February 11 2019  |  Partnerships, Collaborations & Acquisitions

Magnetic MRO signs MoU with FPSS

By PAX International

Sheikh Ghassan Omar Attar (left) and Risto Mäeots signing the MoU at MRO Middle East this morning

Dubai, UAE: Earlier today at this year's MRO Middle East, Magnetic MRO and First Premium for Support Services (FPSS), a Saudi MRO company, signed a Memorandum of Understanding (MoU) for joint EASA-compliant MRO operations in Saudi Arabia and the surrounding region.

The development of wheel and tire, brake, oxygen refill, and battery shops in Jeddah are covered under the agreement, though an engine stands hub operated by EngineStands24, a Magnetic MRO subsidiary, may be considered later on. Other potential expansions of the deal could include an EASA 147-compliant technical training school and EASA 145-compliant line and base maintenance facilities in Jeddah.

Risto Mäeots, CEO of Magnetic MRO, said in today's statement: “Magnetic MRO is delighted to join hands with the honorable Sheikh Ghassan Attar, the owner and CEO of First Premium for Support Services, to develop a wide range of high-quality level aircraft maintenance services in Saudi Arabia and across the region.” The deal, he added, will also help support the region's aviation industry, part of Magnetic MRO's vision.

Sheikh Ghassan Omar Attar, CEO of Jeddah-based First Premium for Support Services, also noted: ”We strongly believe the new agreement between Magnetic MRO and FPSS will provide us with a substantial boost in supporting the needs of our aviation clients and bring us to the leading position on the aircraft maintenance market of the Kingdom of Saudi Arabia.”

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