27 Apr Prospects of 2023

Aviation has seen turbulence in the past three years, including the impact of the Covid-19
pandemic, the Russian war on Ukraine and rising costs of labor, fuel and materials. These
problems are also carried into the future, leading to uncertain demand, reduced capacity,
and potential airfare hikes. However, 2023 also offers optimistic prospects.

One of the biggest changes in 2023 is the increased focus on safety and security in the
aviation industry. EASA has introduced new rules for the Part-145 Safety Management
System, which are compulsory for all aircraft maintenance organizations. This system will
help ensure that aircraft are maintained to the highest standards of safety and reliability,
making private air travel even safer for passengers.

Another major development in 2023 is the progress of the AW609 tiltrotor aircraft program:
the flying machine could possibly be certified by EASA and FAA by the end of the year. The
AW609 is a new type of aircraft that combines the benefits of helicopters and fixed-wing
aircraft, offering increased speed and range, while maintaining the ability to take off and
land vertically.

Despite all challenges and changes, we want to express our gratitude for your continued
trust in 2022 and look forward to an even better new year!