Magnetic MRO Acquired by Chinese Investor
Chinese engineering and repair specialist Guangzhou Hangxin Aviation Technology has acquired Magnetic MRO after buying 100% of shares in the Estonian company.
In a Jan. 3 statement, Magnetic MRO said Hangxin will now be the sole strategic investor after acquiring the shares from its private equity parent company, BaltCap, along with unnamed minority shareholders.
A spokesperson told MRO-Network.com that further details of the change in ownership will be unveiled in March, when all formalities are expected to be finalized.
Risto Maeots, CEO of Magnetic MRO, says the change in shareholders comes at a time when the company is seeking to expand its global presence. “Magnetic MRO management has been actively looking for opportunities to expand into Asia, the highest-growth market in aviation,” he says.
“Hangxin, with its existing geographical presence and service portfolio, is complementary to Magnetic MRO, creating substantial synergies and new business opportunities,” Maeots adds.
BaltCap, a venture capital firm with interests in Estonia, Latvia and Lithuania, has held a stake in the company since 2010. During this period, it states that Magnetic MRO has seen significant growth, including a near-trebling of its staff to 440 by the end of 2016.
Magnetic MRO, which rebranded in September 2014 from its previous name, Air Maintenance Estonia, has begun introducing new capabilities such as aircraft paint services and expanded approvals (including FAA certification) and is investing in emerging technologies such as virtual reality platforms.
It has also made acquisitions of its own, in the form of UK-based aircraft interiors specialist MAC Interiors, a deal that was finalized in February 2016.
Mali’s ASAM Wins EASA AMO Certification
The European Aviation Safety Agency (EASA) has certified Assistance Aeroportuaire du Mali (ASAM) as an approved maintenance organization (AMO), allowing the African company to offer line maintenance services for the Boeing 737-300/400/500 series, Boeing 737NG-family and Airbus A320-family aircraft at Modibo Keita-Senou International Airport in the West African nation’s capital, Bamako.
ASAM’s Bamako station was certified as a Part 145-approved line maintenance site as a result of the Malian company’s partnership with AMC Aviation, a French MRO provider that already has EASA AMO certification.
The EASA certification allows ASAM to offer line maintenance and issue a certificate of release to service for 737-family and A320-family aircraft registered in any member country of the European Union or registered with EASA.
ASAM is branding its line maintenance services under the ASAM Technics name and is one of the first non-airline AMOs in West Africa, according to the company.
ASAM Technics completed its first line maintenance job on Dec. 13, on an Aigle Azur A320 due to operate from Bamako to Paris Orly Airport.
“African companies are in a constant and urgent search for cost-saving solutions, particularly in terms of aeronautical maintenance, and Mali’s strong geo-strategic location allows it to deliver aeronautical services to the entire subregion,” says Dominique Dreuil, CEO of ASAM.
“A new terminal has just been completed at the Bamako airport, and the establishment of a rigorous environment with international standards will only further increase the attractiveness of this hub,” adds Dreuil.
ASAM, a Malian joint venture company that resulted from a public-private partnership with the Europe Handling Group, has been responsible since 2007 for the development and support of ground-handling and airport freight services at Mali’s main airports: Bamako, Gao, Kayes, Mopti and Timbuktu.
Aeronautical Engineers Inc. (AEI) won a contract from Miami-based Regional One to convert an ex-J-Air Bombardier CRJ200 to a freighter at Commercial Jet in Miami for lease in mid-2018 to Airest, Estonia, which plans to acquire up to four AEI-converted CRJ200SFs.
Aersale was selected by Precision Aircraft Solutions to perform Boeing 757-200PCF freighter conversions, plus regular maintenance checks, aircraft painting and avionics mods; other Precision mod centers are Flightstar, Haeco and Ameco.
Delta TechOps reached long-term agreement with Pratt & Whitney to provide MRO services for PurePower PW1100Gs (for the Airbus A320neo family) and PW1500Gs (for the Bombardier C Series); the deal calls for over 5,000 shop visits.
FL Technics LIthuania secured A320 base maintenance contracts from Germanwings and Swiss International Air Lines, and also completed C Checks at Vilnius on its first two Boeing 737s for Luxair.
KLM UK Engineering won a West Atlantic UK contract to provide 737F checks.
Monarch Aircraft Engineering won a long-term Wizz Air contract to provide A320 line maintenance at London Luton.
Pratt & Whitney won a 12-year EngineWise Fleet Management contract with S7 for 30 GTF-powered A320neos/A321neos.
Services by Airbus won an American Airlines contract to provide cabin upgrades, including Airspace XL bins, for 202 A321s.
StandardAero was selected by Yamal Airlines to maintain GTCP36-150RJ (CRJs) and RE220 (SSJs) APUs.
VD Gulf of the United Arab Emirates secured a Rossiya Airlines contract to provide seven 747-400 heavy checks in 2018.