KF Aerospace Announces COVID Restructuring

KF Aerospace has joined the chorus of aviation companies urging the federal government to create a sector specific aid program for the industry. The company, Canada’s largest MRO and mod company for airliners, announced a restructuring plan that shed 14 percent of its 1100 workers in Kelowna and Hamilton, most through long-term leaves, resignations and retirements plus an unspecified number of layoffs. “This reduction has balanced the need for lower operating costs with the desire to remain viable and well-positioned with staff for the future rebound in aviation,” the company said in a news release. KF lost half its business this year because its airline customers grounded most of their fleets and cancelled scheduled maintenance.

KF said it slogged through the first six months of the pandemic with the help of the Canadian Emergency Wage Subsidy (CEWS), which allowed the company to retain its workforce this far but says it’s time for sectoral support. “It is imperative the Government put in place an aviation sector strategy which recognizes that all facets of the industry are being negatively impacted and that we need to work harder than ever to restore the public’s confidence in returning to the air,” the news release said.