With the team of 1200 people working in hangars in Lithuania, Indonesia and within the network of 14 line stations worldwide, FL Technics has finished last year with net profit of € 5,7 Million.
FL Technics is a global provider of aircraft maintenance, repair and overhaul (MRO) services. Company specializes in base & line maintenance, spare parts & component support, engine, APU & LG management, full aircraft engineering, technical training.
The picture was a bit different four years ago when current CEO Zilvinas Lapinskas joined the company.
In 2015 the major client at that time announced that it would cease all operations and left FL Technics with € 8 Million of unpaid bills. The company finished that year with the loss of € 11 Million.
The key to success was at that difficult time and still is now the continuous implementation of LEAN management system.
In theory, LEAN is a systematic method to identifying and eliminating waste, through continuous improvement by flowing the product or service at the pull of the customer, in pursuit of perfection.
It is also about principles: about building a culture of continuous improvement, about respect and involvement of all people and most important – it is about growing leaders.
In order to work more effective, FL Technics trained the mechanics, launched the FL Technics BAY system (a certain type of project management system, where dedicated team is working on one aircraft) and thus attracted 1st-tier European airlines as clients. Lufthansa group, Corendon, Luxair are maintained in FL Technics hangars. In two hangars in Lithuania FL Technics had served more than 100 aircraft from 27 airlines from 17 countries in 2017.
NET PROFIT „FL Technics“
2014 € 0,14
2015 € -11 M
2016 € 2,8 M
2017 € 5,7 M
CLIENTS
1st-tier European clients: Lufthansa Group, Luxair, Turkish airlines
In two hangars in Lithuania we had served more than 100 aircraft from 27 airlines from 17 countries in 2017
CLIENT PORTFOLIO DIVERSIFICATION
2013 From Russia & CIS region 80% of revenue
2017 From Russia & CIS region 40% of revenue
NEW MARKETS
Asia: hangar in Indonesia in 2016
To be opened: hangars in China, Thailand, India