Wednesday, February 20, 2013
MTU Aero: Air Traffic in Asia, Latin America, Middle East to Grow in 2013
German aircraft engine manufacturer MTU Aero Engines said air passenger traffic will increase in the Asia, Latin America and Middle East regions in 2013, during its annual results press conference in Munich on Monday. The company said the increase will lead to more profits for its OEM business.
MTU reported a revenue increase of 15 percent to $4.5 billion for 2012, and said it expects its commercial engine business to be “the area of strongest growth in 2013.”
In contrast, the manufacturer said it expects its military aircraft engine business to remain stable, a possible reflection of reduced defense budgets in the U.S. and other nations.
The company’s outlook for air passenger traffic increases reflects a report released by the International Air Transportation Association in late 2012; the report predicted international airline passenger traffic would grow at an average annual rate of 5.3 percent through 2016, lead by increased demand in Asia, Latin America and the Middle East.
“In the commercial sector of our OEM business, we expect growing revenues from the new GEnx and GP7000 programs. We also anticipate further growth in deliveries of V2500 engines, with the full effect of our increased program stake in 2013,” said Reiner Winkler, chief financial officer at MTU Aero. More