Lufthansa Technik Philippines (LTP) signed multiple contracts with a number of air carriers in line with its goal to be the leading maintenance, repair and overhaul (MRO) provider in the country.
The deals were signed with Philippine Airlines (PAL), Lufthansa Airlines, Korean Air and Asiana Airlines, reported The Philippine Star.
Lufthansa Airlines, the largest German airline, has tapped the services of aircraft service provider LTP in an agreement formalized on June 24, 2018. The contract covers heavy base maintenance checks of its Airbus A380 Aircraft.
“This latest deal caps off a fruitful A380 program for the MRO provider, as it comes at the heels of other customers who contracted LTP for their base maintenance services as well as Korean Air and Asiana Airlines,” LTP said.
For both carriers, LTP is set to conduct base maintenance checks for its Airbus A380 planes for the next several years. LTP expects to generate more than $200 million from all its A380 contract, creating more than 500 jobs within the company.
“With plans to expand its operations and facility, LTP is seeking to ramp up its capabilities and to aggressively capture future market opportunities,” the company said.
Last May, PAL tapped LTP to maintain its new Airbus jets, through the signing of a 12-year milestone agreement with an estimated contract volume of more than $260 million.
The agreement formalizes the assignment of line maintenance services for PAL’s incoming A350s and A321 Neos, which took effect beginning May 31.