Lufthansa Group's executive board has decided not to pursue plans to sell a minority stake in Lufthansa Technik because an evolving engine market will open up new prospects for the MRO specialist. As previously reported, the group has long sought an investor to take over 20% of its maintenance subsidiary which has been valued at up to EUR7 billion euros (USD7.7 billion).
With the new strategy, it hopes to grow without the help of outside investors.
Detlef Kayser, chairman of the Supervisory Board of Lufthansa Technik, said: "In view of the ongoing manufacturer problems - especially with engines - the strategic value of our Lufthansa Technik as an integral part of the Lufthansa Group has again increased significantly in recent months. We see this as a great opportunity to further develop our MRO division strategically with an ambitious growth program and to further increase its profitability."
Lufthansa Technik has ten base maintenance locations on three continents: Aguadilla, Berlin Brandenburg International, Budapest, Frankfurt International, Hamburg Helmut Schmidt, Malta International, Manila Ninoy Aquino International, Milan Malpensa, Munich, and Sofia.
