MANILA - Philippine Airlines has tapped Lufthansa Technik Philippines to maintain its new Airbus jets for 12 years, MacroAsia Corp said Friday.
The deal, which will take effect on May 31, is estimated to be worth $260 million (P13.6 billion) during its lifespan, said MacroAsia, which owns 49 percent of Lufthansa Technik.
Both Philippine Airlines and MacroAsia are chaired by billionaire Lucio Tan.
Lufthansa Technik will maintain PAL's Airbus A350s and A321 Neo planes. It had invested $15 million for training and tools as early as 2016 in preparation for the job, MacroAsia said.
The flag carrier said it was expecting delivery of 4 A350-900s, 6 Airbus A321neo and 5 Bombardier Q400 to end the year with 98 aircraft in its fleet.