Panasonic sees fiscal 1Q decline in IFEC sales and MRO services

Panasonic sees fiscal 1Q decline in IFEC sales and MRO services

August 26, 2020

The sharp decline in commercial flight operations amid the COVID-19 crisis has impacted both the sale of inflight entertainment and connectivity (IFEC) hardware to airlines, and the revenue gleaned from providing maintenance for the systems. Now the parent of IFEC giant Panasonic Avionics has put some color around the challenges.

In a fiscal 2021 first quarter earnings presentation, Panasonic Corporation confirmed that sales in its Connected Solutions segment – where its Panasonic Avionics business sits – took a hit, as the company observed a decline in both the sale of IFEC hardware and repair & maintenance services.

IFEC sales and MRO are just one facet of Connected Solutions. Osaka-based Panasonic Corporation also offers process automation, media entertainment (projector technology for events, for example), mobile solutions such as notebook PCs, and other technology within this unit.

The company said efforts to reduce costs in Connected Solutions – mainly personnel costs – could not offset the decreased sales in the segment for the fiscal first quarter. Specific to the IFEC business, Panasonic Avionics implemented layoffs at its Lake Forest, California campus earlier this year, as first reported by RGN.

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Author : Emily

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