| Irish MRO company Atlantic Aviation Group (AAG) announced to take over the activity of Lufthansa Technik in Shannon (formerly Shannon Aerospace). The transaction amount was not disclosed.
Lufthansa Technik Shannon specializes in aircraft base maintenance and overhauls for the Boeing 737 Classic and NG families, 757, 767, 777, 787, MD-80 and on the Airbus A320 family. Its customers include DHL, Ryanair, ASL Airlines, Star Air, TUI Group, Jet 2 as well as major aircraft lessors such as GECAS, AerCap, Bank of America, SMBC, BBAM, Seraph, Aergo and Avolon.
Atlantic Aviation Group specifies that this acquisition will allow it to pursue its trajectory of continuous growth and to take advantage of the opportunities offered by the post-pandemic rebound in international aviation. With a workforce of approximately 740 people, AAG aims to become Ireland's largest MRO and one of the largest independent MROs in Europe. It also intends to position itself particularly on the A320 and 787 plaforms.
Under the terms of the agreement, around 300 Lufthansa Technik Shannon employees will join the AAG group.
"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" commented Shane O'Neill, CEO of Atlantic Aviation Group.
As a reminder, AAG acquired part of the activity of Flybe Aviation Services (FAS), the maintenance company based in Exeter which was linked to the defunct regional company Flybe which disappeared last year. This activity is based at Brize Norton Air Base, which has been renamed AAG Defense Services and which provides MRO services for the Royal Air Force A400M fleet.