Magnetic MRO received approval by Boeing to become a certified GoldCare aftermarket provider for line and base maintenance services on the 737MAX and 787 aircraft.
As a partner, Magnetic MRO will be able to conduct Boeing-managed maintenance, engineering and materials services for third-party operators of the aircraft.
Risto Mäeots, CEO of Magnetic MRO, says the agreement came about due to a combination of two factors--its history with Boeing aircraft and the OEM’s ambitious aftermarket expansion plans.
“We have extensive experience on Boeing aircraft having maintained classic variants since 1995 and subsequently next-generation and now MAX aircraft,” he told MRO-Network.com at ap&m Europe on Wednesday (May 31). “Boeing also has a strategy to build its aftermarket presence, having made other GoldCare-related announcements in the past few years.”
Mäeots says that the process to joining the program was a quick one, taking around three months from being approached by the aircraft manufacturer to signing the multi-year agreement. During that period, Boeing reviewed Magnetic MRO’s financial performance to ensure it met the GoldCare criteria.
With around 15-18% of its revenues emanating from hangar services, Mäeots says being part of the program will contribute to the hangar and line maintenance operation figures, but other capabilities such as engine management and spare parts trading will remain the two key drivers of its revenue.
However, the impact of having GoldCare status could be almost immediate, Mäeots says. “We will look at potential new base maintenance customers around Central & Eastern Europe but line maintenance customers could come from anywhere across the world,” he says.
Magnetic MRO joins the likes of Monarch Aircraft Engineering, British Airways Engineering and Norwegian Air Shuttle as European maintenance providers in the GoldCare network, expanding Boeing’s aftermarket footprint on the continent.
In November 2016, around the time it announced plans to triple its aftermarket revenues to $50 billion over the next decade, Boeing also confirmed plans to build a new GoldCare maintenance hangar at London Gatwick Airport.