Hundreds of jobs guaranteed as Atlantic Aviation Group acquires Lufthansa Technik Shannon
THE Shannon Group welcomed the announcement by Atlantic Aviation Group (AAG) of the acquisition of Lufthansa Technik Shannon from its German parent company Lufthansa Technik.
The acquisition allows AAG to pursue its trajectory of continued growth and take advantage of the opportunities offered by the post-pandemic rebound in international aviation. Under the terms of the agreement, around 300 Lufthansa Technik Shannon employees will join the AAG group.
This will bring AAG’s total workforce to around 740 people at the Shannon and Brize Norton sites in the UK.
For the remainder of 2021, the two companies will focus on planning the transition with the goal of having a smooth integration in early 2022. The deal is subject to LHT’s supervisory board approval and terms. of the sale will remain confidential.
The purchase of Lufthansa Technik Shannon will make AAG the largest maintenance, repair and operations company in Ireland and set the company on course to become one of the largest independent MROs in Europe.
Like AAG, Lufthansa Technik Shannon enjoys a solid reputation in the global market for its maintenance standards and highly skilled workforce.
In February, AAG announced the acquisition of Flybe’s former aircraft maintenance services business in Brize Norton in Oxfordshire, England. It was renamed AAG Defense Services in June 2020.
Commenting on today’s announcement, AAG Managing Director Shane O’Neill said: âToday is a good day for Irish aviation. By integrating Lufthansa Technik Shannon into the AAG family, we will create a platform for future success. We are proud to be able to secure around 300 jobs for the region – a majority of positions in the outgoing business of Lufthansa Technik Shannon. We look forward to welcoming this highly skilled team into our operations and furthering our incredibly talented and experienced team at AAG. “
Mr. O’Neill says the company has close relationships with its customers and that its customers have been incredibly supportive of its growth plans.
âWith the acquisition of Lufthansa Technik Shannon, we will be able to serve more customer fleets and offer maintenance solutions for A320 and B787 aircraft. We view the expertise and experience of the LTSL team as an extremely positive addition to our own expertise, âhe said. noted.
AAG was acquired in April 2015 by Patrick Jordan who welcomed the acquisition of Lufthansa Technik Shannon.
âOur goal at AAG has always been to become one of the best aerospace solutions companies in the world. A company with the best quality people and skills and with a growth strategy and ambition to match. I look to the future with confidence and enthusiasm, âhe said.
Today’s announcement by @AtlanticAvGrp (AAG) that they are acquiring Lufthansa Technik Shannon and that this company will remain in Shannon is good news, says our CEO, Mary Considine.
– Shannon Group plc (@SNNGroup)
12 October 2021
Shannon Group CEO Mary Considine welcomed Atlantic Aviation Group’s announcement of its acquisition of Lufthansa Technik Shannon.
âToday’s announcement by Atlantic Aviation Group of the acquisition of Lufthansa Technik Shannon and the continuation of this business in Shannon is good news. As customers of the Shannon Group, AAG and Lufthansa are an important part of the Shannon FTZ ecosystem and the group of aviation companies here, and I would like to congratulate AAG and wish them every success in the future. She said.
AAG’s customer portfolio includes 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 .