Bulgarian Govt to Award Lufthansa Technik 'Class A' Investor Status

Business | October 17, 2011, Monday // 20:19|  views

German carrier Lufthansa's fully-owned subsidiary LHT, world leader in airplane maintenance and conversions, opened its complex in Bulgaria in October 2008. Photo by EPA/BGNES

Lufthansa Technik Sofia, a joint venture between Germany's Lufthansa Technik and the Bulgarian Aviation Group, will be awarded 'Class A', the highest possible investor status by the Bulgarian government.

The Class A certificate will be presented to Lufthansa Technik Sofia by Bulgarian Minister of Economy, Energy, and Tourism Traicho Traikov, on Tuesday, October 18, the Economy Ministry announced.

The Class A investor status is awarded to Lufthansa Technik for its investment worth BGN 25.5 M into the reconstruction and expansion of the airplane overhaul and service facility at Sofia International Airport.

Germany's Ambassador to Bulgaria Matthias Hoepfner will be an official guest of the event.

Lufthansa Technik Sofia, a joint venture between Germany's Lufthansa Technik and the Bulgarian Aviation Group, announced in September 2011 it will invest another BGN 20 M in the construction of new facilities for aircraft overhaul and maintenance near Sofia Airport.

The company, which has serviced so far 50 planes of more than 20 airlines in Europe, the Middle East and Northern Africa, said it has been flooded with orders and will accept no more by the end of 2011.

The maintenance, repair, and overhaul complex located at the airport of the Bulgarian capital Sofia was opened in October 2008.

Together with the Bulgarian Aviation Group, which owns a 20% stake in the enterprise, Lufthansa Technik has invested more than BGN 50 M in the modernization of the maintenance facility and the training of the workers.

All types of planes of the series Airbus A320 and Boeing 737 are serviced in the repair complex, which has a total area of 6 000 square meters and allows the simultaneous servicing of two planes.

Lufthansa Technik has four other similar facilities - Schoenefeld Maintenance Center in Berlin, Lufthansa Technik Malta, Shannon Airspace in Ireland, and Lufthansa Technik Budapest.

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Tags: Bulgarian Aviation Group, Lufthansa Technik, airlines, Lufthansa, Economy Ministry, foreign investor, foreign investments, Class A investor status, Traicho Traikov, German Ambassador, Matthias Hoepfner, Germany


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