Press Archive 2007

Munich, December 20, 2007 – Debut at MTU Aero Engines: Germany's leading engine manufacturer is the first company worldwide to repair a component by patching, hand it over to the customer and obtain approval for the innovative repair technique. In December, a repaired blisk from a low-pressure turbine of the Eurofighter's EJ200 engine was delivered to the National Quality Assurance Office for aviation equipment.

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Munich, December 14, 2007 - MTU Aero Engines Holding AG's supervisory board in its December 14, 2007, meeting authorised the MTU management, given certain launch conditions for MTU, to  take shares in envisioned engine programs for business and regional aircraft.

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Munich, October 25, 2007 – In the first nine months of 2007, MTU Aero Engines Holding AG further improved its earnings, thus sustaining the positive trend. Adjusted EBITDA1 increased by 22% to €280.8 million (1-9/06: €230.4 million). The company’s EBITDA margin increased to 14.9%, up two percentage points compared with 2006. Underlying net income2 made similarly positive progress, increasing by 17% to €102.5 million (1-9/06: €87.9 million). This figure includes a non-recurring charge for the early redemption premium in connection with the high-yield bond, which was paid in the first half of this year. Excluding this exceptional charge, the improvement would have amounted to 30%.

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Munich, October 18, 2007 – Dr. Stefan Weingartner (46) will become MTU Aero Engines' new President and CEO, Commercial Maintenance, effective November 1, 2007. MTU's Supervisory Board nominated him to the position in a meeting held in the evening of October 18, 2007. Weingartner succeeds Bernd Kessler, who will join Switzerland-based aircraft maintenance, repair and overhaul company SR Technics to become its CEO.

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Zhuhai, China, October 1, 2007 – MTU Maintenance Zhuhai has won its first major European customer: The company has signed a contract with Norwegian Air Shuttle for the maintenance of CFM56-3 engines. The five years contract includes 44 engines powering Boeing 737-300 aircraft operated by the airline and is worth in excess of €90m euros.

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Jakarta, August 29, 2007 – MTU Maintenance has signed a joint operation agreement with the Indonesian maintenance, repair and overhaul (MRO) provider Garuda Maintenance Facilities (GMF) AeroAsia, a 1.25-million-square-meter facility: As a strategic partner, MTU Maintenance will take care of CFM56-3 engine MRO activities for the Indonesian market jointly with GMF AeroAsia. Besides the engines of the 37-aircraft B737 Classic fleet of Garuda Indonesia, also engines of other GMF customers will be maintained. Garuda Indonesia is Indonesia's largest airline and the 100-percent owner of GMF AeroAsia.

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Munich, August 20, 2007 – MTU Aero Engines intends to repurchase about 1 million additional own shares within the next six months. This has been decided by the company’s management board, after MTU had surpassed the level of holding 5 percent of its shares during the last week (as published on August 17, 2007). Since June 2006, the company has repurchased about 2,8 million of its shares.

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Munich, July 25, 2007 – MTU Aero Engines Holding AG achieved 8% growth to the end of June 2007, as expected. Revenues increased from €1,170.0 million (1-6/06) to €1,260.6 million (1-6/07) during this period. The group expects to sustain this same growth rate through to the end of the year. MTU’s earnings improved at an above-average rate: Adjusted EBITDA1 amounted to €181.0 million at June 30, 2007, thus exceeding the equivalent figure for the first 6 months of 2006 (1-6/06: €146.3 million) by 24%. Similarly positive results were reported for adjusted net income2, which increased by 10% from €55.5 million to €61.0 million. And this despite the fact that adjusted net income for the first six months of 2007 includes a non-recurring charge for the early redemption premium in connection with the high-yield bond. Excluding this exceptional charge, the increase would have amounted to 31%.
 

