Chapman Freeborn takes main stake in Magma Aviation
09 / 05 / 2017
Chapman Freeborn Airchartering has increased its stake in UK-based aircraft management firm Magma Aviation to 75%.
Chapman Freeborn held a minority holding in Magma since it was launched in 2010 to commercially and operationally manage wide-body cargo aircraft, contracted on an exclusive basis from airline partners.
At the same time Magma has also taken operational control of a second B747-400F from Air Atlanta Icelandic.
Magma currently serves freight forwarders, block space consolidators, charter brokers and airline partners with regular freighter flights to key African hubs in Benin, Cameroon, Central African Republic, Congo, Democratic Republic of Congo, Egypt, Gabon, Kenya, and Togo from its Brussels Airport base. 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 throughout sub-Saharan Africa.
Chapman Freeborn says the new ownership structure will give Magma the financial backing to expand its network of cargo services, as well enhanced access to the international ad hoc charter market. Chapman Freeborn’s clients will continue to enjoy access to Magma’s freighter fleet alongside the company’s existing client base.
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.
Chapman Freeborn chief executive Russi Batliwala, commented: “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.”
Managing director of Magma Aviation, Tom Wrigley, added: “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.”