newstodate.aero

Sep 09, 2020 (newstodate): The Estonian aviation group Magnetic MRO's new subsidiary Magnetic Leasing has completed an aircraft placement with a new US customer.  
   The coming new US airline GlobalX has thus signed a LoI for its first A321-200 aircraft under an operating lease with Magnetic Leasing.
    The aircraft is expected to be delivered to GlobalX in December 2020 after signing of definitive lease documents and painting the aircraft in GlobalX colors at IAC in Lake City, Florida.
   The aircraft was specifically selected by GlobalX to initiate its services to Cuba, subject to governmental approvals, and planned as the first aircraft of 10-15 to be eventually converted to freighter configuration.  
   GlobalX is currently negotiating the acquisition of additional A321 aircraft for conversion to freighters as part of its overall strategic plan to become a narrow-body A321 freighter operator.
   Set up early in 2020, By the end of 2020, Magnetic Leasing expects to have a portfolio worth USD 100 million under its management, and within five years, the company expects to manage at least 30 narrow-body aircraft and 20 engines.
   Already from the start, Magnetic Leasing manages an asset portfolio which includes Airbus A320 Family, Boeing 737 NG and Boeing 737 CL aircraft, as well as CFM56-3, CFM56-5B, CFM56-7B, V2500-A5, RB211-535 engines and multiple Airbus A320 Family and Boeing 737 NG/CL aircraft landing gear sets.