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Lufthansa Technik Reports Increased Revenue in 2014

Good order situation. Decreased costs. Operating result of 392 billion euro by Lufthansa Technik group's 22 firms

In fiscal year 2014, Hamburg-based Lufthansa Technik Group achieved a very good result just under last year’s record level, with increased revenue of 4.3 billion euro. The annual accounts of the 22 consolidated Lufthansa Technik Group companies show an operating result of 392 billion euro. Currently, Lufthansa Technik looks after 800 customers and a total of 3,200 aircraft. In 2014, the group was able to win 30 new customers and to conclude 325 new contracts, reaching a volume of 3.1 billion euro for 2014 and the years to come.

Technical Services Expanded

Lufthansa Technik has expanded its development of technical services for the newest aircraft types even further. Numerous customers now entrust Lufthansa Technik with the technical care of components and systems for their Boeing 787 fleets. Since the Airbus A350’s first day of scheduled service a few weeks ago, Lufthansa Technik has also been offering extensive maintenance services for this aircraft at its facilities in Frankfurt and Munich. Material supply for Asia and Europe is being developed, too. Co-operations for both aircraft types with important systems manufacturers such as UTC Aerospace Systems or Honeywell are being expanded significantly through long-term partnerships. Investments in innovation, research and development were boosted strongly in 2014. Plans call for 200 million euro to be invested by the year 2018 – four times as high as during the previous five years.

Global Network Of 30 Facilities

With 30 facilities around the world, the Lufthansa Technik network was expanded in line with market requirements. Capacities were extended at Lufthansa Technik Budapest and at the company’s facility in Shenzhen, China. In Manila, the A380 hangar was enlarged to allow simultaneous work on two Airbus A380s, and in Puerto Rico a new five-bay facility will open in autumn for overhauls of short-haul and medium-haul jets. EUR 60 million is being invested in Frankfurt in the construction of a new wheel and brake workshop that will go into operation in early 2017.

Successful Cost Management

In addition to investment plans, the company also successfully reduced cost. In its third year, Lufthansa’s SCORE programme resulted in 500 million euro in measures that were realisable in income, and the administrative streamlining and restructuring concluded in 2014 also significantly contributed to the group’s positive result. In its twentieth year of business, Lufthansa Technik thus enjoys a good, stable position as an independent company.
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source and further details:
www.lufthansa-technik.com

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