In a resolute declaration of its commitment to the future of aviation excellence, the Lufthansa Group has officially announced its decision to maintain sole ownership of Lufthansa Technik (LHT). This decision comes as the aviation industry anticipates a dynamic period of growth and innovation and Lufthansa Technik positions itself as a pivotal player in this transformation.
The aviation landscape has seen its fair share of challenges in recent times, with ongoing manufacturer issues and the evolving demands of a rapidly changing industry. Amid these complexities, Lufthansa Technik has stood as a steadfast pillar of support, providing essential maintenance, repair and overhaul services to a global network of airlines. As the technical backbone of the Lufthansa Group, its strategic value has only grown more pronounced in recent months.
Dr. Detlef Kayser, Chairman of the Supervisory Board of Lufthansa Technik, articulated the significance of this decision, stating, “Our role as one of the world's largest airline groups, operating over 700 aircraft across 13 flight operations, underscores the integral nature of Lufthansa Technik within our organisation. In light of the ongoing industry challenges, especially concerning engines, we view Lufthansa Technik as an indispensable asset that will continue to play a vital role in our sustained success.”
The decision to retain sole ownership of Lufthansa Technik is an embodiment of Lufthansa Group's confidence in its own capabilities and the expertise of its subsidiary. It underscores the belief that Lufthansa Technik possesses the vision, resources and determination to navigate the evolving aviation landscape successfully. The move reaffirms Lufthansa Group's unwavering commitment to fostering growth and innovation within its own ecosystem.
Under the banner of “Ambition 2030,” LHT is poised for a remarkable journey of expansion and innovation. The ambitious growth programme includes substantial investments in core business expansion, the establishment of new global locations, potential acquisitions and a deeper foray into digital business models. This strategic vision reflects LHT's dedication to meeting the growing demands of the aviation industry.
In 2022, LHT achieved a revenue of €5.6 billion with a workforce of approximately 22,000 employees worldwide. Building on this solid foundation, the company is targeting a revenue of over €6 billion for the current year, marking a significant milestone. Furthermore, 2023 is poised to be yet another record-breaking year for the company, further affirming its role as a leader in aviation technical support.
The future growth of Lufthansa Technik will be driven by its technical support services for engines and aircraft components, capitalising on new propulsion technologies and innovative mobile service offerings. Additionally, the company intends to expand its presence in the United States and enhance its global footprint. (£1.00 = €1.16 at time of publication).
