Harald Gloy, who has served as Chief Operating Officer for operations and logistics at Lufthansa Technik since July 2022, is reportedly slated to take the helm of the company early next year. The Supervisory Board of the Lufthansa maintenance subsidiary is expected to vote on a corresponding proposal this coming Friday, according to the business newspaper Handelsblatt, which cited sources close to the company. These sources described his promotion as “relatively certain.”
Lufthansa Technik and its parent company did not comment on the rumors when approached by the newspaper. Gloy would succeed Sören Stark, who has led Lufthansa Technik since 2019 and is set to retire due to age in January. Lufthansa Technik, alongside the Lufthansa Cargo freight subsidiary, is considered a highly profitable operation for the group.
In 2023, the maintenance specialist established an ambitious growth plan under the initiative “Ambition 2030.” This plan aims for revenues to rise from 5.6 billion euros in 2022 to over ten billion euros by 2030, and for the adjusted operating profit before interest and taxes (EBIT) to increase from 511 million euros to more than a billion euros. Furthermore, the adjusted profit margin is targeted to reach at least ten percent.
However, due to global crises, Lufthansa Technik’s results and margins have recently declined. The adjusted profit margin decreased from 9.3 percent in 2023 to 7.5 percent last year. Consequently, sources within the supervisory committee emphasize the critical need for the maintenance company to have a leader with deep operational knowledge.
