Hoping to gain a foothold in the burgeoning MRO market of Saudi Arabia, Magnetic MRO, a provider of Total Technical Care for aircraft operators and lessors, has signed a MoU with Saudi-based MRO, First Premium for Support Services (FPSS).
The two parties will collaborate on joint EASA-compliant MRO operations for both the market in Saudi Arabia and the rest of the Gulf region.
Commenting on the MoU, Risto Mäeots, the CEO of Magnetic MRO, said: “Magnetic MRO is delighted to join hands with the honourable 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.”
From FPSS’s home base in Jeddah, Magnetic MRO will work closely with the company to develop capabilities centred on Wheel & Tire, Brake, Oxygen Refill, and Battery shops.
As per the agreement, the two MRO service providers will explore the possibility of launching an engine stands hub, which will be operated by Magnetic MRO’s subsidiary EngineStands24.
Other possibilities include the launch of an EASA 147-compliant technical training school and EASA 145-compliant line and base maintenance facilities in Jeddah.
Sheikh Ghassan Omar Attar, CEO of Attar Travel, as well as CEO and owner of 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.”