Lufthansa Technik AG is now the sole owner of the American company AirLiance Materials, one of the world's largest suppliers of quality-assured used aircraft spare parts.

Lufthansa Technik announced that it had taken over the shares previously held by the two minority owners United Airlines and Air Canada.

"Since its beginnings nearly 14 years ago, AirLiance has reliably achieved its revenues and results targets and demonstrated its value as a supplier able to offer airlines and aircraft operators significant cost advantages," said Wilken Bormann, head of Controlling and Subsidiaries at Lufthansa Technik, commenting on the takeover of the shares. "With an additional financial and strategic commitment from Lufthansa Technik, AirLiance will be able to expand its worldwide service portfolio even further."

AirLiance Materials' new President and CEO is the company's long-standing Chief Operating Officer Roscoe Musselwhite. He succeeds David Sisson, who has been at the helm of the company since its founding in 1998 and is now retiring.

Source: Lufthansa Technik AG