Lufthansa inks $260M 12-year maintenance deal with PAL
Philippine Airlines (PAL) has signed a 12-year maintenance agreement with Lufthansa Technik Philippines for its A350s and A321 Neos effective May 31.
The deal, valued at more than $260 million, is a testament to the solid partnership between PAL and LTP, aligned with the overall goal of delivering a better flying experience for the flag carrier’s passengers.
LTP started preparing for the servicing of the A321neo and the A350-900 as early as 2016.
“To be ready for the entry into service of these new planes, LTP is investing about $15 million to cover for the training of mechanics, facility adjustments and for tooling and materials,? LTP said.
PAL expects to get four A350-900s, six Airbus A321neos and five Bombardier Q400s.
The Lucio Tan-led airline expects to end the year with 98 aircraft in its fleet. It currently has 89 aircraft.
The expansion of its fleet is in line with PAL’s goal to achieve a five-star rating by 2020.