Qantas and Lufthansa Technik launch joint venture company

Australia's biggest airline, Qantas Airways Ltd., and the world's leading maintenance, repair and overhaul (MRO) provider, Lufthansa Technik AG of Hamburg, Germany, announced the launch of Jet Turbine Services Pty Limited (JTS), their new joint venture company specializing in engine maintenance, in Melbourne. Lufthansa Technik had announced its acquisition of a 50 percent stake in the Qantas subsidiary in April.

The joint venture company in Melbourne will provide technical support for GE and CFM56 engines in the Qantas fleet, together with Lufthansa Technik in Hamburg. The two partners are investing in the modernisation and expansion of the company, which currently employs 140 highly skilled staff. In addition the product range will be expanded so that technical services can be offered to additional customers in south-east Asia in the future.

Speaking in Melbourne on behalf of Lufthansa Technik, Chairman August Wilhelm Henningsen said he was convinced that the combined efforts of Qantas and Lufthansa Technik in the joint venture JTS would ensure the very best technical support for Qantas, secure jobs in both companies in the long term and also offer major opportunities in the region. "For Lufthansa Technik, participation in JTS and the ten-year contract for engine overhauls represent an important breakthrough in the Asia-Pacific growth market."

Commenting on the deal, David Cox, Executive General Manager Engineering of Qantas, said, "The partnership will provide JTS with global expertise, improved technical capability and an increased scale of operation. The modernisation and expansion of the company will secure the jobs of 140 employees here in Australia."

The range of engine types offered will be expanded from the types currently handled, that is, the CF6-80C2 and the CFM56-3, to include the full scope of work on the CF6-80E1 and CFM 56-7 engines. As well as expanding its engine overhaul activities, JTS will also offer other products and technical services.

Jet Turbine Services will be led by Chief Executive Officer Marek P. Wernicke, previously Chief Executive Officer of Lufthansa Technik Budapest, and Chief Financial Officer Mark Lemon.

JTS was founded in 2003 and became a wholly owned subsidiary of Qantas in September 2006. Situated at Melbourne International Airport, JTS has 11,000 m2 of hangar space and workshops plus a modern test cell in which engines of up to 75,000 lbf thrust can be tested.

www.lufthansa-technik.com

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