May 9 - Chapman Freeborn Airchartering has increased its stake in UK-based Magma Aviation to a majority shareholding of 75 percent to help support the latter'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 Aviation, which handles difficult or over-dimensional cargoes, as well as urgent relief cargo, perishables, live animals, oil and gas, and hazardous substances, has also taken operational control of a second Boeing 747-400F 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 centre at Brussels Airport.
Chapman Freeborn says that 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 standalone 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's clients will continue to enjoy access to Magma's freighter fleet alongside the company's existing client base.