AeroTurbine proclaim New business with Lufthansa Technik

Deal Bolsters the Companies’ present in the Global MRO Market and additional get bigger ILFC’s Business prospect

AeroTurbine Inc., a wholly owned additional of International Lease Finance Corporation (ILFC), make known today its purpose to go into into a new business with Lufthansa Technik AG, the world's largest supplier of aircraft-related technical services.

Under the agreement, which is theme to sure antitrust approvals and other customary closing circumstances, AeroTurbine and Lufthansa Technik will go into a set of commercial agreement covering the supply of AeroTurbine material to Lufthansa Technik, the acquire of safeguarding services from Lufthansa Technik, and the delivery of surplus material to AeroTurbine.

In conjunction with the commercial contract, Lufthansa Technik will also acquire from ILFC an indirect 15% minority notice in AeroTurbine. ILFC will carry on to own the left over interest in AeroTurbine. Lufthansa Technik also can work out an alternative to add to its investment to 19.9%, if certain act targets are met under the commercial agreements.

This new business builds on the companies’ already strong business connection, and underscores Lufthansa Technik’s interest in rising a strategic arrangement with ILFC, the world’s largest independent aircraft leasing company.

successful right away upon closing, the companies will begin to take benefit of the extended reciprocal business chance in the aircraft material safeguarding, repair and overhaul market across all business lines.

“We could not be better-off about our new company with Lufthansa Technik,” said AeroTurbine President and Chief Executive Officer Michael King. “Both companies grip management positions in their area of the aftermarket, and this position will dish up to make us both even stronger.”

“We are very keyed up about our new connection with AeroTurbine and ILFC,” added August Wilhelm Henningsen, Chief Executive Officer of Lufthansa Technik. “We consider they have a exclusive value plan with products and services that are supporting our cost reduction and growth plan. This accord unite one of the largest aircraft portfolios, with a world class supply chain organization, to give serviceable material to the Lufthansa Technik family of companies.”

“The contract is the reasonable extension of the companies’ established market cooperation,” said ILFC Chief Executive Officer Henri Courpron. “This new business is a first step in rising a broader relationship between Lufthansa Technik and ILFC, which will influence our core products and course to make a important worth for our businesses, and will additional advance ILFC’s strategy to give total aircraft lifecycle solutions to its clients.”