Irish-owned aviation company Shannon Technical Services has announced that it will create 80 new jobs by the end of 2023.

The company, which is based in Shannon in Co Clare, currently employs 40 people.

Founded in February 2019, its services include management of aircraft transitions, redeliveries, engine management and materials and logistics management for global aircraft lessors and airlines.

It said it will increase headcount to 60 by the end of 2021, 100 by the end of 2022, and upwards to 120 by 2023.

The new roles will be across operations, commercial, administration and aviation technical services.

As part of its expansion, Shannon Technical Services (STS) said it will also open a new office in Dublin.

57 of the new jobs are supported by Enterprise Ireland.

Ben Whelan, founder and CEO of Shannon Technical Services, said that as the recovery from these turbulent times for society and in particular for the aviation sector starts, the company feels privileged to be expanding and providing attractive job opportunities in Shannon and at a new office in Dublin.

"The aviation industry has demonstrated resilience many times in the past and I'm confident that it will, once again, bounce back," he added.

Julie Sinnamon, the chief executive of Enterprise Ireland, said that Ireland is a global leader in aviation. She said the creation of these new jobs demonstrates that Irish innovation and enterprise in the sector continues to thrive on a global scale, despite the very challenging and uncertain market circumstances.