Lufthansa Technik has some rare cause for celebration in the current crisis after extending its 737NG base maintenance support agreement with Norwegian for another five years.
Lufthansa has blamed the “almost complete grounding of [the] global commercial aircraft fleet,” for losses at its maintenance arm in the second quarter.
Safran is projecting a 50% decline in commercial engine aftermarket revenues in 2020, but cautions that airline balance sheets, closely linked to air travel demand, will have significant influence on how quickly the lucrative segment recovers.