Press Archive 2019

Munich, Hamburg, Rzeszów December 19, 2019 – EME Aero, Engine Maintenance Europe service center, a 50/50 joint venture between Lufthansa Technik and MTU Aero Engines, has completed the aviation authority certification process and obtained EASA 145 certification as a maintenance organization on 12th December, 2019. Site completion and the official open-ing of the company is planned for spring 2020.

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Langenhagen, December 4, 2019 – MTU Maintenance, the global leader in customized solutions for aero engines, celebrates its 40th anniversary and 20,000th shop visit in Hannover, Germany, today. The celebration of the official founding of the wholly-owned MTU subsidiary, MTU Maintenance Hannover GmbH, on November 29, 1979, was attended by local politicians including Stephan Weil, Minister President of Lower Saxony, MTU executives, employees present from the start and current apprentices.

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December 3rd 2019, Paris (France) / Munich (Germany) The FCAS (Future Combat Air System) program takes a major step ahead: Safran Aircraft Engines and MTU Aero Engines settled the details concerning their eye-level partnership to develop the engine of the next-generation European fighter aircraft NGF.

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Munich, November 28, 2019 – At its Capital Market Day, MTU Aero Engines AG presented an initial outlook on its expected business development in 2020. In the upcoming financial year, the commercial business sectors – i.e. commercial new engine and spare parts business as well as commercial maintenance business – are predicted to be the main sources of growth. The military engine business is expected to remain stable. For 2020, MTU is anticipating an increase in operating profit in the high single-digit percentage range. The cash conversion rate – that is, the ratio of free cash flow to net income adjusted – is expected to be around 70 percent. In the longer term, MTU sees prospects for growth in all business segments.

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Zhuhai, November 25, 2019 – MTU Maintenance, the global leader in customized solutions for aero engines, and Malaysia Airlines Berhad signed an exclusive 10-year contract for the airline’s over 100 CFM56-7B engines today. The contract covers maintenance, repair and overhaul for the engine fleet until phase-out and includes lease engines and LLP management. 

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Munich, November 5, 2019 – With the geared turbofan (GTF), Pratt & Whitney and MTU Aero  Engines are building the most eco-efficient propulsion system currently available in the marketplace. MTU not only contributes key turbine and compressor technologies to this highly advanced family of engines, the company is also responsible for final assembly of one third of the PW1100G-JM geared turbofans that power the Airbus A320neo.

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Munich, October 25, 2019 – In the first nine months of 2019, MTU Aero Engines generated revenues of € 3,403.7 million, up 3 % on the previous year (1-9/2018 € 3,318.7 million). The group’s operating profit increased by 10 % from € 508.9 million to € 557.7 million. The EBIT margin rose from 15.3 % to 16.4 %. Net income increased by 8 % to € 391.7 million (1-9/2018: € 362.8 million).

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Munich / Belgrade, October 23, 2019 - MTU Aero Engines AG and the government of the Republic of Serbia inked a Memorandum of Cooperation (MoC) establishing their close cooperation in the field of training of skilled labor. The aim is to effectively address the specific needs of the aviation industry in the curricula of vocational and trade schools. The move clears the way for an adoption of a training scheme based on the proven dual system of classroom and work-place learning for teaching people the ropes of the aviation industry.

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Munich, October 15, 2019 – High-tech at its best: MTU Aero Engines has built a new test center for engine parts on its Munich premises, investing an amount of more than 25 million euros in a new building and the most advanced test equipment. After two years of construction, the test center is now operational. This afternoon, Judith Gerlach, Bavarian State Minister for Digital Affairs, and MTU’s Chief Operating Officer (COO) Lars Wagner inaugurated the facility in a ceremony attended by around 100 guests from business, politics and science as well as company employees.

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Munich, September 26, 2019 – MTU Aero Engines, Germany’s leading engine manufacturer, has been developing and manufacturing brush seals for many years. Made up from thousands of wires – each just a fraction of a millimeter thick – these seals are a highly effective way of reducing leakage in aircraft engines as well as in steam and industrial gas turbines and other industrial applications. Thanks to their flexibility, they perfectly adapt to the moving surfaces to be sealed. They also stand out for their stable operating behavior and high temperature resistance.

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Singapore, September 24, 2019 – MTU Maintenance, the global leader in customized solutions for aero engines, announces today that it has opened an office in the heart of the aviation leasing hub Singapore. The new office is located in the Central Business District and its grand opening is being celebrated during the on-going MRO Asia. Luc Morvan has taken on the role of Chief Representative of MTU Maintenance’s activities in Singapore. He will be responsible for building up business in the Asia-Pacific region.

