Maintenance and Modifications
Lufthansa Technik Reports Record Earnings in 2022
Aircraft maintenance and completions firm Lufthansa Technik reported record earnings in 2022 and is bullish on VIP refurbishment work.
Lufthansa Technik VIP interior completions employee works on wood finish in the company's back shop
Lufthansa Technik is investing millions of Euros in a new interiors workshop and adjoining paint center at its Hamburg completion center, slated to be completed in 2025. (Photo: Lufthansa Technik)

Lufthansa Technik (LHT) late last week reported “significantly” higher revenue and earnings in fiscal 2022 of €5.6 billion and a record-setting €511 million, respectively. This was “despite a challenging environment” of supply-chain bottlenecks and skilled labor shortages, according to the company.

For the year, the Hamburg, Germany global MRO signed 706 new contracts worth €9.6 billion and ended 2022 with 4,242 aircraft operated by some 800 customers under service contracts. After trimming its workforce of 25,000 by 20 percent following the pandemic, LHT hired more than 2,100 employees last year and plans to add some 4,000 more this year.