MTU Aero Engines reports commercial maintenance revenue contracted by 7% in 2020

MTU Aero Engines AG reported (18-Feb-2021) revenue from commercial maintenance contracted by 7% year-on-year to EUR2522 million in 2020. Revenue from the 'Geared Turbofan' retrofit programme - comprising warranty work for the PW1100G-JM - largely offset the drop in revenue in the core MRO business. The principal revenue drivers in the commercial MRO business were the V2500 and the PW1100G-JM. MTU logged more than USD5 billion in new MRO orders in 2020. [more - original PR]