Atlantic Aviation Group plots future growth as it acquires Lufthansa Technik Shannon.
More than 300 jobs have been secured through Atlantic Aviation Group (AAG) acquiring Lufthansa Technik Shannon from its German parent.
AAG confirmed today that it has formally acquired the Lufthansa Technik Shannon (LTSL) business from Lufthansa Technik (AG). Under the terms of the deal, approximately 300 Lufthansa Technik Shannon employees will join the AAG group.
“Today is a good day for Irish aviation. In bringing Lufthansa Technik Shannon into the AAG family, we will be creating a platform for future success”
This will bring AAG’s total workforce to approximately 740 people across sites in Shannon and Brize Norton in the UK.
“Today is a good day for Irish aviation. In bringing Lufthansa Technik Shannon into the AAG family, we will be creating a platform for future success,” said AAG CEO Shane O’Neill.
“We are proud to be able to secure approximately 300 jobs for the region – a majority of roles from the outgoing Lufthansa Technik Shannon business. We look forward to welcoming this highly skilled team to our operations and adding to our incredibly talented and experienced team at AAG.
“We foster close customer relationships at AAG, and our customers have been incredibly supportive of our growth plans. Through the acquisition of Lufthansa Technik Shannon, we will be able to service more customer fleets and offer A320 and B787 aircraft maintenance solutions. We see the expertise and experience of the LTSL team as being a hugely positive addition to our own expertise.”
For the remainder of 2021, both companies said they will focus on transition planning with the aim to have a smooth integration in early 2022. The deal is subject to approval from the LHT Supervisory Board, and the terms of the sale will remain confidential.
The purchase of Lufthansa Technik Shannon will make AAG the largest MRO (maintenance, repair, overhaul) operator in Ireland and put the business firmly on track to become one of the largest independent MROs in Europe.
Customers include DHL, Ryanair, ASL Airlines, Star Air, TUI Group, Jet 2, and major aircraft lessors such as GECAS, Aer Cap, Bank of America, SMBC, BBAM, Seraph, Aergo and Avolon.
AAG was acquired in April 2015 by Patrick Jordan. “Our goal at AAG has always been to become one of the world’s very best aviation solutions companies,” said Jordan.
“A company with the best quality people and skills and with a growth strategy and ambition to match. I am looking to the future with confidence and excitement.”