Magnetic Trading Achieves ASA-100 Certificate

 

After Magnetic Group launched its new office in Miami, Florida, last month, Magnetic Trading followed by receiving an ASA-100 certificate from the Aviation Suppliers Association. By obtaining the accreditation, Magnetic Trading ensures that its aircraft spare part distribution services adhere to relevant aviation industry regulations and standards based on the region in which they operate.

“After meeting the ASA-100 standard across our other branches, such as the sales office located in Lithuania and the stock in Estonia, it was time to strengthen our presence in the USA further and open a warehouse with its dedicated stock. All in an effort to continue meeting the needed high-quality standards, provide full-scope services, and serve our local clients even more efficiently,” shared Airina Kacienaite-Krake, Head of Magnetic Trading.

Christian Mejia, Sales Director at Magnetic Trading, emphasized: “This marks a significant achievement for Magnetic Trading in the USA. Our ability to swiftly establish these procedures and processes to guarantee quality and reliability showcases our dedication to our customers. Integrating our USA entity into ASA will support our regional growth and expansion. “

Magnetic Trading, a sub-brand of Magnetic Group, has been operating in the US since 2022 and offers comprehensive component and spare parts provider solutions. Becoming an ASA 100 member includes an accredited stock facility and quality assurance of standards, policies, processes, and audits. This ensures that all materials purchased and deployed into the aviation market meet the highest quality standards in all phases: purchasing, receiving, stocking, sales, and shipping.

Magnetic Leasing Acquires a CFM56-7B from New Trading Partner 3TOP Aviation Services

Recently, Magnetic Leasing, a sub-brand of Magnetic Group, closed a CFM56-7B engine deal. The deal includes rebuilding the engine at the Magnetic Engine's shop facilities in Tallinn, Estonia, before further commercial activities.

Filip Stanisic, Head of Magnetic Engines, stated: “Quick turn shop visits have become increasingly in demand for CFM56 engines, and utilizing our own shop capability allows us to simultaneously optimize and minimize the costs of repair as well as TAT, which are vital for asset owners.”

As for leasing, maximizing the synergies available on a group level is at the forefront of the business strategy. This means applying years of technical engine material knowledge and merging it with asset management expertise, allowing the team to enhance further the development of module swaps and engine product lines.

Chris Emechete, CEO at 3TOP, said: “We are delighted to now have Magnetic Leasing as a trusted partner. Having previously worked with the Magnetic Engine shop, I believe this transaction represents a further solidification of our strategic relationship with the Magnetic Group.”

“Having a trusting partner like 3TOP Aviation Services always makes the transaction process smooth and efficient; many thanks to Chris, Paul, and their whole team, and we look forward to transacting together more in the future,” added Alex Vella, CEO at Magnetic Leasing.

What does aircraft engine maintenance and repair involve?

An aircraft engine is one of the parts of an aircraft that needs to be checked very often in order to ensure that an aircraft is ready to be in operation. An aircraft engine aircraft engine maintenance and repair is considered as a step by step process that allows the health check up on the engine. Aircraft engine maintenance involves different processes that include washing and drying engine parts, both interior and exterior care for designs, taking apart the engine, overhaul and renewal of any parts of engine that needs attention.

 

 

In addition engine maintenance offers testing of a fixed engine. Aircraft engine maintenance and repair could be considered services needed for the core part of an aircraft. There are several tools that aid professionals in maintenance and repair of an aircraft. In the course of cleaning and overhauls tools similar to custom aerospace baskets are used in the process.

 

There are multiple tools used during the process for example borescopes and cameras in the equipment for internal examinations. For this reason, maintaining engines in their best shape is of the utmost priority.

 

Like with most maintenance work, engines also have a range of services, from the engine trouble shooting to repair of individual assembly units and other work. Each step of the MRO process needs high quality products in order to keep up the quality of an engine.

 

A jet engine comprises of two parts:

 

• Cold section

 

• Hot section

 

Jet engines are most frequently used in the long commercial aviation world. The jet engines run by compressing burning air, they are powerful and offer more speed than other types of engines. As mentioned above jet engines comprises two sections; the cold section contains five parts; these include the intake, ducts, compressor, diffuser and drive shaft.

 

And the hot section has a combustion chamber, turbine, nozzle and exhaust. ItÕs no secret that engines are the most expensive aircraft items; the same goes for their parts.

 

Aircraft engines play a crucial role in upkeep of the aircraft, it is important to note that with advances in technology it has become an important aspect in driving global connections between countries.