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Munich, 13 September 2019: MTU Aero Engines AG ("MTU" or the "Company") announces that the reference share price in relation to the new convertible bonds (ISIN DE000A2YPE76) (the "New Convertible Bonds") and the partial repurchase of the outstanding convertible bonds due 2023 (ISIN DE000A2AAQB8) (the "Outstanding Convertible Bonds") has been set at EUR 244.1453 (being the average of the daily volume-weighted average prices of the no-par value ordinary registered shares of the Company (the "Ordinary Shares") on XETRA on 11, 12 and 13 September 2019).

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Munich, 11 September 2019: MTU Aero Engines AG ("MTU" or the "Company"), successfully repurchased outstanding senior, unsecured convertible bonds due 2023, ISIN DE000A2AAQB8, (the "Outstanding Convertible Bonds") in connection with the invitation to sell (the "Invitation to Sell") announced on 10 September 2019.

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  • Issue volume of EUR 500 million, 7.5 year maturity
  • 0.05% coupon, 103% issue price, implying a -0.34% yield to maturity and 55% conversion premium
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Munich, 10 September 2019:The executive board of MTU Aero Engines AG (the "Company"), with the approval of the Company's supervisory board, resolved today on the concurrent launch of the following transactions

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Zhuhai, September 10, 2019 -- MTU Maintenance Zhuhai announces that it now has the capability to maintain CFM International[1] LEAP engines. The General Support License Agreement (GSLA) signed between China Southern, MTU Maintenance Zhuhai’s 50/50 joint venture partner alongside MTU Aero Engines, and CFM International will enable the facility to maintain, repair and overhaul LEAP-1A and -1B engines.

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Munich, September 4, 2019 – Following a recommendation made by the Working Committee for Equity Indices, Deutsche Börse today decided to admit MTU Aero Engines AG to the DAX, Germany’s primary stock index, effective September 23, 2019.

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Petaling Jaya, August 7, 2019 – Airfoil Services Sdn Bhd (ASSB), a 50/50 joint venture between MTU Aero Engines AG and Lufthansa Technik AG, has broken ground on its facility extension. This expansion grows facility space by 5,200 square meters and will increase current repair capacity from 650,000 to 900,000 parts per year by 2020. This development underlines the shareholders’ commitment to increasing its footprint and investing in Malaysia.

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Hannover, July 31, 2019 – MTU Maintenance, the global leader in customized solutions for aero engines, and long-term partner Atlas Air, Inc., a subsidiary of Atlas Air Worldwide Holdings, Inc., recently signed a seven-year extension of their CF6-80C2 contract. The contract builds on over 15 years collaboration between the two companies and includes maintenance, repair and overhaul coverage of over 200 engines powering Atlas Air’s B747 and B767 fleets, as well as engine trend monitoring. It incorporates numerous elements of MTU Maintenance’s SAVEPlus offering, one of the MTUPlus intelligent solutions and a product dedicated to reducing cost through smart strategies for mature engines

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Munich, July 25, 2019 – At half-year, MTU Aero Engines AG has raised its forecast for 2019. The company is now projecting an adjusted EBIT margin in the region of 16 %. The original forecast had been 15.5 % (2018: 14.7 %). “The increase in the earnings outlook mainly reflects two factors: One is that our MTU Maintenance Zhuhai site in China developed somewhat more positively than anticipated. In addition, changes in the product mix also had a positive effect,” said Reiner Winkler, CEO of MTU Aero Engines AG. Net income adjusted is expected to increase in line with EBIT adjusted (EBIT adjusted, 2018: € 671.4 million, net income adjusted, 2018: € 479.1 million). The cash conversion rate – that is, the ratio of free cash flow to net income adjusted – is expected to lie between 65 and 70 % in 2019. MTU’s previous forecast specified a target range between 55 and 65 % (2018: 42 %).
 

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Hannover, July 23, 2019 – MTU Maintenance, the global leader in customized solutions for aero engines, and valued, long-term partner JetBlue Airways signed an exclusive 13-year contract for the airline’s V2500 pre-select fleet today. The contract covers maintenance, repair and overhaul for the engines from 2020 to 2033. This contract takes MTU Maintenance’s total contract wins to 4.5 billion U.S. Dollars for the first seven months of 2019.

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Munich, July, 1st 2019 – MTU Aero Engines, Germany’s leading engine manufacturer, is facing up to its responsibility by acting sustainably. As far as sustainability is concerned, what plans has MTU set out for itself as a company and for its products? What has the company already accomplished on its way to attaining its goals? All these facts and figures are released in the 2018 Sustainability Report. Under sustainability.mtu.de/report2018/en/ the company accounts of its activities in the area of sustainability and corporate responsibility, a report drawn up according to international standards (Global Reporting Initiative and the principles of the UN Global Compact). 

