Magnetic MRO targets Saudi MRO market, signs MoU with FPSS

New Post Public Reply Private Reply Replies (0) Message Board
News Desk 2022
46
Magnetic MRO targets Saudi MRO market, signs MoU with FPSS

Tallinn, Estonia, 2019-02-11 10:40 CET (GLOBE NEWSWIRE) --  

Magnetic MRO, a global provider of Total Technical Care for aircraft operators and lessors, and a Saudi MRO company First Premium for Support Services (FPSS) have signed a Memorandum of Understanding (MoU) for joint EASA-compliant MRO operations in Saudi Arabia and the Region.  

The two companies agreed to jointly establish and develop Wheel & Tire, Brake, Oxygen Refill, and Battery shops in Jeddah. At later stages of the cooperation, Magnetic MRO and FPSS also consider launching an engine stands hub, operated by Magnetic MRO’s subsidiary EngineStands24, as well as an EASA 147-compliant technical training school and EASA 145-compliant line and base maintenance facilities in a Saudi Arabian port city of Jeddah.

Risto Mäeots, the CEO of Magnetic MRO, said: “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.”

Mäeots also added that the new partnership comes in line with Magnetic MRO’s vision to support the development of the regional aviation industry by providing Saudi airlines with access to the company’s high-quality services and innovative solutions.

Sheikh Ghassan Omar Attar, the CEO of a leading Saudi travel company Attar Travel, as well as the CEO and owner of the Jeddah-based First Premium for Support Services, shared:  ”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.”

Magnetic MRO in brief:  Magnetic MRO is a global provider of EASA and FAA-certified Total Technical Care and Asset Management solutions. Headquartered in Tallinn, Estonia, the company maintains a strong presence in Europe, the CIS, Africa and North America. With two decades of experience in the MRO market, Magnetic MRO has an established reputation of a technologically advanced, innovative provider of integrated MRO services. The company specializes in a wide range of MRO areas: from engine management to line and base maintenance, from components to landing gear solutions, from engineering services and asset management to interior solutions and full aircraft painting.

For more information: TIINA SHEIN Head of Marketing  and Communication +372 507 6353 tiina.shein@magneticmro.com

Nasdaq Baltic Issuer Services +372 640 8800 www.nasdaqbaltic.com

Nasdaq Baltic is a common name for exchanges, regulated markets, alternative markets First North operated by Nasdaq companies in the Baltic states, i.e. Nasdaq Tallinn AS, Nasdaq Riga AS and AB  Nasdaq  Vilnius.

Scroll down for more posts ▼

Top 10 Most Recent News Articles

Modeling and Mental Health Join Forces for Wellness

Updated Category News Views 3

A Fresh Alliance for Mental Wellness in Modeling Alright, let's shine a spotlight on a significant step in the modeling industry, a place typically less vocal about mental health. In a move that feels long overdue, Brain-Body Therapy and Mother Model Management have joined forces, marking the beginning of a collaborative effort to propel mental wellness to the forefront...

Continue Reading
Jari Spirits Set to Shake Up U.S. Market After Big Wins

Updated Category News Views 4

Korean Spirits Jari Eyes U.S. Market Entry Some stories just have that perfect 'right time, right place' vibe, and CJ Foods' recent splash with their Korean spirits brand jari is one of them. Buckle up, because this one's about a Korean distilling sensation gearing up to hit American shores with a bang. Accolades Pave the Path Jari, the premium Korean distilled spirits...

Continue Reading
Streamlined AI Video Analytics for Public Safety Unveiled

Updated Category News Views 3

AI Without the Headache Alright folks, IREX is shaking things up, and not in the usual iterative, bit-by-bit tech progression way. StreamVLM™ has been rolled out as the world's first vision-language model (VLM) analytics engine tailored for the public safety sector—specifically, for cloud platforms. I’ve been around the block enough times to spot a significant shift...

Continue Reading
Lick the Plate Hits 2,000 Shows with Clown Band

Updated Category News Views 5

They say good things come in bizarre packages, and that's exactly the case as David Boylan's Lick the Plate zany celebration marks 15 years on air with its 2,000th episode. If you think of radio as a predictable endeavor, well, you're not tuned into Lick the Plate. A Milepost Draped in Multicolored Fabrics When you're browsing through colorful avenues of radio fame, it's...

Continue Reading
QuickFi Nabs Top Finovate Award for Fourth Time

Updated Category News Views 5

An Unstoppable Force in Fintech Well, if QuickFi hasn't made a name for itself in fintech, then folks, I don't know what to tell you. This year, they’ve snagged yet another prestigious Finovate Award—this time for Best SMB/SME Banking Solution. That's not their first rodeo either; it’s the fourth time they’ve walked away winners. It's almost like they're...

