Lufthansa Technik enters into partnership with AeroTurbine

Lufthansa Technik AG and AeroTurbine Inc., a subsidiary of the
International Lease Finance Corporation (ILFC) that markets engines
and aircraft parts, have announced their intention to enter into a
partnership. Under the terms of the agreement AeroTurbine will supply
Lufthansa Technik AG with aircraft and engine components, while
Lufthansa Technik will provide technical services for aircraft
components of AeroTurbine and additionally supply the Miami-based
company with surplus material for resale.

To this end, subject to the agreement of the cartel authorities,
Lufthansa Technik AG will acquire a 15 percent interest in
AeroTurbine. If the partnership proceeds to the satisfaction of both
partners, Lufthansa Technik can exercise the option to increase its
holding to 19.9 percent. This new partnership builds on the
Hamburg-based company’s already close relationship with AeroTurbine
and will strengthen its strategic collaboration with the world’s
largest independent aircraft leasing company, ILFC.

“We could not be happier about our new partnership with Lufthansa
Technik,” said AeroTurbine President and Chief Executive Officer
Michael King. “Both companies hold leadership positions in their
sectors of the aftermarket, and this alignment will serve to make us
both even stronger.”

“We are very excited about our new relationship with AeroTurbine and
ILFC,” added August Wilhelm Henningsen, Chairman of the Executive
Board of Lufthansa Technik. “Both companies offer products and
services that support our strategy of growth and further cost
reductions. With this agreement we will be able to further expand the
support offerings of the entire Lufthansa Technik Group.”

The Chief Executive Officer of ILFC, Henri Courpron, described the
agreement as the logical extension of the companies’ established
market cooperation. “This new partnership is a first step in
developing a broader relationship between Lufthansa Technik and ILFC,
which will leverage our core products and processes to generate a
significant value for our businesses and will further advance ILFC’s
strategy to provide complete aircraft lifecycle solutions to its
customers.”