Worldwide MRO market weakens, LHT expects consolidation

As airlines around the world shrink capacity in response to the global economic downturn, the need for maintenance is reduced, but Lufthansa Technik said it is well-positioned to manage the decline and hopes to do so without cutting its workforce. LHT has 668 clients and commands a 15% global market share in a business that generates some $40 billion annually. "We are always searching for new opportunities, but now it is time to consolidate," Chairman August Wilhelm Henningsen told ATWOnline ...