Finance, Taxes, Insurance
Lufthansa Technik Suffers Steep Losses on Pandemic Woes
The MRO arm of the Lufthansa Group attributes its product and customer diversity and investments in digital platforms for its ability to counter Covid-19.
The first German Air Force Airbus A350 arrives at Lufthansa Technik's Hamburg facilities in May 2020 for cabin outfitting. (Photo: Kai Hager for Lufthansa Technik)
The first German Air Force Airbus A350 arrives at Lufthansa Technik's Hamburg facilities in May 2020 for cabin outfitting. (Photo: Kai Hager for Lufthansa Technik)

Lufthansa Technik swung into a full-year loss in 2020 and revenue plummeted 43 percent year-over-year, but executives of the world’s largest MRO provider expressed optimism it can maintain its leading position thanks to its diverse portfolio, its international footprint, and investments in its Aviator platform for digital products and services. Speaking at the company’s annual press conference on Monday, Lufthansa Technik CEO Johannes Bussmann described last year as “the toughest in our company’s history.” Nevertheless, he added, the MRO giant could end the year “with some confidence.”