Lufthansa Technik Group Grows Faster Than the Market in 2007

The current 2007 Annual Report for the 19 companies that make up Lufthansa Technik AG shows an earnings before tax result of 287 million euros. This represents an improvement of 18.6 percent over the previous year.

In Germany, Lufthansa Technik in January 2008 opened its A380 maintenance hangar in Frankfurt. When the first A380 is delivered to Lufthansa in the summer of 2009, a maintenance base for this aircraft will be available at the Lufthansa hub. In the summer of 2007, an engine services joint venture with Rolls-Royce, N3 Engine Overhaul Services, launched operations in Arnstadt near Erfurt, Thuringia. In the meantime, it is servicing the Trent engines used in Airbus long-range aircraft. A new overhaul hangar is being erected by Lufthansa Technik Malta that will generate about 300 jobs during the next five years. And a new facility for the maintenance work on the Airbus A320 and Boeing 737 is being completed in the Bulgarian capital Sofia. Up to 380 jobs are being created there.

In Asia progress continues to be made on the 100-million-dollar investment program at Ameco Beijing, in the well-proven cooperation with Air China. The world's largest A380 hangar will be opened there in mid-March. Another hangar for widebody overhaul will be completed before the end of the year. And the Ameco Aviation College is also engaging in new construction in order to double its training capacities. In Manila, at Lufthansa Technik Philippines, a second widebody hangar for maintenance work on long-haul Airbus aircraft has become operational in October 2007. And in June 2007, Airfoil Services in Kuala Lumpur, a joint venture with MTU Aero Engines in Malaysia for repairing engine blades, moved to its new facility, which offers four times the floor space. A total of 250 new jobs were created here in a short period of time.

Given this backdrop, Lufthansa Technik sees solid opportunities to participate in the growth of the aviation industry around the world and to continue expanding its good market position. "With our modern range of products and our key presence in the aviation industry's established and growth markets, Lufthansa Technik expects a further growth in revenues in 2008," says Henningsen.

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