 

At Magnetic Group, have an incredibly dedicated team of professionals and experts who will be able to provide anyone with all the needed assistance in order for jet engines to be appropriately looked after and take the right course of action regarding aircraft landing gears.

How important are engine materials in the aviation industry?

The aircraft industry is very complex and challenging, it needs a more advanced type of care for the assets. The challenging nature of the industry can be seen in quality reviews as well as in terms of brand-new developments. It is very important for the manufacturers to be able to match the developments of an industry. The aircraft engine components supply are a very important part of the aviation industry. The reason for this is that the engine material is thought to be considered an incredibly crucial part of the process regarding the composition of an aircraft engine.

 

It is important to be very aware that aircraft engines are required to meet extremely important and demanding requirements. These requirements play an important role in making sure that the aircraft is fully developed. The process of recent developments has shown that civil aircraft engines are oriented to achieve certain goals. Objectives that they are incredibly focused on are weight reduction and higher efficiency.

 

There are a good amount of similar improvements regarding the engine that would have a significant impact on the future. The improvements are particularly mentioned because of the development of structural engine materials that are necessary such as heat-resistant alloys, and a perspective to create further advancements regarding the aspects of design and manufacturing.

 

Certain aspects are a requirement for a completely developed aircraft engine. In general, a well-developed aircraft engine consists of the following parts:

 

• An air intake
• A compressor or a fan
• A combustor or combustion chamber
• A turbine
• An exhaust nozzle

 

In the aircraft industry, there are multiple metals that the engine material consists of including iron, lead, and tin, these metals are all combined to bring out various and different properties of an maintenance repair and overhaul. In the industry, there are quite a few different and interesting trends regarding the engines.

 

One of the trends tends to be a statement to have lightweight materials as a priority, and there has been a decrease in the ratio of steel used. Nevertheless, the principal aspect of aircraft production depends on the base of iron base alloys, for example, structural steels, stainless steels, iron base sintered metals, and there are different parts for pistons, cylinder heads, and a cylinder block which include cast iron and aluminum alloy parts.

 

Magnetic Trading entirely focuses on distilling and procuring materials to meet the airline and engine demands of MRO, and it especially is focused on CFM56 family and V2500-A5 engines, as well as their components.

What is aircraft asset management?

Aircraft asset management aims to comprehend the real value of an asset that includes aircraft and engines. wheels and brakes maintenance is a systematic way of managing the parts, services, and resources related to one or a portfolio of aircraft over their usable life cycle. The process starts with acquisition and extends to the last disposition. It is often structured into a program that clearly identifies the needs and is based on certain aircraft asset owner requirements. This action is vital particularly when it comes to sustainability view.

 

 

There is a term commercial aircraft asset management that means when an aircraft is used by many people many times and you have to manage it by order of investors. In short, you have to manage the aircraft so the investment made can be returned to the investors and the commercial aircraft could experience minimal losses.

 In aircraft asset management you mainly report about events such as payments, the status of aircraft performance, how many hours has an aircraft operated and how many cycles was performed by an aircraft. Understanding how the aircraft is performing and its state is crucial for the correct asset management.

Aircraft asset management consists of:

• Evaluation
• Acquisition
• Financing
• Through-life management

 

Every operator has specific requirements, so a program needs to be customised to fit the owner of the aircraft. Aircrafts are extremely interesting and complex assets. Managing a commercial aircraft requires a lot of resources throughout its lifetime, so it is airworthy and well-kept.

 The purpose of spare parts provider asset management programs is to increase aircraft permanence and optimise costs to the owner, among others. Magnetic Trading offers a specially-made Total Asset Management Program, ensuring a smooth maintenance process and full-scope operations, from advanced asset evaluation to serviceable unit instalment. It offers services from the acquisition of an asset to the disposition of it.

 

The asset management services for magnetic trading are one of the lead services. Services of magnetic trading involve removal and installation, BSI and visual inspections, repairs and overhauls, lease and spare units availability, outright sales and exchanges, technical data and historical records evaluation, available spare parts fixing, logistics and transportation services, customised asset-based finance solutions as well as many other services that contribute to the betterment of an aircraft.

Even when an aircraft is maintained for a very long time and the parts are refurbished and replaced it is still an asset that holds a major value, this can be obtained with the correct care and maintenance of an aircraft.

What do maintenance, repair, and overhaul mean in aviation?

The aviation industry is extremely complex and challenging, many times there could appear multiple issues regarding an aircraft, if these issues appear the aircraft must be inspected immediately.