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Munich, June 20, 2019 – This year's aviation industry gathering in Paris ends with an order intake of more than 1.3 billion US Dollars (about 1.2 billion euros; according to list price) for MTU Aero Engines. The orders for Germany's leading engine manufacturer mainly result from orders and memorandums of understanding (MoU) for the geared turbofan (GTF) engines of the PW1000G family for short- and medium-range aircraft. They account for around 95 percent of the volume during the Paris Air Show. There was also a commitment for the GEnx long-range engine, in which MTU also has a stake.

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Vancouver, June 19, 2019 -- MTU Maintenance Canada has taken possession of a brownfield site adding capacity to the Vancouver operations. The building is located next to Boundary Bay airport, in the Vancouver suburb of Delta and was originally designed and operated as a maintenance facility for helicopters and helicopter engines. The facility will immediately provide much-needed additional expansion space of around 60 percent. Following minor modifications by year-end, it also enables MTU Maintenance Canada to consolidate all of its repair activates, currently spread across three locations at Vancouver airport, into one location.

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Munich/Paris, June19, 2019 – MTU Aero Engines AG, a leading engine manufacturer and one of the world’s largest engine maintenance providers, has chosen the municipality of Nova Pazova, about 25 kilometers north of Belgrade International Airport as the location for its new repair facility. The company will establish a parts repair shop with a capacity of approximately 400,000 annual repair hours. This is in addition to the 1.9 million repair hours MTU currently performs per year at existing facilities. The new site will be run by MTU Maintenance Serbia d.o.o., a 100 percent MTU subsidiary to be founded soon, and is expected to be operational over the course of 2022.

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Paris, June 18, 2019 – „Answering tomorrow‘s challenges“: Never before has MTU Aero Engines had such good answers ready as today to tackle the challenges the aviation industry will be facing down the road. “We’re conscious of our responsibility for sustainable, emissions-free flying. That’s why we’re already investing today in pioneering technologies for the aviation of tomorrow,” explains MTU’s COO Lars Wagner. At this year’s Paris Air Show the company will present truly pioneering ideas and concepts: innovative evolutionary technologies for the next engine generation and also revolutionary technologies for the year 2050 and after.

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Paris, 17 June 2019 – Hybrid, safe and practically noiseless: These are the attributes of an innovative small aircraft, dubbed Silent Air Taxi, e.SAT GmbH, a company based in Aachen, Germany, plans to bring to the market. The new air taxi, which is capable of carrying five passengers, was presented to the public for the first time last week. Today, the project has reached the next milestone: On the first day of this year’s International Paris Air Show, e.SAT GmbH and MTU Aero Engines signed a letter of intent (LoI). The parties agreed that Germany’s leading engine manufacturer will take a stake in the development and production of the unique hybrid-electric powertrain for the new aircraft and acquire shares in the recently founded company in the amount of ten million euros.

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Ludwigsfelde, June 5th, 2019 – MTU Maintenance, the world's leading provider of customized services for aero engines, inaugurated a new logistics center at its Ludwigsfelde site today. The shop is as well the competence center for industrial gas turbines. Dr. Dietmar Woidke, Prime Minister of Brandenburg, attended the ceremony alongside numerous guests of honor from politics and industry. Above all, he paid tribute to the company's commitment to securing the future of the aviation industry in Germany.

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Munich, June 3, 2019 – “Answering tomorrow’s challenges” is more than just a trade fair motto for MTU Aero Engines. These words reflect the company’s commitment to finding solutions to tackle the challenges the aviation industry will be facing down the road. At this year’s Interna-tional Paris Air Show (June 17 to 23), Germany’s leading engine manufacturer will present truly pioneering ideas and concepts. The company’s objectives are to make military propulsion sys-tems even more powerful and to improve the fuel consumption and environmental compatibility of commercial engines. MTU not only wants to enhance the next generation of commercial en-gines, but has set its sights also on the time after 2050.

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Zhuhai, May 23, 2019 – MTU Maintenance, the global leader in customized solutions for aero engines, has signed an exclusive four-year CFM56-5B contract with GoAir, a low-fare carrier based in Mumbai, India. The contract covers the maintenance, repair and overhaul as well as spare engine support and on-site services for the CFM56-5B engines powering the airline’s 17 A320 aircraft.  

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Munich, Rzeszów 17 May 2019 - Ten years ago, the first 200 employees at MTU Aero Engines Polska started producing their first engine components. Today, the site in the Polish Aviation Valley near Rzeszów has about 900 employees – and is indispensable in the production network of Germany's leading engine manufacturer. On May 16, a ceremony was held with employees and representatives from local politics and businesses to celebrate this milestone.

