Lufthansa Technik Group report revenue increase for 2011

Lufthansa Technik Group, one of the world’s leading providers of technical services for aircraft, ended fiscal 2011 with a slight increase in revenue despite a difficult market. Revenue grew by 1.9% to €4.1bn. In spite of continued pressure on costs, the company’s result fell only slightly below the good result of the previous year. The annual report of the 21 consolidated Lufthansa Technik Group companies shows an operating result of €257m. “Considering the tense economic situation of many airlines, the revenue decline in some markets, and the negative effect on growth in customer business brought about by the valuation of the dollar, Lufthansa Technik maintained its course well in 2011,” said August Wilhelm Henningsen, CEO of Lufthansa Technik AG.