- 2018 annual financial statements above plan with high production capacity utilization in all areas
- Adjusted EBIT EUR 4.3 million higher than budgeted
- Strong growth in Simulator Training segment
Lufthansa Aviation Training (LAT) presents the final figures for the past year 2018 – and exceeds expectations. With an adjusted EBIT of EUR 26.6 million, the result is EUR 4.3 million above plan.
The positive result already includes the increase in training capacity to up to 500 new flight students per year for Lufthansa Group airlines. Despite the funds of millions of euros required for this, which were not yet included in the original planning for 2018, LAT was able to exceed its own ambitious targets.
In addition to accounting effects, the strong growth in Simulator Training was one of the drivers for the good result. More than 9,000 more hours of training than estimated took place in 2018 on the 53 LAT Full Flight simulators. The load factor of the simulator fleet was increased by 3.1 percentage points compared to the previous year. Training hours in the Safety and Service Training division were also slightly above plan, due in particular to the high demand for recurrent and conversion courses. The number of student pilots at the European Flight Academy set a new record with over 450 course starts in 2018.
For 2019 Lufthansa Aviation Training is planning further extensive investments in modern training equipment and the expansion of digital offerings. Tiziana Heilig, Managing Director of Lufthansa Aviation Training: “The result for 2018 is the deserved result of last year’s intensive work. The record number of new student pilots was a challenge that we mastered outstandingly in addition to the high load factor in all areas and many other topics. The year-end results above plan are the result of the great team effort of our employees“.
Munich, 29 March 2019