Lufthansa Technik Philippines (LTP) is upbeat about the prospects of the aircraft maintenance, repair and overhaul (MRO) industry in 2023 with the growing demand for air travel after pandemic-induced lockdowns grounded several flights in recent years.
Stefan Yordanov, LTP vice president for finance, strategy and corporate projects, told the Inquirer they were seeing double-digit volume growth next year, driven by its key markets.
“For our base maintenance operations with new capacities in place we look to achieve about 30 percent more volume growth compared to 2022, coming from our traditional customers from Asia-Pacific, Europe and Middle East,” he said.
Yordanov recently said the company was on track to reach 1.3 million man hours of service maintenance this year, in line with its 2022 target.
“Almost all countries have eased up their travel restrictions and passengers feel safe and willing to fly again,” he explained.
The positive outlook is seen extending until next year, Yordanov said.
“With the growth in travel demand, airline operators are bringing back aircraft into operations which then drives higher maintenance or MRO requirements,” he explained. INQ