Press Archive 2017

• ICD rig begins test operations at DLR in Cologne
• New technologies for next-generation geared turbofan engines

Munich, December 19, 2017 – Making good things even better - under the European Clean Sky 2 research program, long-term partners MTU Aero Engines, German Aerospace Center (Deutsches Zentrum für Luft- und Raumfahrt (DLR)), and GKN Aerospace Engine Systems, Sweden have joined forces to enhance an engine’s compression system and make it lighter. The new technologies could already go into the next generation of geared turbofan engines. At the DLR site in Cologne, the test campaign on the ICD rig has now officially kicked off.

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• Low-pressure turbines and high-pressure compressors to be further enhanced
• Partnership with DLR and GKN Aerospace

Munich, December 14, 2017 – As the geared turbofans (GTFs) of the first generation are busy clocking up mileage in revenue service, MTU Aero Engines engineers already have their hands full working on the second generation: Under the European Union’s Clean Sky 2 research project, Germany’s leading engine manufacturer continues to enhance the fuel-efficient, low-emission, low-noise propulsion system, developing new technologies for two of its modules, the low-pressure turbine and high-pressure compressor. Two demonstrators are being built to validate the new technologies.

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Munich, December 12, 2017 – At its Investor and Analyst Day 2017, MTU Aero Engines AG provided a concrete outlook for the period to 2025. 2017 marks the end of the company’s most substantial investment phase, from which it emerged with an increased adjusted EBIT margin. In 2018, MTU will move into a consolidation phase during which the company expects a continuing rise in earnings and substantially higher free cash flows. Between now and 2025, the company aims to boost its average cash conversion rate into the high double digits through the combined effect of a moderate increase in working capital and a decrease in the cash flow from investing activities. The cash conversion rate measures the proportion of net income converted into free cash flow.

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• The JV company will be based in Poland
• Capacity to be over 400 shop visits of geared turbofan engines per year

Munich, December 5, 2017 – Lufthansa Technik and MTU Aero Engines have set up a joint venture for the maintenance, repair and overhaul (MRO) of geared turbofan engines, with each of the partners holding a stake of 50 percent in the new company. The name of the new JV is Engine Maintenance Europe, or EME Aero for short. The contract, which followed up on an agreement on the general principles of the cooperation signed in February 2017, was finalized by the two companies on December 4.

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• Expanding MTU Maintenance’s global footprint for the V2500-A5
• Strengthening its number one position in the V2500 market

Vancouver, December 4, 2017 – MTU Maintenance Canada has introduced V2500-A5 maintenance, repair and overhaul capabilities and is fully certified by the Transport Canada Civil Aviation Authority. The introduction of the engine line that serves the world’s A320 fleet is the result of an agreement between Pratt & Whitney, IAE and MTU Aero Engines. It enables MTU Maintenance Canada to serve the IAE aftermarket network for the life of the V2500 program. The first engine is already at the facility for overhaul. 

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Munich, October 26, 2017 – In the first nine months of 2017, MTU Aero Engines AG saw its revenues increase by 10% to €3,745.4 million (1-9/2016: €3,401.3 million). The group’s operating profit increased by 14% from €393.8 million to €450.6 million, improving the EBIT margin from 11.6% to 12.0%. Earnings after tax rose by 17% to €320.4 million (1-9/2016: €273.4 million).

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Munich, October 24, 2017 – MTU Aero Engines’ Executive Board will be reorganized, with the number of members increasing from three to four. This has been decided by the company’s Supervisory Board at its meeting on October 24. Effective January 1, 2018, Peter Kameritsch (48) has been appointed Chief Financial Officer and Chief Information Officer for a term of three years. Lars Wagner (42) will become the new Chief Operating Officer, also for a term of three years. Dr. Rainer Martens (56), who currently holds the position of Chief Operating Officer, will resign from his office by year’s end at his own request.

