- Acquisition will provide platform for growth and further expansion
- Cements Shannon’s role as global centre of aviation excellence
- AAG to offer maintenance solutions on more aircraft fleets including Airbus
Atlantic Aviation Group (AAG) is pleased to announce today that it has acquired the Lufthansa Technik Shannon Ltd. business from its German parent Lufthansa Technik (AG).
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.
AAG confirmed today that it has formally acquired the Lufthansa Technik Shannon business from Lufthansa Technik (AG). 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 MRO 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.
“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, Mr. 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.”
Despite the challenges facing some parts of the aviation sector during the Covid-19 pandemic, AAG has strategically developed its customer base, international reach, and the breadth of its boardroom expertise.
As one of Europe’s leading independent aviation organisations, it offers services in Maintenance, Repair and Overhaul, Aircraft Modifications, Continuous Airworthiness Management, Aviation Training and Defence Services.
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.