MTU Aero Engines on track to achieve 2020 revenue target

MTU Aero Engines CEO Egon Behle said (11-Sep-2012) the company has set a goal of EUR6 billion p/a in revenue by 2020. Mr Behle said the outlook for the market is positive, with global passenger air traffic growing at a steady rate, as well as demand for new aircraft. Total global air passenger traffic will increase 40% by 2020. Mr Behle noted the company's enhanced role in the International Aero Engines (IAE) consortium for the V2500 is a crucial milestone. MTU increased its share in the programme from 11% to 16% this year, and expects the move will generate an additional EUR3-4 billion in revenue over the next 25 years. The IAE partners have also agreed to set up a JV to build propulsion systems for next-generation aircraft. [more - original PR]