Continue Reading
Oil Markets Shift Focus: Pipelines Trump Drilling

Updated Category News Views 6

Decoupling Oil Price and Production Response This oil market isn’t your usual rodeo. With Brent flirting with $100, it’s a seismic shift that’s not yielding new drills but redirecting capital to the existing infrastructure landscape. Ask yourself why we're not seeing the usual cavalry charge of new rigs. It’s simple: Pipeline mileage and producing wells have...

Continue Reading
Supply Maverick Simplifies Global Shipping Processes

Updated Category News Views 4

Paving the Way for Seamless International Shipping Supply Maverick's got a new mantra, folks: simplicity. They're slicing through the mess of international shipping and bringing some much-needed clarity for customers in Canada, Australia, and New Zealand. It’s about time someone shook up the logistics playbook. The Nuts and Bolts of the New Shipping System Imagine being...

Continue Reading
DCM Services Teams with AKUVO to Boost Estate Recoveries

Updated Category News Views 13

Revolutionizing Estate Recovery Practices Here's the scoop: DCM Services (DCMS), that big shot in estate account resolution, is hooking up with AKUVO to shake up how credit unions handle estate recoveries. This alliance is a clear nod to modernizing a process stuck in the past. Let’s face it, handling decedent and probate accounts is no cakewalk, and traditional methods...

Continue Reading
Melissa Rivers Brings Her Wit Back to Emmys Carpet

Updated Category News Views 11

They say you can never go home again, but don't tell that to Melissa Rivers. Rolling the dice on nostalgia and kicking off a new chapter, she's waltzing back to the Emmys red carpet for the first time in nearly 20 years. Alright, what's in it for investors? Not much—unless you're looking to invest in nostalgia. But there's something here about legacy, reinvention, and...

Continue Reading
NYSE Reflects on 9/11: Honoring Lives and Legacy

Updated Category News Views 5

A Somber Day at NYSE: Reflecting on 9/11 September 11th grips the heart of NYSE every year, but this year's 25th-anniversary powerfully reverberates through its hallowed halls. The hustle of the trading floor halts for a moment at 9:20 AM ET, paying homage to those lost in the harrowing attacks. I've seen the markets flap in the wind of countless crises, but nothing's...

Continue Reading

Top 5 Most Recently Viewed Articles

West Tennessee Bank Expands with New Germantown Branch

Updated Category News Views 10

Building for the Future in Germantown If you ever needed proof that some banks are bucking trends and betting on brick-and-mortar branches, look no further than West Tennessee Bank. On July 7th, a new chapter began as they broke ground on a permanent home in Germantown, marking a solidification of their presence in Shelby County. Not every day you see a bank looking...

Continue Reading
BlackSky Technology Expands Imagery Services Under NRO Contract

Updated Category News Views 114

BlackSky Secures Contract Extension for Enhanced Services BlackSky Technology Inc. (NYSE: BKSY) is pleased to announce that it has successfully obtained a one-year extension for its Electro-Optical Commercial Layer (EOCL) contract with the National Reconnaissance Office (NRO). This contract is pivotal in enabling the company to continue delivering subscription-based...

Continue Reading
Battery Materials Market Growth and Key Industry Drivers

Updated Category News Views 82

Battery Materials Market Growth Prospects The battery materials market is experiencing a significant transformation as we move toward a new era of energy solutions. Fueled by the surge in electric vehicle (EV) sales and the rising need for renewable energy storage, this sector is anticipated to reach a robust valuation in the coming years. According to recent market...

Continue Reading
Investigation into DXL Group: Are Shareholders Protected?

Updated Category News Views 75

Investigating the Fair Market Value for DXL Shareholders The Ademi Firm is diving deep into the recent dealings of Destination XL Group Inc. (NASDAQ: DXLG) to ensure that all public shareholders are receiving equitable treatment. Questions have arisen regarding whether the shareholders of this firm are being granted a fair deal in light of their upcoming merger with...

Continue Reading
Sercomm Debuts Revolutionary Wi-Fi 8 Platform at Major Networking Event

Updated Category News Views 401

Introduction to Wi-Fi 8 At the forefront of tomorrow's wireless technology, Sercomm, a prominent provider of telecom and broadband equipment, is set to showcase its groundbreaking Wi-Fi 8 platform at the highly anticipated Network X event. This innovative technology is powered by Broadcom's state-of-the-art Wi-Fi 8 chipset and designed to significantly enhance wireless...

Continue Reading