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• Germany carries out full maintenance concept based on civil aviation standards

Munich, October 10, 2017 – Over the next five years, MTU Aero Engines, Germany’s leading engine manufacturer, will maintain TP400-D6 engines from the Airbus A400M military transport aircraft for the German Armed Forces. The framework agreement is between the Federal Office of Bundeswehr Equipment, Information Technology and In-Service Support (BAAINBw) and MTU.

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Amsterdam, August 31, 2017 – On September 1, Alistair Dibisceglia takes over the role of Vice President and Head of Global Leasing at MTU Maintenance Lease Services B.V in Amsterdam. In this role, Dibisceglia is responsible for commercial and technical activities. He is looking to build on MTU Maintenance Lease Services’ offerings for lessors and lessees, as well as expand its technical asset management services in line with the company’s strategy.

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Munich, July 28, 2017 – MTU Aero Engines AG generated revenues of €2,548.0 million in the first six months of 2017, up 11% on the previous year (1-6/16: €2,299.2 million). The group’s operating profit increased by 26% from €254.1 million to €320.8 million, resulting in an EBIT margin of 12.6% (1-6/16: 11.1%). Earnings after tax increased by 29% from €176.1 million to €227.5 million.

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Ludwigsfelde, July 19, 2017 – MTU Maintenance, one of the world’s leading providers of services for commercial aero engines, and their new customer Air Burkina have signed an exclusive three-year maintenance agreement. The contract for the airline’s four CF34-8E engines from their E170 aircraft covers maintenance, repair and overhaul, on-site services and guaranteed spare engine leasing availability.

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Ludwigsfelde, July 6th, 2017 – MTU Maintenance, the world’s largest independent provider of maintenance services for LM series industrial gas turbines, has extended its exclusive contract with Sahacogen (Chonburi) Public Company Limited for the maintenance, repair and overhaul of its three LM6000PC gas turbines. The long-term service agreement is valued at over 35 million US dollars and runs until the end of 2023. It is the second extension the parties have signed in thirteen years.

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Munich, July 4, 2017 – From fiscal year 2017 on, large companies are required to publish social and environmental performance reports. A new law to that effect had been adopted by the German parliament in spring. Germany’s leading engine manufacturer started to disclose such information long before the law was passed. Since 2011, it has released annual sustain-ability reports outlining in detail how responsibly and sustainably the MTU Group goes about its business. Now MTU is publishing its 2016 Sustainability Report, the fifth of its kind. It combines the reports to the UN Global Compact and to the Global Reporting Initiative (GRI G.4) standards and is the first to cover the activities of all of the MTU Group’s fully consolidated companies. 

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Ludwigsfelde, July 3, 2016 – MTU Maintenance, one of the world’s leading providers of services for commercial aero engines, has completed its 1,000th CF34 engine repair and overhaul shop visit. The engine belongs to BA CityFlyer, who have been a customer of MTU Maintenance since 2010. The engine was returned to the airline, whose headquarters are in Manchester, as part of a celebratory ceremony with employees at MTU Maintenance Berlin-Brandenburg on Friday. 

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Vancouver, June 28, 2017 – MTU Maintenance, one of the world’s leading providers of services for commercial aero engines, and Mexican ultra-low-cost airline Volaris have signed an exclusive five-year contract for the management of the carrier’s V2500 engine accessories. The agree-ment covers accessory repair and coordination during engine shop visits on a fixed-price basis. Services will be performed at MTU’s Maintenance accessory repair center of excellence in Brit-ish Columbia, Canada. This new agreement builds on the outstanding business relationship that the two companies have shared since 2013.

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Munich, June 9, 2017 – MTU Aero Engines, Germany’s technology leader in aircraft propulsion systems, has revamped the concept for its exhibition booth at this year’s Paris Air Show. On the “Path of Excellence”, the company introduces visitors to the innovative high-tech products and services it is offering to support commercial and military engines throughout their entire life cycle.

