Company

€25m Investment in new Hangar for Lufthansa Technik Malta

Lufthansa Technik Malta will be investing 25 million euro to expand its facility in Malta after signing an agreement with Malta Industrial Parks Ltd (MIP) for the allocation of 21,000 square metres of land adjacent to its existing hangars, a company statement said.

Through this investment, the company – which is one of the global leaders within the aviation maintenance, repair and overhaul (MRO) industry – will be building another hangar in which it will be able to service a wide-bodied aircraft and a narrow-bodied aircraft together at any one time.

The expansion testifies Lufthansa Technik’s confidence in the local workforce as well as in the economy and particularly in the local aviation industry, as it will be further consolidating its presence in Malta and in so doing generate more high quality jobs, the statement said. 

“With this investment Lufthansa Technik continues its success story and engagement in Malta. The envisaged operation of up to 40 years is a strong commitment to the island, its economy and its workforce. We are proud to be able to expand our footprint and with this the significance of Lufthansa Technik Malta in the worldwide Lufthansa group by servicing the most state of the art aircraft for the future along with high technology and increased skill sets”, said Marcus Motschenbacher, Lufthansa Technik Malta CEO, when commenting about the expansion.

“We are glad to be supporting Lufthansa Technik’s expansion plans, which fit seamlessly within Government’s and our vision and commitment towards the aviation sector. This investment ties in perfectly with other work MIP is currently involved in, such as the development of an Airport Zone Strategy Plan to facilitate further growth within the sector, the improvement of efficiencies, and the creation of new niches within the aviation industry,” added Karl Azzopardi, CEO at Malta Industrial Parks.

The investment is also being facilitated by Malta Enterprise through the support it provides companies to set up and grow in Malta.

“Malta is proud to have Lufthansa Technik operating from Malta and committing its future with such an important long-term investment. The country’s success is not only in retaining reputable international companies, but also in convincing such brands to shift new, value adding operations to their Malta outpost. While supporting established operations in facing existing challenges and expanding here, Malta Enterprise is also committed to continue attracting operators that support the strong aviation cluster. Together with Malta Industrial Parks we are committed to continue developing infrastructure that can propel Malta’s future in this industry,” Malta Enterprise CEO Kurt Farrugia said.

 

Source: www.independent.com.mt 

Published: 24 October 2019

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