The new owner of the former aircraft maintenance, repair and overhaul (MRO) company Transaero Engineering Ireland has been confirmed as Patrick Jordan while the new business will be known as Atlantic Aviation Group.
The news comes after a 3-month examinership process, which concluded this week, succeeded in securing the Shannon Airport based business which employs 220 staff.
The company’s new owner Patrick Jordan has confirmed while “some change is needed” he intends to continue to operate the company as a leading MRO specialist and to grow the workforce in 2015 by hiring new apprentices.
“Shannon is recognised as a worldwide hub for aircraft leasing and maintenance. It has also been identified by the Government as a major growth sector. It was important that these jobs were not lost to the region, as an industry of this type cannot be turned on again overnight,” Mr Jordan said.
“I think this is a wonderful opportunity for all connected parties to stabilise and grow this business over the coming years. The company will need the support of our staff, customers, suppliers and the various state agencies to grow profitably but the support to date locally has been tremendous,” he added.
Company CEO William McGonagle said he is confident the new ownership will enable Atlantic Aviation Group to build on the strong relationship that it has with its core customers.
“I wish to acknowledge the remarkable support of customers, staff and suppliers over the past few months. The support shown to us by many in the industry is a great testament to what the company does – quality aircraft maintenance, employing a quality and responsive workforce,” Mr McGonagle said.
“Atlantic Aviation Group will focus on repaying that support over the coming months and years by continuing to deliver to our customers’ expectations,” he added
Shannon-based Fine Gael Senator Tony Mulcahy said: “This is a hugely positive story as it secures the future of a significant aircraft maintenance facility, which it will also give confidence to other operators considering investment in Shannon.”
“It is important that the former Transaero’s customers and suppliers also be acknowledged for their support for the company. This important Shannon operation can move forward with confidence and I am particularly delighted that job security has now been confirmed for workers there,” he added.