Chapman Freeborn Airchartering today announced it has increased its stake in UK-based Magma Aviation to a majority shareholding of 75% to help support the company’s long-term growth plans.
The global aircraft charter specialist has held a minority holding in Magma since the company was launched in 2010 to commercially and operationally manage dedicated wide-body cargo aircraft, contracted on an exclusive basis from airline partners.
Effective May 1, 2017, Magma has also taken operational control of a second B747-400F from Air Atlanta Icelandic as part of its expansion plans.
Magma currently serves a global client base of freight forwarders, block space consolidators, charter brokers and airline partners with regular freighter flights to key niche African hubs, via its cargo operations center at Brussels Airport. The company is supported by independent sales agencies throughout the world and has developed a strategic network of local airlines and trucking partners to provide dedicated, bonded feeder services across the length and breadth of sub-Saharan Africa.
The new ownership structure will give Magma the financial backing to expand its network of cargo services, as well as affording the company enhanced access to the international ad hoc charter market. Magma will continue to operate as a stand-alone business, with two of the company’s founding shareholders, Ross Wilson and Tom Wrigley, retaining the remaining share capital and continuing to run the company as joint managing directors.
Commenting on the acquisition, Chapman Freeborn CEO Russi Batliwala, said
“We’re delighted to be increasing our stake in Magma. Over the past seven years, Magma has proved itself to be a highly-respected and dynamic supplier of all cargo capacity to niche destinations. We look forward to seeing its ongoing development as an independent company under the new structure.”
Tom Wrigley, Managing Director of Magma Aviation, said:
“We’re confident this new ownership structure will provide strong support for our future growth plans. We continue to be committed to providing flexible, cost-effective solutions to our customers and with their support, we look forward to further expanding our route network and charter capabilities on a global basis.”