Lufthansa Technik (LHT)has taken a step closer to its goal of establishing a maintenance joint venture in Manila following the signing of letters of intent with Philippine Airlines (PAL)and logistics company MacroAsia.
Formal approval of the plan by the boards of all three companies is expected "within a couple of months" following the completion of due diligence, says LHT. The new venture would be an independent maintenance provider, servicing PAL's aircraft as well as those of third party customers.
LHT declines to specify the likely ownership structure of the new company or the date that operations would begin. The German company has expanded aggressively into Asian maintenance markets and operates joint ventures in China and Taiwan.
Publicly listed MacroAsia has a joint venture with Cathay Pacific Catering Services in Cebu, and with Singapore Airport Terminal Services and Eurest International in Manila.
It is also involved in the provision of ramp and passenger handling services at Manila's airports through a recently formed joint venture with Ogden Aviation.
Source: Flight International
