GF, Lufthansa Technik in maintenance deal
Deutsche Lufthansa unit Lufthansa Technik has won a maintenance deal worth around 100 million euros ($129 million) over five years from Middle East airline Gulf Air.
Lufthansa Technik which maintains, repairs and overhauls planes confirmed a report to be published in Tuesday’s Handelsblatt business daily, saying it was Lufthansa Technik’s biggest Middle East contract yet.
Under the deal, Lufthansa Technik will overhaul and manage over 1,400 different components for more than 30 Gulf Air planes, a mixture of Airbus and Boeing aircraft, he said.
Lufthansa Technik said last week price pressure in the industry this year would make it hard for it to match last year’s results, when its operating profit rose by one-third to 207 million euros.