Lufthansa Technik Experienced Modest Gain in 2009
Hamburg-based Lufthansa Technik Group reports that it recorded a small increase in revenue and stable profits last year. “We are investing in Germany while expanding our involvement in the international growth markets with sites in Eastern Europe, Asia, the Middle East and, increasingly, America,” August Henningsen, CEO, told AIN. “After the crisis year of 2009, the aviation industry is anticipating the beginning of a recovery, but technical service providers cannot expect price pressure to recede. The MRO sector is a late indicator and will continue to feel intensified price pressure arising from the difficult revenue situation in which the airlines find themselves. It is also clear that we want to–and must–contribute to reducing the technical costs of our customers. But we must not allow this to take place at the [expense] of quality. Despite more cost-efficient locations, programs to increase energy efficiency and flexibility, and a modern product portfolio, it will nevertheless be difficult to repeat 2009’s turnover and profit level this year,” he said.