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Lufthansa Technik Group reports solid 2023 financial results of major Asian subsidiaries
March 15th 2024
Lufthansa Technik AG significantly increased both revenue and earnings in the 2023 financial year, benefiting from increased demand for maintenance and repair services due to the rising number of flights. Read More » Among the major subsidiaries Lufthansa Technik Philippines, a joint venture with Macro Asia, generated revenue of 226 million euros (US$247 million). Lufthansa Technik Shenzhen, a joint venture with Beijing Kailan Aviation Technology generated revenue of 107 million euros. The group is also a stakeholder in Lufthansa Technik Component Services Asia Pacific Limited, Hongkong, and flydocs India Private Limited, Vadoora, as well as joint-venture partner in Airfoil Services Sdn. Bhd., Kuala Lumpur, and Lufthansa HNA Technical Training Co., Ltd., Meilan Airport, Hainan. Globally Lufthansa Technik’s revenue grew 18% in 2023 by around one billion to 6.5 billion euros from 5.5 billion euros in 2022, returning to the pre-Covid level of the record revenue year 2019. The adjusted EBIT of 628 euros, 13% higher than 554 million generated in 2022 is the company's new record. “We want to continue to grow from this position. We still have big plans for Lufthansa Technik,” said Lufthansa Technik CEO Soeren Stark.