 

There are multiple aspects in the aviation industry that need to be taken care of. Over time an asset starts to need services that make its life cycle longer these services include maintenance, repair and overhaul. It is important to note that these services need to be done extremely well by professionals. The aircraft engine maintenance and repair, and overhaul mean understanding and evaluating the requirements of an asset in order for it to function properly while in operation. It is important for maintenance, repair, and overhaul to be done in a quality manner and according to international standards.

 

 

Maintenance, repair, and overhaul are an important part of the aviation industry. The differences between maintenance, repair, and overhaul are very significant. When referring to aircraft, maintenance, repair, and overhaul are incredibly important and integral parts of maintaining an aircraft's healthy and overall condition. The terms are very different from each other because of many reasons. Maintenance is aiming to keep an  aircraft in a healthy operational state through continued routine and ongoing standard inspections, as well as includes taking care of less significant components that need to be replaced. Repair is eager to target important and specific issues that occur unexpectedly, whereas, for example, overhauls tend to encompass rebuilding the important components or certain systems in order to prolong their operation and utilization of resources.

 

In the aviation industry, the three terms mentioned above maintenance, repair, and overhaul are often used in a three-letter acronym: MRO. All three types refer to specific-purpose inspection or service processes related to an aircraft:

 

 

• Maintenance
• Repair 
• Overhaul

 

An MRO is also considered a strong aircraft spare part maintenance facility,  very competent to complete and interpret different types of aircraft maintenance and inspections. As aviation is a highly regulated and a avery complex industry, the same applies to aircraft maintenance, as only a certified entity is fully able to operate as an MRO, and only a certified entity is able to perform maintenance, repair, and overhaul of an aircraft. Magnetic MRO serves as a prime example, as the Estonian-based company offers lots of different angles of aircraft based maintenance, painting, structural repair, and an amplitude of other services.

Hands-on Experience for Future Aviation Professionals: Magnetic Trading Gifts Components to Vilnius Gediminas Technical University Students

The importance of cultural understanding for Spare parts trading and team expansion in the Asia Pacific

 

The Asia Pacific is the fastest growing market in aviation – both aircraft fleet and MRO-wise. And business development in this region is a challenge as well as an opportunity – and according to Eigirdas Keblikas, Head of Spare Parts and Assets Asia at Magnetic MRO, the cultural understanding is one of the key factors that determine your success. In 2019, Magnetic MRO announced they are opening the office in Kuala Lumpur. What were the main influencers for this decision? Eigirdas Keblikas:

 

For the past years, there was noticeable growth of the economy in Asia-Pacific – not only in aviation but in most of the industries. Of course, the aviation industry's growth was the key factor we evaluated when considering the expansion to the region. In fact, the aviation industry in the region grew fastest in the whole world, and in the next few years, it is estimated that the region will have the highest number of aircraft spare part. This reason was the primary influencer for Magnetic MRO to open the office in Malaysia. Also, the cultural and business differences played an important role as well. In the region, face to face communication, meetings are an important part of daily business life, therefore being present and able to meet with key players opens the door for us to the market. Before the Kuala Lumpur office launch, we had a very few deals within the region; therefore, it was unexplored land of opportunities – and we were ready to seize them! 

 

How long was the process of the business unit establishment in Malaysia? What were the main challenges with regards to team formation and expansion? EK: 

 

Although the idea to establish an office in Malaysia was born a while ago, the actual process took around a year or so. We started from scratch, so it was a significant investment – first of all, from a human resources perspective. I myself relocated to Malaysia late August and took care of the formation of the team there. Biurocracy is a considerable challenge in the region, but I would probably outline the workforce issues more as it is hard to find experienced people to join the team – however, this is a common issue not only in Asia Pacific region but globally.

 

 

Can you share the key results of the first few months since the office was opened? What were the main contacts and the main deals? EK:

 

 In the first few months, we have established contacts with clients from Malaysia as well as Vietnam, Indonesia, Thailand to name a few, and one of the most significant projects we had so far was a landing gear deal for Indonesia's Presidential aircraft. We are in the process of working with various airlines – but still, there's a lot of space for expansion for us. It is important to note that although the industry is big and ever-growing, the competition is also fierce and nobody waits for you with open arms. So a consistent work of the highest quality, as well as communication, is the key that slowly opens the doors.

