Atlantic Aviation Group CEO, Shane O’Neill. Photograph by Eamon Ward.
THE Shannon Group has welcomed the announcement by Atlantic Aviation Group (AAG) that it has acquired Lufthansa Technik Shannon from its German parent company Lufthansa Technik.
The 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 bring 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.
The purchase of Lufthansa Technik Shannon will make AAG the largest maintenance, repair, and operations company in Ireland and put the business firmly on track to become one of the largest independent MROs in Europe.
Like AAG, Lufthansa Technik Shannon has a strong reputation in the global market for its maintenance standards and a highly skilled workforce.
In February, AAG announced the acquisition of Flybe’s former aviation maintenance services operations at Brize Norton in Oxfordshire, England. It was rebranded as AAG Defence Services in June 2020.
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."
Mr O'Neill says the company fosters close customer relationships and that its customers have been incredibly supportive of its 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," he said.
AAG was acquired, in April 2015, by Patrick Jordan who has welcomed the acquisition of Lufthansa Technik Shannon.
“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,” he said.
Today’s announcement by @AtlanticAvGrp (AAG) that they are acquiring Lufthansa Technik Shannon, and that this business will remain in Shannon is welcome news says our CEO, Mary Considine.— Shannon Group plc (@SNNGroup) October 12, 2021
Shannon Group CEO, Mary Considine, has welcomed the announcement by Atlantic Aviation Group of its acquisition of Lufthansa Technik Shannon.
“Today’s announcement by Atlantic Aviation Group that they are acquiring Lufthansa Technik Shannon, and that this business will remain in Shannon is welcome news. As customers of Shannon Group, both AAG and Lufthansa are an important part of the Shannon Free Zone’s ecosystem and the cluster of aviation businesses here, and I would like to congratulate AAG and wish them every success into the future,“ she said.
AAG's portfolio of customers 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.
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