Lufthansa Group is accelerating the modernization of their fleet, the Executive Board of Deutsche Lufthansa AG decided to buy ten long-haul aircraft: five Airbus A350-900s and five Boeing B787-9. The Supervisory Board approved the purchase today. These aircraft will be operated by Lufthansa Airline.
Due to the dramatic impact of the coronavirus pandemic on global aviation, aircraft that had been ordered by some airlines could not be delivered in the past twelve months. Lufthansa held talks with Boeing and found a way to buy five 787-9 that were already manufactured. At the same time, the Group reached an agreement with Boeing on a restructured delivery plan.
The first Boeing 787-9s are scheduled to fly for Lufthansa as early as next winter, with others to follow in the first half of 2022. The Lufthansa Group placed their initial order for 20 787-9s in 2019. The new purchase agreement takes the group's order book to 25 787-9s.
Today's decision brings the total number of firm orders for Boeing 787-9s and Boeing 777-9s to 45 aircraft (25 B787-9 and 20 B777-9).
The five newly ordered Airbus A350-900s will be delivered in 2027 and 2028. This brings the total number of firm orders for the A350-900 to 45 aircraft.
The Lufthansa Group also agreed with Airbus on a restructuring of planned deliveries. In the current year alone Lufthansa will take delivery of a new, fuel-efficient, Airbus A320 family aircraft, for short- and medium-haul routes on average every month. Delivery of a further 107 Airbus A320 Family aircraft is planned until 2027.
The Boeing 787-9 and Airbus A350-900 will essentially replace the four-engine A340 long-haul aircraft as part of this process. Plans call for reducing the number of four-engine aircraft in the Lufthansa Group long-haul fleet to less than 15 percent by the middle of this decade; before the crisis, the share was around 50 percent.
As part of the long-standing fleet renewal program, a total of 175 new aircraft will be delivered to Lufthansa Group airlines this decade.
Carsten Spohr, Chairman of the Executive Board and CEO of Deutsche Lufthansa AG
"Even in these challenging times, we are continuing to invest in a more modern, more efficient and a lower emission Lufthansa Group fleet. At the same time, we are pushing ahead with the modernization of our long-haul fleet even faster than planned prior to the coronavirus pandemic due to anticyclical opportunities. The new aircraft are the most modern of their kind. We want to further expand our global leadership role, among other things, with cutting-edge premium products and a state-of-the-art fleet, especially because we have a responsibility to the environment."
The investment in new aircraft is in line with the framework agreement between the Economic Stabilization Fund of the Federal Republic of Germany (WSF) and Deutsche Lufthansa AG. The investments are also in line with the Group's policy of limiting annual capital expenditures to the level of depreciation and amortization and strictly focusing on increasing company value.