July 26, 2012
LTQ Engineering to cease operations
The Australian aircraft engine overhaul provider LTQ Engineering, which is based in Tullamarine, will cease operations and close its doors in September owing to the strong decline in engine overhaul demand. The closure was announced by the company, a joint venture of Lufthansa Technik (50%) and Qantas Airways Limited (50%), on July 26 in Melbourne. “Reduced regional demand, tough international competition and more reliable new generation engines have directly impacted the viability of the business. Simply put, LTQ does not have the scale of engine maintenance work to be competitive,” LTQ Chairman and Lufthansa Technik Chief Executive Officer, August Wilhelm Henningsen, said. LTQ has been in operation since 2004 – formerly under the name of Jet Turbine Services – before becoming a new joint venture between Lufthansa Technik AG and Qantas Airways Limited in 2008.