Story ID: 
LBAS Joint Venture Partners Agree to Extension
By: Matt Thurber
Caption: The three companies–Lufthansa Technik, Bombardier Aerospace and ExecuJet Aviation Group–that operate the joint venture Lufthansa Bombardier Aviation Servic
Word Count: 150
The three companies–Lufthansa Technik, Bombardier Aerospace and ExecuJet Aviation Group–that operate the joint venture Lufthansa Bombardier Aviation Services (LBAS) have agreed to modify and extend the terms of their arrangement and continue operating the maintenance company that they started more than 10 years ago. Lufthansa Technik and Bombardier launched LBAS at Berlin Schönefeld Airport in Germany in 1997 and ExecuJet joined the venture in 2005. LBAS specializes in maintenance on Bombardier Learjets, Challengers and Globals and holds Part 145 approvals from 15 different aviation authorities. LBAS employs 160 people and fields a mobile repair team that travels to distant locales such as Russia, the Cape Verde Islands and Mauritius to solve customer problems. “The continuation of the joint venture demonstrates the trust of all three shareholders in LBAS’s corporate concept,” said managing director Andreas Kaden. “Hence, we continue to successfully manage through this difficult economic period and are poised for future growth.”