Magnetic MRO

Last updated
Magnetic Group
FormerlyMagnetic MRO AS
Maersk Air Maintenance Estonia AS
Air Maintenance Estonia AS
IndustryAviation Services
PredecessorsMaintenance department of Estonian Air
FoundedMay 15, 2002;22 years ago (2002-05-15) in Tallinn, Estonia
Founder Maersk Air
Headquarters
Tallinn
,
Estonia
Area served
Worldwide
Key people
Risto Mäeots (CEO)
Services Aircraft maintenance
RevenueDecrease2.svg €88.4 million [1]  (2018)
Increase2.svg €5.1 million [1]  (2018)
Total assets  (2018)
OwnerGuangzhou Hangxin Aviation Technology
Number of employees
400 (2018)
Subsidiaries MAC Interiors
Magnetic Parts Trading Limited
Website magneticmro.com

Magnetic Group (former names: Magnetic MRO AS, Maersk Air Maintenance Estonia and Air Maintenance Estonia) is an aviation maintenance company headquartered in Tallinn, Estonia. The company offers a full range of commercial airplane maintenance services. It is certified by the European Aviation Safety Agency and the Federal Aviation Administration of the United States. The company operates worldwide. It is a subsidiary of Guangzhou Hangxin Aviation Technology.

History

The company was established in 1995 as a maintenance department of Estonian Air. In 2002, the maintenance department was separated from Estonian Air, and it became Maersk Air Maintenance Estonia, a company owned by Maersk Air. In 2003, the company was acquired by SAS Group. Accordingly, the company changed its name to Air Maintenance Estonia. In 2010, the company was bought by private equity and venture capital investor BaltCap. In 2014, the company was renamed Magnetic MRO. One year later the company established a sales and engineering office in London, United Kingdom. In 2016, Magnetic MRO acquired a United Kingdom-based aircraft interior company MAC Interiors (now known as Magnetic Creative). Also, in the same year, EngineStands24 was founded by Magnetic MRO. In 2017, the Estonian business promotion agency Enterprise Estonia selected Magnetic MRO as the Company of the Year and Exporter of the Year. In 2017, Magnetic MRO with Crestline Investors formed a joint venture Magnetic Parts Trading Limited, to purchase aircraft and engines, parting them out and selling as individual components. [2]

In 2018, Magnetic MRO was acquired by Guangzhou Hangxin Aviation Technology from BaltCap, a move consistent with Magnetic's desire to expand into the Chinese aviation market. [3] Since February 2019, bonds of Magnetic MRO with a redemption date in December 2021, have been traded on the Nasdaq Tallinn exchange as part of the MTF First North list. [1] Also in February 2019, MAC Interiors and Benniao Aviation created a joint venture MAC Sichuan to enter the cabin redevelopment market in China. [4]

In March 2019, Magnetic MRO has acquired Direct Maintenance, an Amsterdam-based independent MRO provider that is specialized in Line Maintenance for narrow- and wide-body aircraft. [5] In early 2020, the launch of Magnetic Leasing, a company with a focus on long and short-term aviation asset management and leasing, was announced. [6] Also, in March 2020, Magnetic MRO announced that the MAC Aero Interiors production facility has been moved to Tallinn, Estonia. [7]

In 2021, Magnetic MRO was rebranded, Magnetic Group company was established, a new company structure was announced and a new brand mission was presented. [8]

At the beginning of 2022, Magnetic Group announced the expansion and the opening of its new representative office in Miami, the USA. [9]

Related Research Articles

<span class="mw-page-title-main">Tallinn Airport</span> Airport in Tallinn, Estonia

Tallinn Airport is the largest international airport in Estonia. The airport is also officially called Lennart Meri Tallinn Airport after the former president of Estonia Lennart Meri.

airBaltic Latvian airline; Flag carrier of Latvia, Lithuania and Estonia

airBaltic, legally incorporated as AS Air Baltic Corporation, is the flag carrier of Latvia, with its head office on the grounds of Riga International Airport in Mārupe municipality near Riga. Its main hub is Riga, and it operates bases in Tallinn, Vilnius, Tampere and a seasonal base in Las Palmas launched in 2023. It is 97% owned by the Government of Latvia. It operates flights solely on Airbus A220 planes. It operates a frequent-flyer program and a buy on board menu offering food and drinks for purchase.

