Financial Data

Annual Report 2023

Lufthansa Technik aims to grow further 

Lufthansa Technik AG significantly increased both revenue and earnings in the 2023 financial year despite a persistently challenging environment. At EUR 628* million (previous year: EUR 554 million, 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 growth in air traffic worldwide for further growth despite the tense situation with suppliers and the recruitment of qualified personnel and underlined its claim to remain the dominant player in the MRO sector. 

"We made the best possible use of the past year and made a comeback and found new strength after the debilitating years of the coronavirus 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.

Soeren Stark,

Chairman of the Executive Board (CEO)

6 547 *Revenue
628 * Adjusted EBIT
 ~  1 000new contracts

*in million €

Great ambitions for the coming years  

"With Ambition 2030 we have developed an ambitious plan that we are in the process of implementing," Soeren Stark continues. The program for the coming years includes investing extensively in the expansion of the core business, expanding locations and the international presence by potentially making acquisitions, as well as expanding digital business models. "We aim to increase our sales to over EUR 10 billion with a double-digit earnings margin by 2030," says Soeren Stark. "Our goal is to generate earnings of over EUR 1 billion. 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 EUR 8 billion. This 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 Emirate’s Airbus A380, 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.  

Lufthansa Technik demonstrated 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, we started the "Senior Experts" program, 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 locations 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 digitazation  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: turnover 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 10 customers already trust the entire Ecosystem, and a corresponding contract was recently signed by EtihadEcosystem 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 climate neutrality in aviation, such as with the AeroSHARK aircraft coating, which is used regularly by Lufthansa Cargo and SWISS to help reduce CO2 emissions on a daily basis. In the last 12 months, some 800 square meters of AeroSHARK film were applied to 14 Boeing 777s at Swiss and Lufthansa Cargo and they are already flying with this film. After all Group aircraft of these two types have been 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 Air Force, and we also want to do more to support them beyond the Special Air Mission Wing," says Soeren Stark. Joining two industrial teams as part of the procurement of the new heavy transport helicopter and the new F35 fighter aircraft for the Bundeswehr underlines this ambition. Lufthansa Technik is also an important partner for the Pegasus project, the air force's reconnaissance aircraft. A contract was signed in 2023 that marks the start of support for the new 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". 


Annual Report 2023

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Jahresbericht 2023

in German

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Annual Report 2022

PDF | 7 MB
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Dr Jens Krueger, Head of Corporate Communications, Marketing and Political Affairs

Your personal contact

Dr. Jens Krueger

Head of Corporate Communications, Marketing and Political Affairs

Lufthansa Technik AG | Hamburg, Germany