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Munich, May 7, 2019 – MTU Aero Engines AG and the Government of the Republic of Serbia signed a Memorandum of Understanding (MoU) with regard to the company’s intention to set up a new industrial site in Serbia today. The Serbian government strongly supports this new venture, which will most likely be located in the Belgrade region. Due to ongoing negotiations, a decision regarding a specific location has not yet been made. MTU, a leading engine manufacturer and one of the world’s largest engine maintenance providers, plans to expand its current network with a dedicated parts repair facility. After a carefully considered selection process including sites across Europe, MTU decided in favour of Serbia as the home of this growth project.

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Munich, April 30, 2019 – In the first quarter of 2019, MTU Aero Engines AG saw its revenues increase by 11 % from € 1,016.4 million to € 1,131.2 million. The group’s operating profit grew by 7 % to € 187.6 million (1-3/2018: € 175.1 million), resulting in an adjusted EBIT margin of 16.6 % (1-3/2018: 17.2 %). Net income  increased in line with EBIT adjusted, rising by 8 % from € 123.3 million to € 133.5 million.
 

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Worker on a PW2000

Hannover, April 10, 2019 – MTU Maintenance, the global leader in customized solutions for aero engines, remains committed to its PW2000 engine MRO program for at least another 10 years. In recent months, the company has won contracts valued at more than 700 million U.S. dollars through its excellent, cost-effective solutions. 

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GE90 Onsite-Maintenance

Hannover, April 9, 2019 – MTU Maintenance, the global leader in customized solutions for aero engines, has signed a twelve-year GE90-115B maintenance contract with United Airlines. The fly-by-hour contract covers the maintenance, repair and overhaul of 49 engines powering the airline’s B777-300ER fleet and includes MTU proprietary repairs as well as engine trend monitoring. 

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VALUEPlus MTUPlus Program

Hannover, Atlanta, 8 April, 2019 – MTU Maintenance, the global market leader in customized service solutions for aero engines, launches its redefined services portfolio MTUPlus Intelligent Solutions at the MRO Americas in Atlanta, Georgia. The portfolio has been conceived to fulfil the exact and specific needs of operators, who increasingly require tailor-made solutions across the lifecycle in order to control and optimize cost, as well as those of asset owners and lessors, for whom residual value and cost of ownership is key.  The portfolio has been divided into four highly tailored solutions, PERFORMPlus, SAVEPlus, VALUEPlus, MOVEPlus, and a services cluster SERVICEPlus for single and ad-hoc requests. 

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Langenhagen, 21 March, 2019 – MTU Maintenance once again broke records in 2018. The MRO division of MTU Aero Engines AG secured around 4.4 billion US dollars in MRO contract wins, surpassing the 4 billion mark for the first time in its history. Over 300 contracts were signed in 2018, of which 46 were with new engine MRO customers.
 

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Munich, February 26, 2019 – The Supervisory Board of MTU Aero Engines AG today accepted the Executive Board’s proposal to raise the company’s dividend to € 2.85 per share for the financial year 2018. This proposal, which represents an increase of 55 euro cents, or 24 %, compared with the previous year’s dividend, will be presented to the voting members of the Annual General Meeting on April 11, 2019.

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Munich, February 20, 2019 – MTU Aero Engines AG once again set new records in the financial year 2018. Revenues increased by 17 % from € 3,897.4 million in 2017 to a new high of € 4,567.1 million. The group’s operating profit reached a new record level of € 671.4 million, similarly beating the previous year’s result by 17 % (2017: € 572.5 million). Net income also surpassed the previous record of € 404.9 million, set in 2017, growing by 18 % to € 479.1 million.

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February 6th 2019, Gennevilliers (France) - In the presence of the French and German Ministers of Defense, respectively Florence Parly and Ursula von der Leyen, Safran Aircraft Engines and MTU Aero Engines today officially announced their partnership to jointly lead the development, the production and the after-sales support activities of the new engine that will power the next-generation combat aircraft, as part of the Franco-German Future Combat Air System (FCAS). The aircraft will enter into service by 2040 to complement the current generation of Eurofighter and Rafale fighter aircraft.

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Munich, Rzeszów, 11th January 2019 - MTU Aero Engines' technology is in each and every geared turbofan (GTF) engine produced for the Airbus A320neo. Its Polish subsidiary, MTU Aero Engines Polska, started to assemble the first low-pressure turbine for the geared turbofan model PW1100G-JM about three and a half years ago. At the end of the year 2018, the MTU site in Poland completed the 1000th module and delivered it to Pratt & Whitney. For MTU, this marks another milestone in the production ramp-up of this game-changing engine program at its site in Rzeszów.
 

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