Estonian Air was the flag carrier airline of Estonia between 1991 and 2015. Headquartered in Tallinn it operated scheduled services from Tallinn Airport. Prior to its closure, the airline flew from Tallinn to 11 destinations in Europe.

SmartLynx Airlines Limited, previously LatCharter, is a Latvia-based ACMI, charter and cargo airline based in Mārupe, operating flights on wet lease out (ACMI), holiday charter flights, ad-hoc passenger charter and cargo flights across Europe, Africa, Asia, Australia, Canada and the United States.

<span class="mw-page-title-main">Eesti Gaas</span> Company based in Estonia

Eesti Gaas AS, branded internationally as Elenger, is an energy company with headquarters in Tallinn, Estonia. The company's main activity is selling and distributing of natural gas in Estonian, Latvian, Finnish, and Lithuanian markets. Eesti Gaas product portfolio includes also LNG, CNG, and electricity, including solar energy.

<span class="mw-page-title-main">Estonian Air Force</span> Air warfare branch of Estonias military

The Estonian Air Force is the aviation branch of the Estonian Defence Forces. The air force traces its history to 1918, and was re-established in its current form in 1991.

<span class="mw-page-title-main">Estonian Aviation Academy</span> Aviation school near Tartu, Estonia

Estonian Aviation Academy is a state-owned institution educating and training personnel for Estonian aviation enterprises and organizations. The academy is situated near the Tartu Airport. Instruction at the Estonian Aviation Academy meets the curricular requirements of the country's Ministry of Education and Research, as well as international agencies.

ST Engineering Aerospace, formerly known as ST Aerospace, is the commercial aerospace entity of ST Engineering. Headquartered in Singapore, it has international offices and facilities located at aviation hubs in Asia-Pacific, Europe and the United States. ST Engineering's Commercial Aerospace business provides aircraft design and engineering, original equipment manufacturing, nose-to-tail aftermarket and maintenance services as well as assets management and leasing. And also passenger-to-freighter conversion or refurbishment.

<span class="mw-page-title-main">Gediminas Žiemelis</span> Lithuanian businessman

Gediminas Žiemelis is the richest Lithuanian businessman, selected twice among the top 40 most talented young industry leaders by Aviation Week & Space Technology. He is currently the chairman of the board at Avia Solutions Group and former chairman of the board, founder and UBO at Vertas Management AB.

<span class="mw-page-title-main">Nelja Energia</span> Company based in Estonia

Nelja Energia AS is a renewable energy developer based in Tallinn, Estonia. The main areas of business of the company are the development of the renewable energy industry and the operation of power production. The name of the company, meaning Energy of Four, is referring to the four type of renewable energy: wind, water, biomass and solar. The company is focused on the renewable energy development in the Baltic countries. The CEO of the company is Aavo Kärmas.

Airborne Maintenance & Engineering Services (Airborne) is an MRO based in Wilmington, Ohio, Ohio, USA at the Airborne Airpark (ILN) and Tampa International Airport (TPA). They provide aircraft maintenance, repair, and overhaul services including Heavy Maintenance, Line Maintenance, Component Repair/Overhaul, Engineering, Manufacturing Services, and Material Sales. Airborne holds a Part 145 FAA Repair Station certificate for its Wilmington location that includes 315,000 sq. ft. of hangar space, 100,000 sq. ft. component facility, and 40,000 sq. ft. material sales warehouse. They also operate line maintenance stations at Greater Cincinnati/Northern Kentucky Airport and Miami International Airport. Airborne also offers Boeing 737 Cargo Conversion services through its subsidiary Pemco Conversions. It is part of the Air Transport Services Group.