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Munich, July 24, 2007 – Egon W. Behle (51) will become Munich-based MTU Aero Engines Holding AG's new Chief Executive Officer (CEO), effective the beginning of 2008. The Supervisory Board of the MDAX-listed company nominated him to the position of CEO by unanimous vote on Tuesday, July 24. His term of office will run for three years. Behle, who has a degree in aerospace engineering, comes from ZF Lenksysteme GmbH in Schw?bisch Gmünd, where he has served as CEO since 2002. He succeeds Udo Stark (59), who had announced in March that now that he was turning 60, he opted not to renew his contract with MTU, which expires at year's end.

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Munich, July 18, 2007 – 15 percent, 20 percent, 30 percent – in three steps to climate-friendlier air traffic: MTU Aero Engines, in partnership with Bauhaus Luftfahrt, today unveiled an ambitious program designed to reduce the carbon dioxide emissions of aircraft engines. Its Clean Air Engine (Claire) technology project is to lower CO2 emissions by as much as 30 percent by 2035. Dr. Rainer Martens, executive vice president and chief operating officer (COO), at a Munich press briefing announced that by 2025, a 20-percent reduction may well have become a reality.

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Kota Damansara - Reflecting the present boom in the Asian and worldwide aerospace market, Airfoil Services Sdn. Bhd. (ASSB) of Malaysia is expanding its engine parts repair capacity: the joint venture company between MTU Aero Engines and Lufthansa Technik with around 350 employees at present has moved to a new production facility at Kota Damansara near Kuala Lumpur. Over 250 new jobs have been created so far through the expansion and the product portfolio is to be extended further. The new, state-of-the-art production facility was opened on June 28 in the presence of local representatives of industry and government.

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Paris, June 21, 2007 – For Germany's leading engine manufacturer, the air show in France's Le Bourget is paying dividends. MTU CEO Udo Stark was pleased to announce orders worth a total of 400 million euros. "The size of these orders underscores the significance the world's largest air show has for MTU," he said.

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Paris, June 18, 2007 – It bases on an entirely novel technology and is thriftier, appreciably cleaner and quieter than conventional engines: the innovative Geared TurbofanTM engine. It is targeted at the next generation of short- and medium-haul aircraft. Developing and equipping it with the latest technologies are MTU Aero Engines and Pratt & Whitney. The engine demonstrator bases on the PW6000, the engine powering the narrowbody Airbus A318 transport. MTU contributes to the project its high-pressure compressor plus an innovative high-speed low-pressure turbine.

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Paris, June 18, 2007 – While other repair people, when faced with a defective part, may be quick to reach for replacement parts, MTU's maintenance experts hesitate; they'd rather repair. Owing to its innovative processes and decades of experience, the world's largest independent provider of commercial engine maintenance services succeeds in repairing also heavily worn parts, components and accessories. MTU's high-tech repair approaches are globally unique, mostly patented and known under the trademark MTUPlus Repairs. "They go easy on our customers' pocketbooks and spare natural resources. Customer benefit and cost-effectiveness remain our top priorities," explains Bernd Kessler, MTU Aero Engines President and CEO Commercial Maintenance.

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Munich, May 29, 2007 – MTU Aero Engines is going to build a new foreign location in Rzeszów, in the southeast of Poland. This has been decided by the board of management of Germany's leading engine manufacturer today. The new site is intended to develop, manufacture and repair engine components. MTU will invest about 50 million euros in the new company within the next three years, which will be named MTU Aero Engines Polska. Starting in 2011, the cost advantages of the new facility will add some 15 million euros annually to the group's earnings. The decision still needs approval by the MTU supervisory board.

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Langenhagen, Germany – Off we go: On Wednesday, May 16, the foundation stone was laid at MTU Maintenance Hannover in Langenhagen for a new test cell. Lower Saxony's minister president Christian Wulff performed the ceremony alongside company representatives—headed by MTU executive vice president and COO Dr. Rainer Martens—and regional president Hauke Jagau. The senior politician told the blue-chip guests from politics, industry and science: "Lower Saxony's state government is enthused with this significant investment in Hannover. It clears the path for further growth at the location. MTU is a highly innovative company that closely cooperates with companies and research institutions in all of Lower Saxony. The investment again testifies to the amazing competence of Lower Saxony's aviation technology."

