Lufthansa Technik

Lufthansa Technik Overview

Company Headquarters: Hamburg, Germany

Founded: 1995

Workforce: ~26,000

Company Working: Lufthansa Technik, a subsidiary of the Lufthansa Group, provides aircraft maintenance, repair, and overhaul services for the global aviation industry. It offers engine services and landing gear services to the airlines, charter carriers, and operators of VIP aircraft. The firm has a substantial customer base, especially in regions such as the Americas, Asia-Pacific, and Europe. It mainly operates through its eight main business segments, namely, aircraft maintenance, aircraft overhaul, component service, engine maintenance, aircraft systems, the development and manufacture of cabin products, the outfitting and support of VIP aircraft, and creation of digital products. It has 30 subsidiaries, including Lufthansa Technik Logistik GmbH and Lufthansa Technik Philippines Inc.

Strategy

Lufthansa Technik is centered on mergers, acquisitions, and joint ventures with other MRO companies across the globe to increase its market share. Furthermore, it is focusing on increasing its service offerings and upgrading its MRO facilities to increase its customer base and revamp its revenue.

Company Snapshot

$6,496M

Revenue

26,000

Employees

1995

Founded

Hamburg, Germany

Headquarters

SWOT Analysis

Strengths

Good financial performance with a high market share
Strong presence in North America and Europe

Weaknesses

Limited penetration in Asia-Pacific
Less penetration in Asia-Pacific

Opportunities

Opportunity to acquire and merge with other MRO companies to gain a larger customer base worldwide
Increasing demand for aircraft MRO outsourcing
Opportunity to acquire and merge with other MRO companies to generate a larger customer base worldwide

Threats

Increasing labor costs
Fluctuating raw material prices
Increasing raw material prices

Key Developments

Date	Approach	Development
April 2020	Contract	Lufthansa Technik signed a contract with BOC Aviation to engine MRO services for the latter’s aircraft fleet.
March 2020	Contract	Lufthansa Technik signed a contract with Red Wings Airlines to provide engine MRO services for the IAE V2500 and CFM56-5B engines of the airline’s Airbus fleet.
November 2019	Contract	Lufthansa Technik signed a contract with Nova Airlines AB (Novair) to provide engine MRO services for CFM International LEAP-1A engines equipped on the latter’s two Airbus A321neo aircraft
November 2019	Agreement	Lufthansa Technik signed an agreement with Japan Airlines (JAL) to provide APU maintenance services for the airline’s Airbus A350 fleet.
March 2019	Product Launch	Lufthansa Technik launched AVIATION DataHub, a platform that enables airline operators and MRO companies to collect, compile, and process important technical data. The launch of the platform enabled the company to offer enhanced services to its aviation customers.
February 2020	Expansion	Lufthansa Technik started the development of a new site for the repair and overhaul of aircraft engine parts in Miskolc, Hungary. The development of the new site will enable the company to strengthen its MRO network.
January 2020	Agreement	Lufthansa Technik signed a 25-year agreement with FADEC Alliance, a joint venture between GE Aviation and FADEC International, to provide Full Authority Digital Engine Controls (FADEC) services for LEAP engines globally.
November 2019	Contract	Lufthansa Technik AG signed a contract with Royal Jordanian Airlines to provide landing gear repair and overhaul services to the carrier’s Airbus A350 fleet.
October 2019	Agreement	Lufthansa Technik AG signed an agreement with Collins Aerospace to provide landing gear repair and overhaul services for the Airbus A380 fleet.
December 2018	Contract	Lufthansa Technik AG signed a contract with the Korean low-cost carrier Eastar Jet to provide total component support for its new fleet of Boeing 737 MAX aircraft.
July 2017	Expansion	Lufthansa Technik Philippines (LTP) expanded its operations by building a second MRO base at another major airport in the country.

Product Offering

Lufthansa Technik
- Aviation Engine MRO
- Component MRO Services

Financial Performance

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