Lufthansa Technik plans investments of E1.2b in the next four years

Lufthansa Group’s engineering unit Lufthansa Technik plans to invest E1.2b in the next four years to support its “Ambition 2030” strategic growth plan. The Hamburg-based MRO unit said on 12 March that after Lufthansa last November scrapped plans to divest a partial stake of the company, it is positioning itself to grow both organically, including building a new facility in Europe, as well as through possible acquisitions. As if to prove the company’s ability to go it alone, it posted record full-year earnings before interest and tax of E628m on revenue of E6.5b in 2023, 18% higher than the previous year. The figures are in line with pre-pandemic results, the company says. “We made the best possible use of the past year and made a comeback and found new strength after the debilitating years of the Covid crisis,” Soeren Stark, Lufthansa Technik’s CE says. “We want to continue to grow from this position. We still have big plans for Lufthansa Technik and with Ambition 2030 we have developed an ambitious plan that we are in the process of implementing.” Ambition 2030 plans for the company to almost double its revenue to more than E10b and profit to more than E1b by the end of this decade. To do that, Stark says the company will focus on its core business, expand its international presence through acquisitions and also expand its digital business models.<br/>