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Ludwigsfelde – André Sinanian (37) has been appointed vice president CF34 program. At MTU Maintenance Berlin-Brandenburg in Germany's Ludwigsfelde he will be responsible effective May 1 for the marketing, sales and customer service of the maintenance effort for that engine. Sinanian studied aerospace engineering and since 1999 has been with MTU Aero Engines, most recently in the corporate development department of MTU's Munich headquarters.   

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Munich –MTU Aero Engines Holding AG generated significantly increased revenues and earnings in the first quarter of 2007, sustaining the momentum of the strong performance in 2006. Revenues improved by 12% in the first three months of 2007, rising to €640.6 million (1-3/06: €574.5 million). MTU’s earnings rose significantly, with adjusted EBITDA1 reaching €90.6 million – an increase of 32% compared with the €68.8 million earned in the first three months of 2006. Adjusted net income2 for the first quarter 2007, at €26.1 million, remained more or less unchanged compared with the same period in 2006, when it amounted to €25.8 million. This year, however, it includes a nonrecurring charge for the early redemption premium in connection with the high-yield bond. Excluding this exceptional charge, adjusted net income increased by 45% to €37.5 million in the first quarter 2007.

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Munich - MTU Aero Engines, Germany's leading engine manufacturer and one of the world's major players in the industry, will for the first time exhibit this year at the Aerospace Testing Expo, March 27-29, in Munich. "What we hope to do is better market the testing competencies we've built over decades of commercial and military engine development," says Dr Sorina Seitz, who heads up Commercial Programs Supply Business at MTU. For the purpose, she continues to explain, the Munich exposition is the proper platform.

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Munich – MTU Aero Engines has increased its stake in General Electric Company’s (GE) F414 military jet engine, and also secured a stake in the predecessor engine model, the F404. As a risk- and revenue-sharing participant Germany's leading engine manufacturer now holds a 3.5 percent share in the F414 – up from 2.5 percent previously. In addition, MTU has taken an approximate 1.5 percent share in the F404.

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Munich – MTU Aero Engines Holding AG expects sustained growth in 2007. Revenues are targeted to rise by 8% to €2,600 million and adjusted EBITDA by 15% to €365 million. This forecast was announced by MTU on Tuesday, March 13, 2007 at the annual press conference.

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Hannover – MTU Aero Engines has received the largest maintenance contract in its annals: JetBlue Airways extended the term of the contract concluded with MTU Maintenance Hannover in 2005 from 10 to 15 years. The contract is worth 1.7 billion euros. That brings the overall JetBlue contract value to 2.4 billion euros. Totally, the maintenance order backlog of Germany's leading engine manufacturer now stands at more than five billion euros.

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Hannover – MTU Maintenance Hannover will have a new president and chief executive officer when on March 1, 2007, Dr. Uwe Bl?cker takes the helm of the company. He succeeds Ferdinand Exler, who had headed the company since January 2002.

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Hannover – MTU Maintenance has signed a contract with Cathay Pacific for the maintenance of CF6 engines. The open-ended contract includes 15 CF6-50E2 engines powering Boeing 747-200Fs operated by the airline. The maintenance work will be performed at MTU Maintenance Hannover at Langenhagen.

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Munich – The German Financial Reporting Enforcement Panel (FREP), which examines the financial statements of the majority of newly listed companies in Germany, has completed its examination of MTU Aero Engines Holding AG’s consolidated financial statements for the financial year 2005, pursuant to Section 342b (2) sentence 3 no. 3 of the German Commercial Code (random sample examinations). MTU has agreed to accept the results of this examination, following which the Federal Financial Supervisory Authority (BaFin) has ordered their publication.

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