Cost Management Key To Growth, Says LHT

Lufthansa’s cost-cutting and streamlining programme, SCORE, was “an important factor” in Lufthansa Technik (LHT) securing its €392m ($414m) operating profit last year, according to the company’s chief executive of finance, Dr Peter Jansen.

Lufthansa’s cost-cutting and streamlining programme, SCORE, was “an important factor” in Lufthansa Technik (LHT) securing its €392m ($414m) operating profit last year, according to the company’s chief executive of finance, Dr Peter Jansen.

He also confirmed that it would continue to be a key focus this year:

“Following our successful cost and efficiency management in 2014, the continuation and implementation of all the various SCORE measures will naturally remain on the agenda.”

His comments came as LHT revealed more details of its 2014 results, including that it secured 30 new customers last year and agreed 325 new contracts, worth a total of €3.1bn ($3.3bn).

While lauding the MRO’s success in 2014, outgoing chairman August Wilhelm Henningsen stated: “In spite of a good year for global aviation on the whole, price pressures on technical services providers have not let up.”

TAGS: Europe
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