newstodate.aero

Jan 09, 2020 (newstodate): The Estonian aviation group Magnetic MRO is adding yet another branch to its widening business scope: Magnetic Leasing.
   Teaming up in a JV with a US investment management firm US Crestline Investments, Magnetic Leasing will focus on mid-life Airbus A320 Family and Boeing 737 CL/NG, as well as engines and landing gear systems for narrow-body aircraft.  
   By the end of 2020, Magnetic Leasing expects to have a portfolio worth USD 100 million under its management, and within five years, the company expects to manage at least 30 narrow-body aircraft and 20 engines.
   Already from the start, Magnetic Leasing manages an asset portfolio which includes Airbus A320 Family, Boeing 737 NG and Boeing 737 CL aircraft, as well as CFM56-3, CFM56-5B, CFM56-7B, V2500-A5, RB211-535 engines and multiple Airbus A320 Family and Boeing 737 NG/CL aircraft landing gear sets.
    Since May 2018, Magnetic MRO is fully owned by the Chinese company Guangzhou Hangxin Aviation Technology.
   But according to agreements, Shenzhen Yongtai Trading Co., Limited, is authorized to take up to  13.44 percent in Magnetic MRO, and a Hong Kong-registered company Sapphire Investment Holding Limited is authorized to take up to 1.60 percent in Magnetic MRO, bringing Guangzhou Hangxin's stake down to 84.96 percent.