Lufthansa Technik Philippines, Inc. (LTP), a joint undertaking between MAC (49%) and Lufthansa Technik AG of Germany (51%), started commercial operations on September 1, 2000. It is a Philippine Economic Zone Authority (PEZA) locator at the NAIA ecozone and consistently generates local and export revenues.
LTP is as the only company in the Philippines, which provides a wide array of aircraft maintenance, repairs and overhaul (MRO) services at the NAIA. It has been certified as a qualified provider of aircraft MRO services by the Civil Aviation Authority of the Philippines (CARP), the United States' Federal Aviation Administration (FAA) and the European Aviation Safety Agency (EASA).
Its facility at the NAIA comprises of a 5-bay hangar covering an area of 26,000 sqm and various workshops measuring 27,000 sqm. It also has aircraft maintenance stations in Pampanga, Cebu and Davao.
Philippine Airlines remains to be LTP's base client. Other clients include, among others - Asiana Airlines, Cathay Pacific, China Airlines, Etihad Airways, Eva Air, Gulf Air, Hawaiian Airlines, Japan Airlines, Korean Air, Malaysian Airlines, Qantas, Qatar Airways, Royal Brunei and Singapore Airlines. Moreover, other international airlines including those with non-scheduled flights to Manila also avail of LTP's MRO expertise. These include Lufthansa, Virgin Atlantic, Air Mauritius and Austrian Airlines, to name a few.
2009 Operating Results
LTP’s revenues went down from US$238 million in 2008 to US$226 million in 2009 – a US$11.6 million or 5% decrease. This is attributed to a 50% decline in D checks in the heavy maintenance services. Despite rising costs, however, gross profit rate was maintained as direct costs were kept in check. General and administrative expenses were likewise curbed by US$3.7 million or 10%. As the peso grew stronger vis-à-vis the US dollar, however, LTP incurred a foreign exchange loss amounting to US$1.8 million. Bottom line, the company managed to sustain a similar net income after tax ratio from previous year.
Highlights of its operational performance include its 100th A330/A340 heavy maintenance check, conclusion of PAL’s first A320 D-check ahead of schedule and the excellent service and on time performance of all its line maintenance checks, including special layovers and other transit checks.
Looking Ahead
With the signing of another 12-year engine maintenance contract with PAL, repair and overhaul of CFM56-5B engines by Lufthansa Technik AG and off-wing support services by LTP will remain. PAL also recently signed two contracts covering Line Maintenance and Total Component Support (TCS) for its newly-acquired fleet of B777-300ERs. While another TCS contract – this time for PAL’s fleet of turboprop Bombardier Q400 regional aircrafts was likewise concluded for the provision of component pooling and repair services.
With these developments, LTP is planning to intensify it operations in Manila as well as in its Cebu station to accommodate such influx of requirements and maintain its status as a recognized provider of quality MRO services, not only in the Philippines, but in the Asian region as well.
MacroAsia Ecozone, Villamor Airbase
Pasay City 1300 Philippines
Tel. Nos. +63 2 855-2222
Fax Nos. +63 2 855-9392
www.ltp.com.ph
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