Air Transport
Lufthansa Technik (LHT) is warning that falling yields in the maintenance, repair and overhaul market due to stiff competition and the lower support requirements of latest-generation aircraft mean it will not be able to match 2005’s strong financial performance during the current year. LHT still relies on parent Lufthansa for 42% of its revenues. Chairman August Wilhelm Henningsen says LHT will continue to attack costs and expand its global presence “to maintain our position”. However, “it’s going to be difficult to repeat the good result of 2005”. Turnover last year rose 2% to g3.1 billion ($3.72 billion), but profit surged 26% to g259 million.
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