Atlantic Aviation acquires Lufthansa Technik Shannon securing 300 jobs 

Consultation talks to begin with 180 Lufthansa workers now facing redundancy 

The acquisition will bring Atlantic Aviation Group's total workforce to 740 people.

The Atlantic Aviation Group (AAG) has confirmed the acquisition of Lufthansa Technik Shannon (LTSL) from its German parent Lufthansa Technik.

The deal means approximately 300 of the 485 workers will join the AAG group. Both companies currently carry out aircraft maintenance work at Shannon Airport.

It will bring AAG’s total workforce to approximately 740 people across sites in Shannon and Brize Norton in the UK. 

In a statement, LTSL confirmed that approximately 180 roles are at risk of redundancy and that a consultation process around the proposed redundancies will commence over the coming weeks.

Pat Shine, CEO and MD of Lufthansa Technik Shannon said the severe impact of the Covid-19 pandemic led to an extensive strategic review of the business to determine its future. "The sale of LTSL to AAG, a company that understands our business and has a strategy for growth through acquisition, presented itself as the most viable solution to minimise job losses," he said.

"This is a really difficult day for our colleagues in LTSL, many of whom have worked for the company for more than 15 years." The company said they will assist those affected by the proposed redundancy programme by way of outplacement advice and services. The transfer of shares in LTSL to AAG is expected to be completed by 31 March 2022.

 AAG Chief Executive Shane O’Neill said they were proud to be able to secure approximately 300 jobs for the region.

“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 he said their goal 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," he said. "I am looking to the future with confidence and excitement.” 

Despite the challenges facing some parts of the aviation sector during the pandemic, AAG has developed its customer base, international reach and its boardroom expertise.

It is now one of Europe's leading independent aviation organisations offering services in maintenance, repair and overhaul, aircraft modifications, continuous airworthiness management, aviation training and defence services.

Its 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.