New Lufthansa Technik aircraft overhaul site in Puerto Rico for short/medium-haul aircraft

Lufthansa Technik and the Commonwealth of Puerto Rico announced an
agreement to create a new aviation maintenance, repair and overhaul
(“MRO”) facility in Puerto Rico, which will service short-haul and
medium-haul aircraft. Agreements to this effect have now been signed
with the government of Puerto Rico and the responsible port authority
and the company plans to start work in the next three months on the
construction of the new facility.

This is a major new step for Lufthansa Technik to expand its
involvement in America. The new company, Lufthansa Technik Puerto
Rico (LTPR), will be based at Rafael Hernández International Airport
in Aguadilla, a former U.S. Air Force Base located on the northwest
of the Island.

The company will employ up to 400 workers and run a total of five
overhaul lines. Initially it will operate two lines for Airbus A320
C-checks and D-checks. The first layover is due to take place in
2015. Leader of the project is Elmar Lutter, who currently holds the
position of Managing Director at the European overhaul facility
Lufthansa Technik Budapest.

“We are very grateful to establish with our partner a new overhaul
facility in Puerto Rico. Lufthansa Technik Puerto Rico will be a
important element in the long-term strategy of Lufthansa Technik’s
presence in the American market,” said August Wilhelm Henningsen, CEO
of Lufthansa Technik.

“This exciting partnership with Lufthansa Technik will create
hundreds of high-skilled jobs and will be a cornerstone of the
aviation industry we are developing in Puerto Rico,” said Alejandro
García Padilla, Governor of Puerto Rico. “With its decision to locate
this facility in Puerto Rico, Lufthansa Technik joins a growing list
of international companies that are investing in Puerto Rico in
recognition of our favorable business climate and geographical
advantages.”

“What companies like Lufthansa are realizing is there has never been
a better time to invest in the United States,” said U.S. Commerce
Secretary Penny Pritzker. “With assistance from our SelectUSA team,
we were able to assist communities in Puerto Rico that are ready for
investment, and – across the globe – help a great company, Lufthansa,
invest in the United States. By helping build strong partnerships
like this one, we are able to create jobs, spur economic growth, and
promote American competitiveness around the world.”

Lufthansa Technik has already the firm commitments of two major
American launching customers for overhauls at the new site. One is
JetBlue Airways. “This is very exciting news for Lufthansa Technik,
the Commonwealth of Puerto Rico, and for JetBlue as well,” said
JetBlue CEO Dave Barger. “As the largest airline serving the people
of Puerto Rico, we are honored to support and endorse Lufthansa
Technik’s plans to build a heavy maintenance base in Aguadilla, and
we are very happy to be one of the first airlines to be serviced
there when it opens.”

Puerto Rico has a high potential of motivated and well-trained
aircraft mechanics and engineers. A dedicated technical school is
currently training 100 people in these skills. In addition Lufthansa
Technik is committed to training additional personnel through its
subsidiary, Lufthansa Technical Training, in partnership with the
University of Puerto Rico and the Commonwealth’s Department of
Education.