Lufthansa Technik sees annual revenue increase and an improving market

Revenue grew by 1.4 percent to EUR 4.02 billion. However, the company's result did not quite meet the record level of the previous year owing to extremely intensive price pressure and customer orders that were withdrawn. The annual report of the 21 companies consolidated under the Lufthansa Technik name shows an operating result of EUR 268 million for the Group.

"Lufthansa Technik survived the economic and financial crisis relatively well through increases in efficiency, high utilization of flexible working hours, and process innovations," said Lufthansa Technik AG's CEO, August Wilhelm Henningsen, on March 22, 2011 in Hamburg. "Operatively, the smooth introduction of Lufthansa's new Airbus A380 flagship was a particular high point for us in 2010, and we've continued to solidify our position as the world's market leader in the global maintenance, repair and overhaul (MRO) business."

"During the second half of the year in particular, we were able to continue our course for growth and increase our business with customers outside the Lufthansa Group by 3.3 percent. However, since price pressures remained extremely intensive and some customers postponed or even withdrew orders, we were, as expected, unable to
meet the high levels of the previous year." The decline in business amounted to 15 percent.