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"Two years ago, Magnetic MRO added the escape slide workshop to its wide range of repair services, and has been continuing to expand into new capabilities and service offerings in order to meet the requirements of customers. As a result of a high quality service provided throughout the escape slide workshop unit, Magnetic MRO continues to grow its customer base," said the company said in a press release.

Based on the needs of Air Astana's fleet as well as other existing airline customers, Magnetic MRO has developed its capabilities to cover both Goodrich and Air Cruisers escape slides for Boeing B767, B757, B737 CL, B717-200, Airbus A320 Family, accompanied by raft capability.

Situated on the territory of the Tallinn airport, Magnetic MRO has been engaged in aircraft repair and maintenance since establishment in 2002. The company doubled revenue from 18 mln to 36 mln euros last year.

The company belonged to SAS until 2010 when it was acquired by Baltcap Private Equity Fund. In 2014 two Cypriot companies, Sasmex Investments Ltd and Tiaravia Services Ltd, acquired one-third of the shares in the company. At present Baltcap owns 70% and four minority shareholders 30% of the company.