Shannon Chamber Statement re acquisition of Lufthansa Technik Shannon Ltd. by Atlantic Aviation Group

Shannon Chamber welcomes the announcement today (Tuesday, 12 October 2021) that Shannon-based Atlantic Aviation Group (AAG) has acquired Lufthansa Technik Shannon Ltd., from its German parent, Lufthansa Technik (AG).

Chamber president Stephen Keogh stated: “Lufthansa Technik Shannon Ltd., has provided valuable employment in Shannon in a critical area in aviation – maintenance, repair and overhaul (MRO) – since its establishment at Shannon and contributed greatly to the growth of this sector at Shannon. This retention of 300 skilled employees as a result of this acquisition is therefore most welcome. 

“AAG has had a very positive impact on the aviation sector in Shannon and in Europe since its executive chairman, Patrick Jordan, acquired the business from Transaero in 2015. Under his stewardship, AAG has grown phenomenally, not just through increasing employment levels at Shannon from 220 in 2015 to its current levels of 437, now set to increase by 300, but also, through expanding its capabilities and range of business operations.   

“A decision of this nature is difficult for everyone, particularly employees and their families who will be impacted. The impact of the pandemic has weighed heavily on the aviation sector for near two years now and the recovery has been slow and challenging for many companies. With aircraft grounded for over a year, the MRO sector has been particularly impacted. However, this acquisition by AAG, instils confidence that aviation businesses and the MRO sector is on a recovery trajectory. We wish chairman Patrick Jordan, CEO Shane O’Neill and his management team success on the journey ahead and congratulate them on their achievement of positioning Shannon as a leading contributor to MRO in Europe. We look forward to working alongside AAG as it takes the company to a new level.

“Shannon Chamber is very much committed to supporting Lufthansa Technik Shannon Ltd.’s CEO, Pat Shine, and his colleagues as they manage this transition in the months ahead. We will endeavour to support employees negatively impacted by this announcement via Shannon Chamber Skillnet. The supports we have secured from Skillnet Ireland under the Skills Connect programme to support employees impacted in similar situations in the past have been welcomed as they have significantly improved their future employment opportunities. Skillnet Ireland’s ability to grant us funding to support employers and employees via our Skillnet has been unprecedented and very much welcomed in the region,” added Mr Keogh.