GERMANY- With the initiation of ‘Ambition 2030,’ Lufthansa (LH) Technik is introducing a bold growth program to enhance its prominent global standing in providing technical support for aircraft fleets.
The company anticipates a sustained rise in demand for repair and overhaul services, with a particular focus on the engine sector. This surge is attributed to the growing prevalence of older engines in global flight operations and the heightened maintenance requirements of newly developed engines.
Executive Insights
Dr. Detlef Kayser, Chairman of the Supervisory Board of Lufthansa Technik, states, “As the world’s leading airline group, we operate over 700 aircraft across 13 flight operations, making us one of the largest airlines globally.
Given the ongoing challenges, particularly with engines, the strategic significance of Lufthansa Technik within the Lufthansa Group has significantly heightened in recent months.
We perceive this as a tremendous opportunity to strategically advance our MRO division through an ambitious growth program, enhancing its profitability further.
As the primary choice for airlines worldwide and an attractive employer for thousands, Lufthansa Technik remains a vital contributor to the Lufthansa Group’s ongoing economic success. We have substantial plans for Lufthansa Technik!”
The “Ambition 2030” program outlines extensive investments in expanding the core business, increasing the number of locations and global presence, potentially through acquisitions, and advancing digital business models in the upcoming years. In 2022, Lufthansa Technik recorded a revenue of 5.6 billion euros with approximately 22,000 employees worldwide.
The company aims to surpass 6 billion euros in revenue for the first time since the onset of the coronavirus crisis in the current year. In 2023, Lufthansa Technik anticipates achieving its second consecutive record year.
Future Plans
Sören Stark, CEO of Lufthansa Technik, asserts, “Lufthansa Technik should continue to play a pivotal role in our dynamic industry in the future. We harbor ambitious goals for the coming years, intending to invest in expanding our services, embracing digitalization, and bolstering our international presence.
This commitment will not only benefit our global customers but also our employees. The airlines within the Lufthansa Group will persist in reaping the rewards of our close collaboration, direct access to maintenance capacities, and the unparalleled expertise of our workforce worldwide.”
The aviation industry at large grapples with a scarcity of resources among suppliers and service providers. Full access to Lufthansa Technik’s MRO expertise and resources is a significant strategic advantage for the Lufthansa Group in the long run.
A tangible example is the development of a new First Class for Lufthansa Airlines’ Boeing 747-8 fleet, where Lufthansa Technik will take charge of developing and implementing the new premium seats.
Headquartered in Hamburg, Lufthansa Technik AG is the world’s leading provider of technical aircraft services, encompassing the maintenance, repair, and overhaul of aircraft, components, and engines (MRO). Around 4,500 commercially operated aircraft are under contract, constituting approximately one-fifth of the world’s commercial aircraft.
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