Press Release 

A strongly positioned Lufthansa Technik aims to grow further 

  • Earnings grow to new record level - adjusted EBIT exceeds 600 million euros for the first time  
  • Revenue back to pre-Covid level at 6.5 billion euros 
  • CEO Soeren Stark: We have made a comeback and found new strength 
  • Contracts concluded with new business totaling 8 billion euros 

Lufthansa Technik AG significantly increased both revenue and earnings in the 2023 financial year despite a persistently challenging environment. At 628* million euros (previous year: 554 million euros, up 13%), Adjusted EBIT once again set a record. Revenue grew by around one billion to 6.547 billion euros (previous year: 5.550 billion euros, up 18%), returning to the pre-Covid level of the record revenue year 2019. 

Lufthansa Technik benefited from the high demand for aircraft maintenance, repair and overhaul (MRO). The company utilized the dynamic development in air traffic worldwide for further growth despite the tense situation with suppliers and with the recruitment of qualified personnel and underlined its claim to remain the dominant player in the MRO sector. 

Great ambitions for the coming years  

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, says Soeren Stark, CEO of Lufthansa Technik. 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.  

The program for the coming years includes investing extensively in the expansion of the core business, expanding sites and the international presence by potentially making acquisitions, as well as expanding digital business models. We aim to increase our revenue to over 10 billion euros with a double-digit earnings margin by 2030, says Soeren Stark. Our goal is to generate earnings of over billion euros. The technical support business for engines and aircraft components will be a disproportionately high growth driver. 

Record number of new contracts 

Customers are rewarding the efforts to constantly develop Lufthansa Technik further. Last year, the company signed some 1,000 new contracts with a contract volume of 8 billion eurosThis included signing new long-term contracts for the supply of components with several airlines. For example, an agreement was concluded for the first time between Hawaiian Airlines and Lufthansa Technik for the supply of components for the airline's Airbus A330ceo and A321neo fleets. As a result, Lufthansa Technik is further expanding its market share in the area of MRO services for Airbus aircraft in the United States. 

Lufthansa Technik has also expanded its collaboration to support Emirates Airbus A380s, of which the Dubai-based airline is by far the largest operator. Up to October 2026, Lufthansa Technik will overhaul a further 23 Emirates A380s at Lufthansa Technik Philippines in Manila, as well as the main landing gear of the A380 at Lufthansa Technik Landing Gear Services UK in London.  

Lufthansa Technik demonstrates its leading role in engine maintenance with the first overhaul of a LEAP-1B engine, the powerplant of the Boeing 737 MAX. Lufthansa Technik was the first independent MRO provider worldwide to conclude a service agreement for the two engines LEAP-1A (Airbus A320neo) and LEAP-1B, thus securing access to the fleets of the future. 

2023 was the second-best sales year yet. At the end of the financial year, Lufthansa Technik was providing support for some 4,600 aircraft under long-term component contracts. We remain the partner of choice for hundreds of airlines around the world. We would like to thank our customers for the trust they have placed in us, says Soeren Stark. This trust is what motivates us to stay on our successful course. With our passion for aviation and the enthusiasm of our many thousands of employees for the company, we are confident that we can exploit our opportunities. 

Number of employees to increase to nearly 25,000 

Lufthansa Technik's employees remain the foundation of its success. Last year, 22,870 people worked for the company worldwide. This increased the number of employees by nearly 2,500 compared to last year and is expected to increase to nearly 25,000 in the course of this year. We would like to thank our employees for their special commitment and their willingness to constantly change and improve our company, says Soeren Stark.  

Lufthansa Technik responds to the high demand for qualified specialists with various national and international recruiting measures. The company is also exploring new avenues. Last year, for example, the Senior Experts program started, which specifically addresses people of retirement age who previously worked at Lufthansa Technik or other companies and who would like to continue contributing their expertise after the regular end of their careers. 

To meet the high demand for skilled workers, Lufthansa Technik is providing more training for people with a technical or skilled trade background and is investing in a corresponding training center in Hamburg, among other things. The Women@LHT program aims to strengthen diversity in the working environment and attract more women to Lufthansa Technik. Trainees are also being recruited on a large scale. In 2023, more than 220 junior employees started at the German sites alone. 

New offers and business areas 

Lufthansa Technik is also focusing on its economic future. The company is continuously expanding its core business with offers such as Mobile Engine Services (MES), investments in new generations of technology, and the modernization of sites. New business areas, technologies and digital solutions are also being systematically developed and established. The Digitize the Core initiative is also driving forward digitization within the company. Business processes and workflows are to be made more efficient with the help of digital technologies. 

Lufthansa Technik is playing a key role in shaping digital transformation in the technical operation of aircraft with its “Digital Tech Ops Ecosystem” by supporting airlines in fleet management and fleet support with single-source solutions. What began as a start-up idea has now become a business success: revenue has doubled and the division is expected to break even this year. Over 1,000 employees work for the Digital Tech Ops Ecosystem, whose elements are used by over 120 customers with over 11,000 aircraft. More than ten customers already trust the entire EcosystemIt consists of AVIATAR, the platform for data-based analytics solutions, flydocs as the digital records & asset solution, and Swiss Aviation Software AG as the global market leader in the field of maintenance & engineering/MRO software with its AMOS product. 

Lufthansa Technik also has its own technological answers to the central challenge of long-term decarbonization of aviation, such as with the AeroSHARK aircraft coating, which is used by Lufthansa Cargo and SWISS to help reduce CO2 emissions on a daily basis. Meanwhile15 Boeing 777s have been modified with AeroSHARK, each with more than 800 square meters of the riblet filmOnce the corresponding fleets have been entirely modified, it will be possible to save more than 8,000 tons of fuel and over 25,000 tons of CO2 per year.  

In addition to services for civil and commercial aircraft operators, Lufthansa Technik is pressing ahead with the expansion of the new Defense business unit. We are delighted that we have succeeded in expanding our partnership with the German Armed Forcesand we also want to do more to support them beyond the Special Air Mission Wing, says Soeren Stark. The company is now also a member of the industrial teams for the CH-47 Chinook heavy transport helicopter and the F-35 Lightning II fighter. In addition Lufthansa Technik is an important partner for the PEGASUS project, the future signals intelligence aircraft of the German Air Force. The company will also be actively involved in the technical support of the German Navy's new P-8A Poseidon maritime patrol aircraft. Lufthansa Technik has been supporting the Special Air Mission Wing for more than 60 years. Last year, Lufthansa Technik delivered another new Airbus A350 government aircraft, the Theodor Heuss. 

 * All figures in this press release relate to Lufthansa Technik AG and its fully consolidated companies. 

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Annual figures 2023
Dr Jens Krueger, Head of Corporate Communications, Marketing and Political Affairs

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Dr. Jens Krueger

Head of Corporate Communications, Marketing and Political Affairs

Lufthansa Technik AG | Hamburg, Germany