newstodate.aero
Aug 03, 2017 (newstodate): The Estonian MRO provider Magnetic is carving a new niche: engine and aircraft part-out.
Together with the US company Crestline Investors, Magnetic has set up a new JV subsidiary, Magnetic Parts Trading Limited to focus on purchasing aircraft and engines, parting-out and sales as individual spares and components.
For a start, the new company will include Airbus A320 and Boeing 737 aircraft purchases and activities will commence already by this year's Q3.
-Strategically, this is a huge step for Magnetic MRO. It will secure us a niche in the aviation asset management segment, which is yet another way to stand out from the other regional MRO providers, says Jonas Butautis, Magnetic CEO.
Together with the US company Crestline Investors, Magnetic has set up a new JV subsidiary, Magnetic Parts Trading Limited to focus on purchasing aircraft and engines, parting-out and sales as individual spares and components.
For a start, the new company will include Airbus A320 and Boeing 737 aircraft purchases and activities will commence already by this year's Q3.
-Strategically, this is a huge step for Magnetic MRO. It will secure us a niche in the aviation asset management segment, which is yet another way to stand out from the other regional MRO providers, says Jonas Butautis, Magnetic CEO.