Lufthansa’s Irish subsidiary reports 18% fall in profits

PRE-TAX profits at the Irish-based Lufthansa owned aircraft overhaul and leasing group last year dropped by 18%, to $23 million (€17.6m), figures show.

In accounts filed by the German-owned Lufthansa Technik Airmotive Holdings with the Companies Registration Office, the directors stated: “While three of the four business segments produced a profit, the results were substantially down on expectations.”

The figures show group revenues dropped by 8%, from $356.6m to $327.2m, with operating profits dropping 3%, from $33.2m to $32.18m.