IR-News details

• High standards of health protection for all employees
• Initial short-time working at German facilities

Munich, April 14, 2020 – Following the current three-week suspension of operations, MTU Aero Engines is planning a gradual restart of operations at its German sites. Capacities will be increased according to demand and the situation in the supply chain. Extensive measures have been prepared to protect employees’ health.

Short-time working will apply from April 20, 2020, at the company’s largest facility in Munich. This will be successively adjusted according to capacity requirements. In the first few weeks, a gradual increase in the presence of employees from both industrial and administrative areas is planned. In the week from April 20, around 20 percent of employees will already be working. In the following weeks, the volume of work will further increase gradually.

The restart at MTU Maintenance’s facilities in Hannover and Berlin will commence on April, 27. Some of the international maintenance locations are already operating at a high level, while others are adjusting very flexibly to suit customer needs and demand. Capacity adjustment measures, which may include short-time working, are still being determined.

Employees in short-time working will receive their salary from MTU proportionate to the number of hours worked, the short-time working allowance financed by the German Federal Employment Agency and a subsidy from the company. The Executive Board and senior management have waived income and set up a solidarity fund of more than four million euros for cases of particular hardship during short-time working.

Organizational and technical measures to prevent corona infections will be carried out throughout the restart of operations, ensuring high standards of health protection are maintained for employees at the facilities.

About MTU Aero Engines

MTU Aero Engines AG is Germany's leading engine manufacturer. The company is a technological leader in low-pressure turbines, high-pressure compressors, turbine center frames as well as manufacturing processes and repair techniques. In the commercial OEM business, the company plays a key role in the development, manufacturing and marketing of high-tech components together with international partners. Some 30 percent of today’s active aircraft in service worldwide have MTU components on board. In the commercial maintenance sector the company ranks among the top 3 service providers for commercial aircraft engines and industrial gas turbines. The activities are combined under the roof of MTU Maintenance. In the military arena, MTU Aero Engines is Germany's industrial lead company for practically all engines operated by the country's military. MTU operates a network of locations around the globe; Munich is home to its corporate headquarters. In fiscal 2019, the company had a workforce of more than 11,000 employees and posted consolidated sales of more than 4.6 billion euros.