Atlantic Aviation Group (AAG) has formally acquired Lufthansa Technik’s Shannon business.
Under the terms of the deal, approximately 300 Lufthansa Technik Shannon employees will join the AAG group.
AAG said the acquisition would enable it to continue its “ongoing growth trajectory” and “to avail of the opportunities provided by the post-pandemic rebound in international aviation”. It becomes the largest MRO in Ireland and “on track to becoming one of the largest independent MROs in Europe”.
AAG and the current Lufthansa Technik Shannon business will focus on transition planning for the remainder of 2021, with the aim of having a “smooth” integration in early 2022.
The deal is subject to approval from the Lufthansa Technik supervisory board, with the terms of the sale remaining confidential.
“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,” said AAG’s chief executive Shane O’Neill.
“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 787 aircraft maintenance solutions. We see the expertise and experience of the Lufthansa Technik Shannon 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, he commented: “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.”
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.