Aircraft leasing group sees profits double despite a ‘very difficult year’

Pre-tax profits at the Irish-based, Lufthansa-owned aircraft overhaul and leasing group last year more than doubled to $35.1m (€27.3m) “despite a very difficult year for the aviation industry”.

That is according to accounts lodged by Lufthansa Technik Airmotive Ireland Holdings Ltd with the Companies Office that confirm revenues increased by 0.8%, or $3.1m, to $372.8m in the 12 months to the end of December last.

The group’s companies are engaged in the rebuilding of aircraft engines; leasing of engines and rotable aircraft-related components; engine component repair; and aircraft maintenance.