Lufthansa Technik, Bombardier and ExecuJet extend LBAS Joint Venture

Lufthansa Technik, Bombardier Aerospace and ExecuJet Aviation Group have agreed to modify and extend the terms of their joint venture arrangement operating as Lufthansa Bombardier Aviation Services (LBAS). LBAS, located at Berlin Schönefeld Airport, is specialized in the maintenance, repair and overhaul of Bombardier Learjet, Challenger and Global business jets.

Dr. Hans Schmitz, Chairman of the Supervisory Board of LBAS: "We are proud of how this company developed over the past twelve years. It is the leader outside North America for maintenance of Bombardier business aircraft."

Andreas Kaden, Managing Director of LBAS, adds: "The continuation of the Joint Venture demonstrates the trust of all three shareholders in LBAS' corporate concept. Hence, we continue to successfully manage through this difficult economic period and are poised for future growth."

Since its foundation, LBAS has grown tenfold in size at its Berlin Schönefeld Airport headquarters. LBAS' 160 staff members have serviced more than 400 different aircraft with 15 different national Part 145 authority approvals. Its 24/7 "Mobile Repair Party" enables the facility to reach customers at remote locations such as in Russia, the Cape Verde Islands or Mauritius.

Lufthansa Bombardier Aviation Services GmbH:

LBAS, based at Berlin-Schönefeld airport in Germany, was formed in 1997 as a subsidiary of the Lufthansa Technik Group and of the Bombardier Aerospace Group. LBAS specializes in the maintenance, repair and overhaul of Bombardier Global, Challenger and Learjet business jets. The joint venture also includes the global business aircraft operator and service provider ExecuJet Aviation Group, headquartered in Switzerland, which joined LBAS in 2005.

Lufthansa Technik:

The Lufthansa Technik Group, with more than 30 subsidiaries and about 26,000 employees worldwide, is one of the leading manufacturer-independent providers of services for the aviation industry. In 2008, the Group's overall revenues stood at 3.7 billion euros. Lufthansa Technik is licensed internationally as a repair, production and development enterprise. The Group's portfolio encompasses the entire spectrum of services in the areas of maintenance, repair, overhaul, modification and conversion, engines and components.