Freighter firm Magma Aviation has provided more details on its plans to add medium-size freighters to its fleet later this year.
Magma chief executive Peter Kerins said that the airline is hoping to add mid-size freighters to its fleet in the third or fourth quarter of the year.
Although he did not mention which freighter type the company was aiming to add, Eric Erbacher, chief executive of parent company Chapman Freeborn, had previously told Air Cargo News that the company was hoping to one day add medium widebody Boeing 767 or Airbus A330 freighters.
Kerins said the move to add medium-sized aircraft comes as market conditions for widebody freighters at the end of 2024 did not make securing long-term lease deals a viable option, and this trend is anticipated to continue into 2025.
The company currently offers capacity on three Boeing 747 freighters and last year took on an Airbus A321-200F and a Boeing 737-800F from its ultimate owner Avia Solutions Group (ASG).
Last year also saw Magama add a Dubai office, open a new global headquarters in Dublin to capitalise on leasing opportunities and sign up WFS for cargo handling in Liege.
“We have established our global services here because Dublin is a global aviation hub,” Kerins said. “This has allowed us to start developing better relationships with leasing companies.
“Approximately 50% of the world’s aircraft are leased from Ireland. To grow the company’s network, it is essential to strengthen our position here as new, more efficient, long-range aircraft come to market.”
On the Dubai office, he added: “Due to Dubai’s strategic central location, it is a well-connected hub from which we can access new markets.
“This allows us to manage the existing African and Middle Eastern routes, while focusing on expanding our presence in Southeast Asia, the Indian Subcontinent, and China.”
Elsewhere, the company also has plans to expand its sales agent partners in areas where it intends to expand its network.
“These sales partners will become a key part of our sales strategy going forward and will be responsible for introducing Magma Aviation into markets where we have not had a presence previously. Our commercial team will work hand in hand with these partners,” he said.
