Lufthansa Technik reported strong results for 2019 with a 13.9% increase in revenues to EUR 6.9 billion, but it said while the long term prognosis for Covid 19 couldn’t be foreseen its current impact is “already massive.”
Dr Johannes Bussmann, chairman of Lufthansa Technik Board, said: “With the outbreak of the corona crisis, nothing is the same as it was just a few weeks ago. The maintenance industry is already suffering from the decline in air traffic. The full extent will hit us with a delay, which means a forecast is currently not possible, but first impacts are massive.
Bussmann said the future outlook was dependant on the duration of the crisis and how the firm’s customers will recover from it.
