Magnetic MRO has launched a new brand: Magnetic Engines.
The new workshop facility is located in Tallinn, Estonia. A spectacular virtual launch event took place yesterday (26 January) and was broadcast online across multiple platforms [see video below].
Magnetic MRO has offered engine repair and overhaul services for many years, but decided to launch a dedicated brand as a “natural next step” following expansion in 2020, the acquisition of more tooling, and an increase in capabilities.
The new brand has CAAC certification as well as EASA and FAA approval for modular maintenance of CFM56-3, CFM56-5B and CFM56-7B engines. Magnetic Engines has capabilities on fan modules, LPT major modules and core hot section modules (including replacement of combustion chambers), which were all acquired in 2020.
“Demand to accommodate more engines for repair was rising ever since we started working on engines and it coincided with our short-term plans to relocate the shop to a new location. A perfect solution was found within the Tallinn Airport site,” said Magnetic Engines’ business manager Zoran Bozic.
“With more than 300sq m and dedicated office space, our new facility is just what we need. In our new premises, we are able to accommodate up to 10 engines at a time (for work and storage). A separate space is available for our tooling & equipment as well as for modules piece parts inspection, which is a newly added service.”
Magnetic Engines’ executive sales director Alexey Ivanov commented: “We are able to meet customers’ expectations by offering more slots, more flexibility with inductions and freshly refurbished storage area for their valuable assets.
“In the current situation, with an unprecedented fall of passenger traffic around the world which affects all airlines and leasing companies, we strongly believe that demand for light and hospital repairs will grow even higher. Airlines and asset owners will try to optimise cash flow and perform lighter repairs or modular replacements, where possible postponing overhauls for the future.”
At the virtual launch event, Magnetic MRO CEO Risto Mäeots said of the project: “Magnetic has gained a positive track record on asset management – everything from buying, selling, exchange, teardown and building custom assets.
“This valuable know-how, combined with capital, makes us the right choice for leasing companies and asset owners, who are facing ageing portfolios and painful impairments. They deserve a technical partner who is open to co-invest where needed in order to micro-manage their assets and maximise the yields.”