Lufthansa Technik (LHT) is committing over €1 billion in investments across the Americas, Asia-Pacific (APAC) and Europe, Middle East, and Africa (EMEA) regions over the coming years. “Our plans substantiate our aim to expand our leading market position,” stated Chief Financial Officer Dr William Willms. This commitment follows Lufthansa Technik’s Ambition 2030 strategy, which prioritises growth in North America and Asia.
“To finance our growth and investments, we must, of course, also generate corresponding revenues,” Willms noted. The company targets an Adjusted EBIT for 2024 close to last year’s record €628 million, despite material supply challenges in the aviation sector. By the third quarter, EBIT had already reached €486 million, a 5.9% increase on the same period last year.
Revenue rose by 13.9% to €5.5 billion in the first nine months, with projections to surpass €7 billion by year-end. With 523 new contracts signed this year, Lufthansa Technik continues to expand its core engine and component services, alongside advances in digitisation and sustainability.
Recent achievements include equipping airlines outside the Lufthansa Group with AeroSHARK, a functional film developed with BASF that imitates shark skin, reducing drag and enabling significant fuel savings. Additionally, the company’s Digital Tech Ops Ecosystem, launched in 2023, has added value in servicing thousands of aircraft. Lufthansa Technik is also the first Boeing-licensed service centre for cabin modifications on the 787 Dreamliner.
In Hamburg, a topping-out ceremony recently celebrated the expansion of a new hydraulics workshop, with plans confirmed for two further large workshops. The Hamburg investment alone sits in the mid three-digit million-euro range. Beyond site modernisation, Lufthansa Technik will establish a new plant in southwestern Europe for engine and component overhauls, with further major projects outside Europe to be announced soon.
Lufthansa Technik’s strategy includes inorganic growth through acquisitions, notably an 80% stake in ETP Thermal Dynamics, a Tulsa-based specialist in aircraft heat exchangers, oil, and fuel coolers. This acquisition not only expands Lufthansa Technik’s components portfolio but also strengthens its supply chain. Investment in personnel remains robust, with a workforce increase of about 2,000 employees, totalling 24,114 globally as of September. (€1.00 = US$1.08 at time of publication).
