Press Archive 2005

Munich – The holders of the 8¼% Senior Notes of MTU Aero Engines Investment GmbH have consented to amendments relating to certain provisions of the terms of  the Senior Notes with a majority of 79,6% (minimum consent rate is 50%). As a result MTU will, as of today, be able to satisfy its reporting obligations in connection with the Senior Notes by providing consolidated financial and other information with respect to MTU Aero Engines Holding AG, MTU Aero Engines Investment GmbH's immediate parent. This will reduce the burden of administration, reporting, book-keeping and auditing.

Read more

Munich –The supervisory board of MTU Aero Engines Holding AG in today's meeting appointed Dr. Rainer Martens to the board of management for three years, effective as of July 1, 2006. Dr. Martens will take over the engineering and production responsibilities of Dr. Michael Süß, whose contract will expire in 2006.

Read more

Vancouver – CanJet Airlines’ fleet of B737-500 aircraft will have all of its CFM56-3 engines repaired and overhauled by MTU Maintenance Canada. Valued at 20 million euros ($27.6M Cdn), the contract involves 16 engines operated by CanJet and leased from Ft.Worth, TX- based aircraft lessor Q-Aviation.  The term of the contract is five years, with optional renewals and it was inked in late November this year.

Read more

Munich – MTU Maintenance Hannover has cracked the Asian CF6-50 market: the first Asian customer to have CF6-50 engines maintained by the MTU MRO experts is Biman Bangladesh Airlines. The deal involves 19 CF6-50C2s, including spare engines. The value of the three-year contract is 40 million euros. The first Biman engine is expected to show up in Hannover in early December.

Read more

Bonn – MTU Aero Engines is expanding its military engine maintenance activities. The company has signed a contract with the German Federal Office of Defense Technology and Procurement (Bundesamt für Wehrtechnik und Beschaffung - BWB) on the expansion of the existing industry-military cooperative model of engine maintenance ("Cooperative Model"). The agreement widens the scope of maintenance, which had so far involved only the Eurofighter EJ200 engine, to include also the RB199 (Tornado), J79 (Phantom) and RR250-C20 (BO 105 helicopter) powerplants, all of which will be repaired under MTU's industrial leadership. The ten-year contract is worth totally 370 million €, of which approximately 100 million € are additional sales for MTU. The Bundeswehr (German armed forces) will save 37 million € through the deal.

Read more

Munich – MTU Aero Engines Holding AG continues to be on a growth track. In the first nine months of 2005 the company increased its sales as compared with the prior year period by 12 %, from 1,384.3 million € to 1,545.6 million €. The operating profit (EBITDA - earnings before interest, taxes, depreciation and amortization) saw an above-average increase by 35 %, from 123.5 million € to 166.6 million €. Cash flow from operating activities increased 215 %, from 95.2 million € as of September 2004 to 300.0 million € as of September 2005. “Also in the third quarter of 2005, MTU Aero Engines has continued its positive upward trend with strong growth in earnings. The targets which we had set ourselves for the first nine months of this year were achieved and even bettered,” states Udo Stark, President and CEO of MTU Aero Engines Holding AG.

Read more

Munich – On Wednesday, November 23, 2005, MTU Aero Engines will repay 30 million euros of its high-yield bond. Repayment will be made at the contractually agreed rate of 108.25 percent plus accrued interest. The remaining portion of the bond then will stand at 165 million euros.

Read more

Munich – Upon a proposal by the holding, the Munich register court has named Dr. Jürgen M. Geißinger, President and CEO of INA-Holding Schaeffler KG, Herzogenaurach, Germany, to the supervisory board of MTU Aero Engines Holding AG, effective October 4, 2005.

Read more

Munich / Kuala Lumpur – Airfoil Services Sdn. Bhd. (ASSB), an MTU Aero Engines and Lufthansa Technik affiliate, is going to extend its activities: novel advanced repair techniques and a wider product portfolio will grow the Kuala Lumpur operation's sales, now standing at almost U.S. $5 million, to four times its present level, or $20 million, by 2010. The shop hopes to attract new customers and add more people to its payroll. ASSB specializes in the repair of aero engine blades for mostly MTU's maintenance segment and Lufthansa Technik.

Read more

Munich - MTU Aero Engines will be retrofitting 40 T64 engines powering the German armed forces’ CH-53 helicopters. Worth some 20 million euros, the recently concluded deal follows up on a 2003 agreement MTU has with the services to retrofit 46 T64-7 engines to the -100 standard. The first tranche is nearing completion. A third one is scheduled: The follow-up order for the optimization of another 40 engines is slated in 2007 or 2008.

Read more