<span class="mw-page-title-main">AerSale</span> Aviation Company

AerSale, Inc. is a Doral, Florida-based global supplier of aftermarket commercial jet aircraft, engines, used materials, and aeronautical engineering services to passenger and cargo airlines, government, multinational original equipment manufacturers, and independent MROs. AerSale is a member of the Aircraft Fleet Recycling Association.

<span class="mw-page-title-main">Nordica (airline)</span> Charter airline and former flag carrier of Estonia

Nordica, part of the Nordic Aviation Group AS, is an Estonian charter airline which was the flag carrier of Estonia from 2016 to 2023, a capacity purchase arrangement provider, headquartered in Tallinn, with its office premises in the vicinity of Tallinn Airport. The company used to operate scheduled flights to Sweden, but those flights ceased in October 2023, and as of October 2023, the airline focuses on operations under wet-lease contracts on behalf of other European airlines. Nordica also operates PSOs.

Transaviabaltika is a Lithuanian charter airline based at Kaunas Airport.

Enefit Green AS is a publicly traded renewable energy company located in Tallinn, Estonia. It went public on Nasdaq Tallinn in October 2021 with 23 % of shares, the rest being owned by the state-owned energy company Eesti Energia. CEO of the company is Aavo Kärmas.

<span class="mw-page-title-main">Liwathon E.O.S.</span> Company based in Estonia

AS Liwathon E.O.S. is an oil products terminal operator located in Tallinn, Estonia. It operates four oil terminals in the Tallinn area in Estonia.

AS Graanul Invest is a wood pellet producer located in Tallinn, Estonia. It is the Europe's biggest wood pellets producer. The company is majority owned by Appolo funds

JETMS is a Lithuanian aviation maintenance and repair company. JETMS is active in the MRO market for narrow-body aircraft.

<span class="mw-page-title-main">Postimees Group</span> Company based in Estonia

AS Postimees Grupp, formerly known as AS Postimees and AS Eesti Meedia, is an Estonian media holding company headquartered in Tallinn. The company is currently owned by MM Group, having acquired the half of the company from Norwegian company Schibsted in 2013 and bought the remaining half in 2015. The group is one of the largest media group in the Baltics. Among the Group's activities are creation of print and online media, production of television and radio, e-commerce.

Admirals is a Tallinn, Estonia-based trading platform for forex, contracts for difference (CFDs) and foreign exchange transactions across various financial markets. Established in 2001 by Alexander Tsikhilov, it is listed on the Nasdaq Nordic stock exchange.

References

  1. 1 2 3 Vahtla, Aili, ed. (December 2, 2019). "Nasdaq Tallinn admits Magnetic MRO bonds to trading". ERR . BNS . Retrieved 26 Feb 2020.
  2. ↑ "Magnetic MRO to sell old aircraft for parts". Russian Aviation Insider (Blog). Air Transport Observer. August 3, 2017. Retrieved 26 Feb 2020.
  3. ↑ Vahtla, Aili, ed. (March 1, 2018). "Baltcap selling Magnetic MRO to China's Hangxin for €43 million". ERR. BNS. Retrieved 21 Feb 2020.
  4. ↑ Drab, Emilie (2019-02-14). "Magnetic MRO wants to develop cabin modification activities in China". Le journal de l'aviation. Retrieved 2019-02-16.
  5. ↑ "Magnetic MRO acquires Dutch Direct Maintenance, enters wide-body market". AVIATOR. 2019-03-04. Retrieved 2023-01-09.
  6. ↑ курс, The Baltic Course-Балтийский. "Estonia: Magnetic MRO launches leasing arm". The Baltic Course | Baltic States news & analytics. Retrieved 2023-01-09.
  7. ↑ "MAC Aero Interiors gets production approval from Airbus". PAX International. 2020-06-29. Retrieved 2023-01-09.
  8. ↑ "Magnetic MRO Rebrands Business, Alters Structure". Aviation Week Network. Retrieved 2023-01-09.
  9. ↑ "Magnetic Group's Expansion, opening new office and hub in Miami, Florida January 27, 2022".


This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.