Magnetic MRO buys four planes, ten engines
Magnetic MRO, Tallinn-based aircraft repair and maintenance company, has bought four Boeing 737-800 aircraft and ten CFM International CFM56-7B engines.
The assets were bought by Magnetic Parts Trading Limited, a recently founded holding enterprise of Magnetic MRO and Crestline Investors, CEO of Magnetic MRO Risto Mäeots told BNS.
Crestline Investors supported the transaction with capital, while Magnetic MRO will act as asset manager. It is the first investment project of the joint company that was founded in July this year.
The revenue of Magnetic MRO totaled €50.5 million last year. The company's net profit was €2.5 million. The company maintains and repairs aircraft for airliners and other asset owners and is based in Tallinn.
Editor: Dario Cavegn
Source: BNS, ERR
