Magnetic Group

  Reflecting on 2024, the year signified pivotal turning-point milestones and challenges for the aviation industry, marked by record-breaking growth in passenger capacity, heightened safety concerns, impactful political decisions, supply chain disruptions, and evolving sustainability efforts.   From the company's perspective, Magnetic achieved an 18% increase in sales targets Group-wide. Two sectors led the way:  Magnetic Maintenance   and Magnetic Assets, which showed growth in each business unit's bottom line.    Financial Results In 2024, the Group reached Euro 172,256 thousand in revenue, Euro 15,003 thousand in EBITDA, and Euro 5,864 thousand in net profit. Revenue is divided between segments: 43% is generated by the Maintenance sector, 55% by Assets, and 1% by Talents.    EBITDA increased by 57.5% compared to the previous year, driven by a recovery in aviation market demand, a focus on strategic projects, and improved operational efficiencie...

  At  magnetic leasing  MRO, we have been delivering high-quality, compliant, and industry-recognized On-the-Job Training (OJT) for aircraft maintenance engineers since 2016. Our OJT program has been consistently approved by the competent supervisory authority - Estonian Transport Administration - and recognized by multiple aviation authorities from around the world, including the Dutch Human Environment and Transport Inspectorate (ILT)/KIWA, for the issuance of Aircraft Maintenance Licenses (AML) and type ratings. In response to recent legislative updates concerning OJT, ILT conducted a review of Magnetic MRO's OJT program in the summer of 2024. Following the review, the ILT has identified discrepancies, the majority of which Magnetic MRO strongly disagrees with regarding both substance and severity. While this has a significant impact on Magnetic MRO, it is the engineers who are currently facing the direct consequences of ILT's current actions and lack of actions in the...