Magnetic Group is launching its new representative office and hub in Miami, Florida (USA). Magnetic Trading and EngineStands24 are the first group brands to establish a presence in the region.
A significant part of Magnetic Group sales originates from the Americas. Over the past years, the company has been trading large assets within the region and Magnetic Leasing, a brand which provides asset management and leasing solutions, is born from a joint venture with a US-based investment fund. Therefore, it is a logical next step for Magnetic Group to also have a physical presence in the US.
The Miami-based team will focus on the introduction of Magnetic Trading services in the local market, including spare parts and component solutions, a total asset management programme and repair management, while providing local airlines with scheduled and AOG spare parts supply.
Additionally, airlines and asset owners will be able to lease engine stands from the Miami hub using the recently launched EngineStands24 platform – engine stands for CFM56-7B, CFM56-5A/B and V2500 engines – will be available for lease from the US with the company planning to expand the portfolio throughout the year.
