Lufthansa Technik on track to meeting 2022 revenue target

UPTREND The aircraft maintenance firm expects to log 1.3 million manhours this year. —Photo from Lufthansa Technik Philippines.

Aircraft maintenance, repair and overhaul (MRO) provider Lufthansa Technik Philippines (LTP) is on track to meeting its operational goal this year with the resurgence of air travel boosting the demand for their services.

Stefan Yordanov, vice president for finance, strategy and corporate projects of LTP, told the Inquirer they were approaching 1.3 million man hours of service maintenance this year.

“By the end of the year, we would have completed more than 100 aircraft layovers and we would be very close to the mentioned 1.3 million man hours,” he said.

In August, the company said they clocked in about 600,000 man hours of maintenance work on clients’ airliners.

The turnaround period for maintenance checks ranges from five days to a month, depending on the condition of the aircraft.

Earlier this year, LTP—a joint venture between MacroAsia Corp. of tycoon Lucio Tan and Germany’s Lufthansa Technik AG—inaugurated a 9,000-square-meter hangar in Pasay City after nearly two years of delay due to the pandemic.

The hangar, which added three lines to its existing seven base maintenance lines, services commercial aircraft of short- to long-haul capacities, such as Airbus A320, A330, A380 jets and the Boeing 777.

Planned expansion

Elmar Lutter, president and CEO of LTP, previously told reporters they were planning to expand their footprint outside the National Capital Region.

“We will seek discussions with possible partners and explore possibilities in the Philippines and beyond with the end in mind to add affordable high-quality MRO to our region and deliver safety and reliability to our customers,” he said earlier.

In the first three quarters, MacroAsia registered P259.55-million net earnings, a turnaround from P371.51-million net losses in the same period last year.

Consolidated revenues for the nine-month period improved by 133 percent to P3.21 billion, which was mainly driven by in-flight and other catering revenues that grew by 268 percent to P1.47 billion.

Ground-handling and aviation services revenues improved by 75 percent to P1.33 billion for the period from last year’s P761.53 million because of higher flight volume.

Management expects to sustain its this uptrend. INQ