Maintenance firm Lufthansa Technik has turned in a profitable first half, although its operating result was down by nearly 9% to €144 million ($203 million).
The figures were the brightest point in a dismal six months for the German flag-carrier, which barely broke even on an operating level while its cargo arm posted an operating loss of €134 million.
Revenues for the maintenance division, however, were up by 14.5% to more than €2 billion in the six months to 30 June. About 60% of this was generated externally.
The company's fleet under management rose by 21% to just under 2,000 aircraft after it sealed 20 new customers and 275 new contracts, worth €373 million, in the first half.
Lufthansa Technik partly attributes the fall in profit to lower earnings from its associated company Alitalia Maintenance Systems.
Source: Air Transport Intelligence news
