Lufthansa Technik is launching an ambitious growth programme to further expand its position in the technical support of aircraft fleets, through its “Ambition 2030” initiative.
The company expects a long-term increase in demand for repair and overhaul services, particularly in the engine sector.
In addition to the increasing number of older engines in global flight operations, the higher maintenance intensity of newly developed engines is also contributing to this.
Detlef Kayser, chairman of the supervisory board of Lufthansa Technik, said: “As the world’s leading airline group, we operate over 700 aircraft in 13 flight operations.
“This makes us one of the largest airlines in the world. In view of the ongoing manufacturer problems – especially with engines – the strategic value of our Lufthansa Technik as an integral part of the Lufthansa Group has again increased significantly in recent months.
“We see this as a great opportunity to further develop our MRO division strategically with an ambitious growth program and to further increase its profitability.
“As the first address for airlines from all over the world and an attractive employer for many thousands of people, Lufthansa Technik will continue to be an integral part of the Lufthansa Group’s economic success in the future. We have big plans for Lufthansa Technik.”
The “Ambition 2030” programme plans extensive investments in the expansion of the core business, the expansion of locations and the international presence, potentially also through acquisitions, as well as the expansion of digital business models in the coming years.
In 2022, Lufthansa Technik generated revenue of 5.6 billion euros with around 22,000 employees worldwide. In the current year, the company is targeting revenue of more than 6 billion euros for the first time since the coronavirus crisis.
In 2023, Lufthansa Technik is expected to achieve its second record year in a row.
Sören Stark, CEO Lufthansa Technik, said: “Lufthansa Technik should continue to be the determining factor in our very dynamic industry in the future.
“We have very ambitious goals for the coming years: We will invest in the expansion of our services as well as in the digitalisation of our business and the expansion of our international presence. This will benefit our customers and our employees around the world.
“The airlines of the Lufthansa Group will continue to benefit from the intensive cooperation, direct access to maintenance capacities and the expertise of our employees, which is unmatched worldwide.”
First published by FINN: www.wearefinn.com
Dec 5, 2023 – 9:00 am
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