BERLIN (dpa-AFX) - MTU Aero Engines AG (MTUAY.PK) announced Tuesday that it has signed a memorandum of understanding with Lufthansa Technik to explore the possibility of establishing an MRO joint venture at a globally competitive location.
MTU Aero said they are looking into options to jointly provide maintenance, repair and overhaul or MRO services for the PW1000G family of geared turbofan engines.
The first decisions will be made by the end of the year. The companies expect to leverage significant synergy effects from the deal.
The joint venture could handle a substantial amount of GTF shop visits already in the first few years of business.
Lufthansa Technik has been maintaining various Pratt & Whitney engine types, while MTU Aero Engines is a partner of Pratt & Whitney in the PW1000G program.
The two companies have been partnering in a successful, 50/50 joint venture in Malaysia since 2003.
Copyright RTT News/dpa-AFX