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Vancouver, May 16, 2017 – MTU Maintenance Canada has recently installed and implemented a new test cell for high-flow pneumatic starter testing capabilities. The addition of this capability expands the existing engine, accessories, and Line Replaceable Unit (LRU) portfolio of MTU Maintenance, the largest independent provider of engine services worldwide, and provides customers with more integrated services, faster turnaround times, better logistics, and cost-efficiency.

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Munich, April 28, 2017 – MTU Aero Engines AG saw its revenues increase by 15% to €1,261.3 million in the first quarter of 2017 (1-3/2016: €1,097.9 million). The group’s operating profit improved by 20% from €131.3 million to €157.0 million, pushing the EBIT margin up from 12.0% to 12.4%. Earnings after tax rose in line with operating profit, increasing by 21% to €111.0 million (1-3/2016: €91.5 million).

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Hannover, Munich, Germany, April 26, 2017 – In 2016, MTU Maintenance, the maintenance, repair and overhaul (MRO) arm of MTU Aero Engines, strengthened its position as the world’s largest independent provider of engine services. Overall, the company signed independent deals with a contract volume of 2.2 billion US Dollars with the program families CF34, CFM56, and LM industrial gas turbines (IGTs) enjoying particular success. “Over 250 new contracts were signed in 2016 and 26 new customers joined the company’s engine and IGT MRO customer lists,” explains Michael Schreyögg, Chief Program Officer at MTU Aero Engines. “Underlining our customers'  trust in MTU Maintenance’s technology, market and engineering expertise. Additionally, the company receives shop visit volume from contracts signed with MTU Aero Engines and partners through the OEM network that is not counted here.

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Vancouver, April 6, 2017 – MTU Maintenance, one of the world’s leading providers of services for commercial aero engines, and MRO provider Barfield Inc. have extended their exclusive line replaceable units (LRUs) contract for the V2500 engine by a further five years. The agreement covers complete V2500 LRU Management, on a fixed price basis. The work will be performed at MTU’s Maintenance Shop in Richmond, Canada.

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Kuala Lumpur, Malaysia, April 4, 2017 -  On April 1, Wim van Beers became the new managing director of Airfoil Services Sdn. Bhd. (ASSB), a 50:50 joint venture between MTU Aero Engines AG and Lufthansa Technik AG. Van Beers joins ASSB from MTU Maintenance, where he spent the past three and a half years as Vice President Marketing and Sales Asia. He follows Derrick Siebert who returns to Lufthansa Technik after 4 years of service at ASSB.

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Munich, March 14, 2017 – The Supervisory Board of MTU Aero Engines AG today accepted the Executive Board’s proposal to raise the company’s dividend to €1.90 per share. This proposal, which represents an increase of 20 euro cents or 12% compared with the previous year’s dividend, will be presented to the voting members of the Annual General Meeting on May 4, 2017.

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Munich, February 23, 2017 – MTU Aero Engines AG once again set new records in the financial year 2016. Revenues increased by 7% to a new high of €4,732.7 million (2015: €4,435.3 million). Operating profit reached €503.0 million, beating the previous year’s record by 14% (2015: €440.3 million). Earnings after tax surpassed the previous record of €306.9 million, set in 2015, growing by 13% to €345.4 million.

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Berlin, February 21, 2017 – Lufthansa Technik and MTU Aero Engines are planning to set up a joint venture company for the maintenance, repair and overhaul (MRO) of geared turbofan (GTF) engines, with each of the partners holding a 50-percent stake. An agreement to this effect was signed by the two companies in Berlin on February 20, after the feasibility of such a joint venture had been examined over the past few months. Subject to different approvals (e.g. by the relevant antitrust authorities) both parties act on the assumption of the joint venture foundation within the second half of 2017.

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Hannover, January 26, 2017 – MTU Maintenance, one of the world’s leading providers of services for commercial aero engines, and their new customer BH Air have signed an exclusive maintenance contract for the airline’s V2500-A5 engines. The agreement covers maintenance, repair and overhaul, on-site services and spare leasing support for their 6 V2500-A5 engines.

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