FL Technics, a global provider of one-stop-shop aircraft maintenance, repair and overhaul services, has announced its yearly business review, displaying a stable, over 20% growth in revenues as well as continuing service and geographical diversification.
Bouncing back from bankruptcy of a major client and a financial backdrop in the year 2015, FL Technics has managed to maintain the rise in revenue numbers over the year 2016, as well as trigger a jump in net profit (from a loss of 11 million EUR in 2015 to a profit of almost 3 million EUR in 2016). The numbers were mainly affected by the company’s growing operations in Asia Pacific, new clientele as well as LEAN business process optimization.
In 2016, FL Technics opened a representative office in Bangkok, Thailand and a new hangar in Jakarta, Indonesia. Increasing presence resulted in an upward trend of revenue from the region, which grew on average 4 times year-on-year. The company also continued the diversification of its client and service portfolio.
“2016 was a very interesting year that I am proud to say we finished over and above the expectations due our expertise in the field as well as flexibility. After the challenging year 2015, our focus shifted largely on diversification. We managed to decrease our dependency on the CIS market and increase our client portfolio from other regions by over 25% in a single year thanks to our dedicated sales force,” explains Zilvinas Lapinskas, the CEO of FL Technics. “We also introduced new services that gained traction and are already popular amongst major industry brands such as technical asset management for lessors. We anticipate continuing to grow our presence in Asia as well as making maintenance and support services even more effective throughout 2017.”
FL Technics provides comprehensive MRO support including but not limited to base, line maintenance, spare parts support, engine and component management, engineering, DOA, training, CAMO. The company is a part of Avia Solutions Group – a publicly listed aviation holding with over 20 subsidiaries worldwide.