Lufthansa expects MRO division to stay profitable in 2010

This story is sourced from Pro
See more Pro news »

Maintenance firm Lufthansa Technik was able to increase its operating profit last year, as Lufthansa's passenger airline operation slumped to just below break-even.

Lufthansa Technik posted a 5.7% increase in operating profit to €316 million ($432 million).

"As a sector that is affected with a delay by the economic cycle, it is sure to feel some effects of the crisis in 2010," says Lufthansa chief financial officer Stephan Gemkow. "But it is prepared for them."

He forecasts another "clearly positive" result for the company this year, "even though it appears ambitious to reached the revenue and result level which has now been achieved".

Gemkow adds that the maintenance division should be able to return to an increase in revenues and operating result in 2011.