Professional indemnity insurance will be a watchword for those consultants working with Airbus and advising the major European airline to upgrade the engines on its A320 aircraft.
Consultants and advisors of all types will have professional indemnity insurance to help protect themselves against advice which turns out to be misconceived, or wrong.
Although Airbus has thousands of in-house engineers, designers, marketing teams and researchers, it’s also likely that it will make use of a wide range of freelance consultants and advisors.
And it will be some of these that undoubtedly will help shape some of the company’s future plans and decisions.
More than likely external professional help will guide Airbus to the decision of its senior management team to replace the engines on its A320 aircraft, a single-aisle airliner. This announcement is seen by many industry watchers as a way that Airbus can counter the possible success of some niche plane manufacturers in providing the airlines with smaller, more fuel efficient additions to their fleets.
By going down the route of more fuel efficient engines – and ones which emit less C02 – Airbus avoids for some years having to plan and develop an A320 replacement. And it’s $1.3 billion investment in engine replacements, will be significantly less than introducing a totally new ‘efficient’ plane.
So it’s likely that all those experts who have contributed to such a decision, will have very good professional indemnity insurance policies indeed. Poor decision making is one of the main reasons why great companies can end up being not so great.
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