 

What are the plans and predictions within the region in 2020? EK:

 

For us, the main plan is the expansion of the team. Also, we are considering the option to have our local stock in Asia which would allow us to offer AOG components pool and allow us to service clients even better than now. As for the region, the growth is inevitable. And it considers not only the number of aircraft but a number of MRO's as a result. More aircraft landing gears are being serviced in Malaysia; therefore the growth will still be big – and this will also drive new investments which will continue re-shaping the industry in the region.

 

What were the main challenges your team has faced at the start of the operations in the region? How you and your team have tackled these challenges? EK:

 

I think as, in any case of relocation, one's faced with cultural challenges both in professional and personal life. Business and relationships are formed in a different way than in Europe, and communication here is less formal, more personal and very direct. However, open-minded attitude is probably the main factor that helped our team and me to integrate quickly.

 

What are the most important differences between spare parts trading operations in Europe and the Asia Pacific? EK:

 

Taking cultural differences aside, when compared to Europe, Asia is very cash orientated. They have different net terms, and it is more cash intensive market, which differentiates it from Europe. We expected more differences in competition; however, most of the companies working in Europe have already established themselves in the region. 

 

Doing business in Asia differs from other regions, and you mentioned the importance of cultural understanding. Can you elaborate, what are the key differences, and how does it differentiate the fluidity of work processes between regions? What are the fundamental differences and how does it influence your work? EK:

 

As mentioned before, business relationships are more commonly formed in meetings, meaning it extends the process and requires a lot of personal engagement. But we take this as a part of culture, fundamental base of the business and adapt our work to these regional specifics.

 

Establishing a new office in a new region can be challenging not only for the business but for the people working within the company. How did you find the relocation process? EK:

 

Although I am well-travelled, it wasn't easy at the beginning. From food to time zones, all was different. It is always busy here – not something we are used to living in a city in Northern Europe. But this is also a natural part of the relocation – it would have been crazy to expect it to be all easy and simple. And I am glad it was not – not only it shaped my attitude and allowed me to grow personally, but also was a welcome challenge!

 

Article source:-https://www.magneticgroup.co/importance-cultural-understanding-spare-parts-trading-team-expansion-asia-pacific/

Anniversary Interview: Airina Kacienaite-Krake

 

At a four-year anniversary mark with Magnetic Group, Airina Kacientaite-Krake, the Head of Magnetic Trading, shares her story. From Airina’s career beginnings to her take on leadership, we also get a glimpse into life at Magnetic and what it’s like to lead a cross-country team.

What is your background education and career-wise leading up to Magnetic Group?

Starting with education, I have a BA degree in accounting and an MA in International Business Economics. Right after, I spent over a decade working in the banking sector in sales aircraft engine components supply, then as the Head of Sales of car and operational leasing. After that, I received an invitation to work at an aviation company, and from then onwards, I never looked back. From the industry's appeal to the global scope and my team, all these aspects perfectly make up the foundation for why I love what I do, including being part of the Magnetic Group. 

Could you share some of your proudest achievements while you’ve been with the Trading department for the past four years? 

One thing I strive for is implementing structures. With that, naturally comes building up Magnetic Trading to what it is today and doing all of it together with the team. This meant implementing processes and workflows, launching offices across the globe, and unifying them, all leading to a structured and well-optimized department. Another achievement is team-wise, having a low employee turnover and a core that hasn't changed for years. All in all, I could sum it up, resulting in increased sales and global expansion.

As a manager, do you have a team and leadership philosophy that you follow? 

I delved into this topic more thoroughly in my earlier article on leadership. An example of my leadership philosophy is the “servant leadership” approach. This philosophy emphasizes a leader's commitment to serving the needs of their team members and empowering them to succeed.

With that said, the leadership style varies depending on the company and what stage your department is at. For example, we had a transformational focus for some time to synchronize everything and everyone into smooth processes. Once the foundation is laid, the focus shifts more towards individual growth, all based on their independent paths and responsibilities, which is the case for us now.

Where is the Magnetic Trading brand headed in 2024? 

The keyword for 2024 is expansion across the board. We are kicking off the year with the newly opened office in Miami and its dedicated warehouse, so we'll continue scaling our efforts and strengthening our presence there, including people, stock, and brand awareness. The same goes for cultivating the Asia-Pacific region, increasing our business activities and sales engine material, building a separate stock, and growing the local team.

To wrap it up, how would you describe working at Magnetic in five words?

Some words are inherited from the industry's nature, but there's a balancing act between all five words: challenging yet rewarding, providing freedom with which simultaneously comes ownership. Also, it is tight-knit, especially regarding our culture. We always have our minds set on the target, but meanwhile, we also make sure to enjoy the ride and celebrate progress and those smaller wins.