Atlantic Aviation Group (AAG) has acquired the Lufthansa Technik Shannon business from its German parent Lufthansa Technik (AG).
The company states that this acquisition positions AAG to continue its ongoing growth trajectory and to avail of the opportunities provided by the post-pandemic rebound in international aviation.
Under the terms of the deal, approximately 300 Lufthansa Technik Shannon employees will join the AAG group. This will take AAG’s total workforce to approximately 740 people across sites in Shannon and Brize Norton in the UK. For the remainder of 2021, both companies 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.
Commenting on today’s announcement, AAG Chief Executive Shane O’Neill, said: “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.
“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.”
AAG was acquired in April 2015 by Patrick Jordan. Commenting on the acquisition of Lufthansa Technik Shannon, Jordan said: “Our goal at AAG has always been to become one of the world’s very best aviation solutions companies. 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.”