Lufthansa Technik Puerto Rico granted gov’t funding to face COVID-19
Lufthansa Technik Puerto Rico (LTPR), LLC has agreed to receive funding support from the government of Puerto Rico to cope with the challenges the aviation industry is facing, Department of Economic Development and Commerce Secretary Manuel Cidre confirmed.
Lufthansa Technik Puerto Rico is part of the Germany based Lufthansa Technik Group and is specialized in maintenance, repair, and overhaul (MRO) of commercial aircraft fleets. It has been operating in Aguadilla since mid-2015 and is the only Lufthansa Technik base maintenance company in the Americas.
The stimulus assigned to LTPR will support the future of its operations and its workforce, which consists of 318 employees. In addition, it will allow the aerospace corporation to increase the acquisition of goods and locally sourced services.
The aid comes from the Economic Incentives Fund, which is part of the new Puerto Rico Incentives Code, Cidre said.
These incentives will not only be used to retain existing jobs, but to create additional positions despite the unprecedented worldwide economic recession in the aviation industry, he said.
Lufthansa Technik Puerto Rico confirmed to the agency that it has secured two “substantial” contracts with airline customers, partially due to the assistance received from the government. The performance and delivery of services for these contracts will move forward with the incentives.
“With our support, Lufthansa Technik Puerto Rico is committed to retain and recruit highly qualified workers with expertise in aviation management, engineering, and mechanics. We want to encourage companies like Lufthansa Technik to stay in Puerto Rico and develop their operations by providing secure opportunities for skilled labor, as our workers deserve,” said Cidre.
Meanwhile, LTPR’s CEO Pat Foley said, “We’re thankful to the government, and especially the Department of Economic Development and Commerce, for their trust in us. We aim to continue hiring Puerto Rican professionals and contributing to the economic growth of the Island with a commitment to ensure our long-term future in Aguadilla.”