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Irish Arm Of Lufthansa Group Sees Pre-Tax Profits Jump By 27%

By Publications Checkout

The Irish arm of the Lufthansa Group has seen its pre-tax profits increase by 27% to just under €60 million following a surge in revenues.

As reported by The Irish Times, accounts filed by Lufthansa Technik Airmotive Ireland Holdings Ltd have revealed that the Irish business's revenues increased by 12.6% to $217 million.

The Irish business, which is comprised of aircraft overhaul, engine component repair and engine and aircraft leasing, saw the number of people it employs increase to 701 employees.

Broad Growth

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Last year, the Irish business's overhaul business opened a technical campus to support additional trainee classes in order to accommodate the business volumes the group expects in the future.

The engine component repairs segment reported turnover growth of 17% for last year.

The aircraft leasing segment saw also its revenues increase, by 6%, after the firm invested $74 million in new assets.

The directors of the group highlighted that the business returned to growth even though the group was delayed with its entry into the Dreamliner B787 aircraft market.

© 2019 Hospitality Ireland – your source for the latest industry news. Article by Aidan O'Sullivan. Click subscribe to sign up for the Hospitality Ireland print edition.

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Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue.
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