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"We are very excited and proud for having the privilege to work with the historical CS300 aircraft and already widely endorsed Q400 aircraft," Risto Maeots, the recently appointed CEO of Magnetic MRO, said. "Airbaltic has always been a loyal partner with very high expectations, therefore we are solely honored to be in charge of such meticulous care of their best fleet members," he added.

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 in 2015. 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.