Aviation360 MEA

Stark didn’t specify the kind of financial partner the company would seek, but he claims that any choice won’t be affected by the group’s ability to profit. We’re looking for a second shareholder who can strengthen us further and has complementary skills, he adds.

The German MRO provider released its full-year results today. A 41% rise year over year from the €362 million reported in 2021, it showed earnings of €511 million ($544 million). Revenues increased by 39% from the prior year’s €4 billion to €5.6 billion.

The company’s financial improvement was attributed to a number of factors, including a restructuring program implemented during the pandemic, a favorable U.S. dollar conversion rate, and LHT’s dominant market position.

With a total of 706 new contracts signed and 28 new customers acquired over the course of a year, the business reported new contracts worth €9.6 billion last year. More than twice as much as the Americas area and roughly five times as much as Asia-Pacific, it believes that the regions of Europe, the Middle East, and Africa accounted for nearly two-thirds of this new business.

Overall, it is serving more than 800 customers by the end of 2022 and more than 4,200 aircraft.

Component repair contracts with three ultra-low-cost carriers in the Indigo Partners group are among the significant agreements from the previous year that are mentioned. Through these contracts, Lufthansa Technik will maintain about 1,000 Airbus A320 family aircraft over the following ten years.

About one-third of new revenue last year came from contracts with airlines within the Lufthansa Group; the other two thirds came from clients outside the organization.

LHT claims that because it is in a strong situation, it intends to expand its business not only in Europe but also in the Americas and Asia-Pacific. Additionally, it has plans to hire new employees globally this year, including 2,000 workers in Hamburg to help with capacity ramp-ups and an additional 2,000 workers throughout its global network.

However, Stark admits that there are problems with the global job market and that supply chain issues won’t go away by the end of the year. The scope of the recovery “caught not only us, but many of our vendors by surprise,” says Stark. “This meant that they frequently encountered supply chain disruptions, and it was challenging to find skilled workers. Bottlenecks will presumably continue into the following year.