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Lufthansa seals jet maintenance deal in Bulgaria

Date: 31.10.2007

German airline Lufthansa signed on Tuesday a deal to set up a joint venture to carry out repairs and maintenance works on Airbus 320A and Boeing 737 planes in Bulgaria.

The airline's maintenance, repair and overhaul (MRO) subsidiary Lufthansa Technik will own 80% in the company, and local airline Bulgarian Aviation Group (BAG) - the rest.

The two shareholders will invest EUR 20 M to equip a hangar at Sofia airport, which will become operational next year.

Lufthansa and BAG, which changed its name from Hemus Group in May, have been in talks for more than two years and the new facility is the first of its kind not only in Bulgaria, but in southeastern Europe as well.

The facility will be able to carry out maintenance and repair works on 124 jets annually.

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