan Aviation is cutting some production team members’ hours and implementing pay cuts in all other positions. According to the company, it is the first time in its 53-year history that Duncan has had to implement cutbacks.
“The majority of our competitors have reduced their workforce over the last several weeks,” said president Aaron Hilkemann. “In light of reduced flight hours, corporate flight department closings and reduced discretionary spending by businesses, we need to respond quickly with reductions in prices, wages and hours to remain strong and competitive.”
Chairman Todd Duncan pointed to the worldwide economic downturn: “Flight hours appear to be down 20 percent on a year-to-year comparison and manufacturers throughout our industry are seeing new aircraft orders being cancelled daily. In response, we have experienced significant downward pressure in labor pricing and are providing excellent prices to prospects to capture as much market share as possible.”