Lufthansa Technik Philippines is expanding beyond Manila for the first time in more than two decades, breaking ground on a second aircraft maintenance base that will anchor its next phase of growth.
Lufthansa Technik Philippines, the aircraft maintenance venture backed by taipan Lucio Tan’s MacroAsia Corp. and Germany’s Lufthansa Technik, is expanding in the Philippines as global demand for aircraft maintenance continues to outpace available capacity.
MacroAsia Corp., the aviation services firm chaired by tycoon Lucio Tan, posted a 59-percent drop in first-quarter attributable net income as higher lease expenses and rising operating costs offset record revenues from its aviation and food businesses.
Taipan Lucio Tan’s MacroAsia Corp. (MAC) is putting up a P400 million headquarters in Parañaque as it consolidates its airport services operations and positions for more activity at the Ninoy Aquino International Airport, the country’s main gateway.
Taipan Lucio Tan’s MacroAsia Corp. is expanding its food business through a new joint venture in Cebu, marking a significant step in its plan to grow operations beyond Luzon.
The joint venture, launched in 2000 to support Philippine Airlines’ fleet renewal, has grown into a flagship maintenance, repair, and overhaul facility serving some of the world’s top airlines. Its presence has secured Manila’s role on the global aviation map while generating billions of pesos in foreign revenue and infrastructure investments.
Taipan Lucio Tan’s MacroAsia Corp. has appointed veteran retail executive Christina C. Tan, the president of Suy Sing Commercial Corp., as an independent director.