2 September 2020: Magnetic Leasing, the lessor arm of Magnetic MRO will provide first leased aircraft to Global Crossing Airlines (GlobalX). The leased aircraft is an Airbus A321. The aircraft is about 15 years old and was previous operated by major government owned Asian airline until it was acquired by the Magnetic Leasing in the beginning of 2020. Prior to delivery the aircraft will undergo a C-Check which is scheduled to be performed by Magnetic MRO at the company’s hangars in Tallinn, Estonia. In addition, the aircraft will be painted in GlobalX livery, also at Magnetic MRO. The aircraft is expected to be delivered in December 2020.
“We are delighted to have signed with GlobalX. They have an impressive management team which has developed a business plan to challenge the status quo and create excitement at a time when the industry is depressed. We are honoured to provide the first leased aircraft to GlobalX to help launch their International operations and look forward to developing and expanding our partnership for many years to come”, said Alex Vella, Chief Operations Officer at Magnetic Leasing.
“We are grateful to Magnetic Leasing for their support of our vision and business plan. This A321 complements our plans for our initial charter operations. Magnetic is a dynamic and entrepreneurial company very much like GlobalX intends to be, and we look forward to working with them on this delivery and additional aircraft”, said Ed Wegel, Chairman and Founder of GlobalX.
This aircraft was specifically selected by GlobalX to initiate its services to Cuba, subject to governmental approvals. In addition, GlobalX continues the development of its A320 fleet plan and expects to announce the closing of additional aircraft under purchase contracts in the next 15 days.
Currently, Magnetic Leasing manages an asset portfolio which includes Airbus A320 FAM and Boeing 737 NG aircraft, as well as CFM56-5B, CFM56-7B, V2500-A5 engines and multiple Airbus A320 FAM and Boeing 737 NG/CL landing gear sets.
