New management team of AERO presented its strategy for future of the company. In the middle of March, Dieter John replaced Giuseppe Giordo as President and CEO of Aero Vodochody Aerospace. During past weeks, the new CEO consolidated his management team and now he presented his plans for AERO.
AERO’s business strategy as it was set out by the previous management almost three years ago will not change – AERO will focus mainly on military programs, i.e. on development and production and repairs, modernisation and upgrades of AERO produced aircraft.
The L-39NG program remains a key priority and so do repairs, overhauls and modernizations of national and international L-159 and L-39 fleets. In parallel AERO will continue developing its third business pillar as a key supplier of aerostructures and partner of renowned aircraft manufacturers.
First key step is to complete certification of L-39NG - brand new aircraft of Aero - in accordance with the certification timeline and to continue with new contracts.
Another step is financial consolidation of the company. Starting end 2018 up to now, due to several concurrent events, AERO found itself in a difficult financial situation. Both CEO Dieter John and shareholder of AERO, Penta Investments, have taken very strong actions to improve the financial situation.
A holistic turnaround strategy which addresses multiple areas has been designed by the new leadership team. During implementation of the strategy, Aero and its shareholder will continue to invest into the future of the company and prepare it for sustainable growth. In addition, AERO shareholder, as in the past, confirmed their continual financial and non-financial support to AERO.
One voice message from AERO shareholder and from CEO Dieter John to all partners of the company says:
“L-39NG project continues to be our priority and it progresses according to the plan and so that we can meet our contractual commitments. Besides that, we will continue focusing on the capture and delivery of our services and MRO business and our key aerostructure projects. The turnaround program implemented will leverage our unparalleled programmatic, technical and performance capabilities and ensure AERO’s growth and competitiveness. AERO is here for 100 years and we plan to begin another hundred with further sales of L-39NG at the top.”