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MTU Maintenance signs V2500 MRO contract with Asiana Airlines

Seoul, September 28, 2018 – MTU Maintenance, the global leader in customized solutions for aero engines, signed a five-year V2500 contract with Asiana Airlines today. The contract covers the maintenance, repair and overhaul of 40 percent and engine trend monitoring for all of Asiana Airline and its subsidiaries’ V2500 fleet. The deal is worth around 245 million euros.

“We are delighted to have signed a contract with Asiana Airlines,” says Michael Schreyögg, Chief Program Officer, MTU Aero Engines. “MTU Maintenance established a representative office in Seoul over a year ago and is successively expanding its presence worldwide. We take this agreement as a clear sign that our strategy of being close to the customer is appreciated.”

Asiana Airlines is a South Korean passenger and cargo carrier operating domestic and international flights for approximately 100 routes. The airline and subsidiaries have a combined fleet of 125 V2500 engines, including spares, operating on their A321 aircraft. “We are delighted to have strengthened our relationship with MTU Maintenance,” says E-Bae Kim, Executive Vice President – Corporate Support, Asiana Airlines. “We have worked together on engine maintenance in the past and received excellent service throughout that period. Asiana Airlines looks forward to building on this successful history with the new V2500 agreement. We are sure that MTU Maintenance will continue to provide the highly-customized and intelligent MRO support we have come to rely on.”

MTU Maintenance provides MRO services to 35 percent of the world’s V2500 fleet in Hannover, Germany, Vancouver, Canada, and Zhuhai, China – making it the number one service provider worldwide. The engine MRO specialist has over 19 years’ experience on this engine family, has completed over 4,800 shop visits in that timeframe and serves over 90 V2500 customers.

About MTU Aero Engines

MTU Aero Engines AG is Germany’s leading engine manufacturer, with core competencies in low-pressure turbines, high-pressure compressors, turbine center frames, manufacturing processes and repair techniques. MTU plays a key role in the new engine market through its partnerships in many international development, manufacturing and sales programs, to which it contributes its high-tech components. One third of the global fleet of passenger airliners relies on components supplied by MTU. MTU is one of the world’s top 5 providers of maintenance services for commercial aircraft engines and industrial gas turbines. These activities are combined under the roof of MTU Maintenance. In the military sector, MTU Aero Engines is the lead industrial partner for almost every type of engine flown by the German armed forces. MTU operates affiliates around the globe; its corporate headquarters are based in Munich, Germany.

About Asiana Airlines

Asiana Airlines was founded in 1988 and has been awarded 5 stars by Skytrax for 12 consecutive years since 2007. Headquartered in Seoul, South Korea, Asiana Airlines operates 77 international passenger routes to 64 destinations in 22 countries and 25 cargo routes to 26 cities in 11 counties. The airline is operating cutting-edge A350s with in-flight connectivity to popular destinations including Hanoi, LA, San Francisco, Seattle and London. Celebrating its 30th anniversary this year, Asiana Airlines aims to cement its leading position in long-haul routes, commencing new direct flights to Venice and Barcelona in 2018. Asiana Airlines became a Star Alliance member in 2003. For more information, please visit flyasiana.com/C/KR/EN/index

Michael Röger
Vice President Investor Relations
Phone: +49 (0) 89 1489 8473
michael.roeger@mtu.de
Claudia Heinle
Senior Manager Investor Relations
Phone: +49 (0) 89 1489 3911
claudia.heinle@mtu.de
Matthias Spies
Senior Manager Investor Relations
Phone: +49 (0) 89 1489 4108
matthias.spies@mtu.de