China and Estonia boost collaboration in aviation industry

Magnetic MRO and Guangzhou Hangxin Aviation Technology completed the full acquisition and change of shareholder structure by celebrating this milestone with a private ceremony, which took part in Lennart Meri Tallinn Airport.

It is recorded as China’s largest investment deal in Estonia, worth 43 million euros (about 51.43 million US dollars) of equity value. Guangzhou Hangxin Aviation Technology has officially become the parent company and strategic investor of Magnetic MRO to expand its worldwide MRO presence.

Li Chao, Chinese ambassador to Estonia, termed the acquisition deal as strong-strong union to promote and expand bilateral cooperation, which implements the Belt and Road Initiative.

With the booming development of China's air transport industry, China has become the fastest growing civil aviation maintenance market in the world. From 2014 to 2018, the total market of Chinese civil aviation maintenance increased from 36 billion yuan to about 68 billion yuan.

Under this background, Civil Aircraft Operation Support Technology International Forum(CAOSTIF) will be held on September 13th-14th in Chengdu, China.

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