Lufthansa Technik AG once again generated record figures in the 2024 financial year and at the same time set a decisive course for the future. The company's revenue exceeded seven billion euros for the first time, specifically 7.441 billion euros, at the end of the year (previous year: 6.547 billion euros, up 14%). Earnings (Adjusted EBIT) also achieved a record with 635 million euros (previous year: 628 million euros, up 1%). The global market leader in aircraft maintenance, repair and overhaul is driving the business of the future forward with the construction of two new plants in Portugal and Canada, among other things. New contracts with a volume of almost eight billion euros also testify to the continued trust of more than 800 customers worldwide.

“These are figures we can be proud of, as they show that our range of products and services offers the right answers to major challenges such as material bottlenecks, delivery delays and the global shortage of skilled workers,” says Soeren Stark, CEO of Lufthansa Technik. “With a volume of well over 100 billion euros, our market also remains highly attractive. As the global demand for air travel and new aircraft continues unabated despite geopolitical uncertainties, we also expect significant growth in the coming years.” The goal of Lufthansa Technik's “Ambition 2030” program is to increase revenue to over ten billion euros and Adjusted EBIT to more than one billion euros in 2030.

Investments worth billions of euros will be made in the coming years in order to make the growth plans a reality. In Portugal, the company is investing around 300 million euros in a new plant near Porto with up to 700 jobs, which will create urgently needed capacity for the repair of aircraft components and engine parts. In Calgary, Canada, a site will be built to service the state-of-the-art LEAP-1B aircraft engines which power the Boeing 737 MAX. The first customer will be the Canadian airline WestJet, with whom Lufthansa Technik has concluded one of the largest single contracts in the company’s history.

In the USA, Lufthansa Technik has begun to expand its site in Tulsa (Oklahoma) by investing in new buildings and additional capabilities for servicing aircraft generators, and has also added the maintenance of heat exchangers to its portfolio with the acquisition of ETP Thermal Dynamics. The company headquarters in Hamburg will remain the heart of Lufthansa Technik – and will be extensively modernized. Triple-digit million euro sums are also being invested here. “It is the largest modernization program that this site has ever seen and is a crucial step in developing our headquarters into one of the most modern sites in the industry,” says Soeren Stark.

In addition to expanding its global presence, Lufthansa Technik is also focusing on digitization. The “Digitize the Core” program will drive forward the internal transformation of the business. The company also holds a unique position when it comes to digital products, as it is the only company to offer digital solutions for all technical airline operations. The “Digital Tech Ops Ecosystem” consists of three components, which can also be purchased individually by customers: AMOS, the leading engineering and maintenance software, flydocs with solutions for the digitization and storage of aircraft-related documents, and the AVIATAR platform, which offers a wide range of products and services that enable customers to manage and add value to the data stream from flight operations. The Ecosystem already supplies a total of 11,000 aircraft worldwide.

Lufthansa Technik is also expanding into new fields such as the defense business and is also focusing on new products for commercial airlines beyond digitization. The company is now a “Boeing-Licensed Service Center” (BLSC) for modifications to the Dreamliner, the Boeing 787. Innovations in the area of sustainability are also having an impact. LATAM (South America), ANA, and EVA Air (both Asia) are the first airlines outside the Lufthansa Group to have equipped aircraft with AeroSHARK. AeroSHARK is a surface film jointly developed by Lufthansa Technik and BASF that replicates the microscopic structure of sharkskin and reduces aerodynamic drag, thereby saving fuel.

The year 2024 was Lufthansa Technik's 30th business year as an independent company and marked the continuation of a success story that would be unthinkable without its many employees. As of the end of December, there were exactly 24,499 employees worldwide. “We need employees who are among the best in their field. That's why we rely on our own training and targeted recruitment programs,” says Soeren Stark. “A special thanks goes to all the people who are already working for us – for their commitment and their willingness to constantly change our company. They are the ones who make our success possible in the first place.”