AeroTurbine and Lufthansa Technik in partnership
Under the arrangement, which is subject to certain antitrust approvals and other customary closing conditions, AeroTurbine and Lufthansa Technik will enter into a set of commercial agreements covering the supply of AeroTurbine material to Lufthansa Technik, the purchase of maintenance services from Lufthansa Technik, and the consignment of surplus material to AeroTurbine.
In conjunction with the commercial agreements, Lufthansa Technik will also purchase from ILFC an indirect 15% minority interest in AeroTurbine. ILFC will continue to own the remaining interest in AeroTurbine. Lufthansa Technik also can exercise an option to increase its investment to 19.9%, if certain performance targets are met under the commercial agreements.
Effective immediately upon closing, the companies will begin to take advantage of the expanded reciprocal business opportunities in the aircraft material maintenance, repair and overhaul market across all business lines. ■