February 5 2020  |  Partnerships, Collaborations & Acquisitions

Magnetic MRO acquires four airBaltic 737s

By Jane Hobson

Risto Mäeots, Magnetic MRO Chief Executive Officer, sits atop the wing of a recently-acquired airBaltic 737. Magnetic MRO performs maintenance checks and customization before the aircraft joins new operators

Total technical care and asset management organization Magnetic MRO has announced today that is has acquired four 737 Classic aircraft from airBaltic through a public tender. Following the delivery from Latvia’s flag carrier, all aircraft will continue their service in the fleets of new owners.

As launch operator of A220, airBaltic operates a fleet of 36 aircraft, including 21 A220s, 12 Bombardier Dash 8 Q400 NextGens and four 737s, as of December 2019. The decision to sell the 737 aircraft was a pre-planned move by airBaltic in order to focus on its new A220 fleet which delivers higher fuel efficiency and reduces the carbon footprint.

“In June 2019, we were awarded to acquire four Boeing 737s. Some of these aircraft have a long maintenance history at our MRO base in Tallinn. It’s delighting to witness the expansion of our cooperation beyond conventional MRO business – not only do we keep aircraft airworthy, but also commit to take the ownership of the very same assets and help airlines to manage their exit risks,” said Risto Mäeots, Magnetic MRO Chief Executive Officer (CEO).

He added: “Thus, we are grateful to our Latvian partners for entrusting these aircraft in our hands. After maintenance checks and customization works had been completed, the aircraft have been placed into the hands of new operators.”

Martin Gauss, CEO of airBaltic said, “Boeing 737 Classics were a notable part of the airBaltic fleet for more than 10 years. They served as our breakthrough, helping to establish ourselves as a strong regional carrier. Now we are modernizing our fleet and relying on A220s as our future aircraft that will enable us to improve efficiency and better connect Baltics to the world.”

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