GE Aerospace and Magellan Aerospace Sign Memorandum of Understanding for F414 Sustainment

Press Release + Noah Note

FARNBOROUGH AIR SHOW – July 22, 2026—GE Aerospace (NYSE:GE) and Magellan Aerospace Corporation signed a strategic Memorandum of Understanding (MOU) to establish maintenance, repair, and overhaul (MRO) capabilities in Canada for the F414-GE-39E engine that powers the Saab JAS 39 Gripen E fighter. The MOU is predicated on whether the Government of Canada proceeds with the acquisition of the Saab JAS 39 Gripen E fighter as part of the future Royal Canadian Air Force fighter fleet.

“Today’s MOU signing builds on a six-decade relationship between GE Aerospace and Magellan that spans both military and commercial engines and will ensure the Royal Canadian Air Force has access to engine sustainment services in country to ensure readiness of the F414 engines,” said Paul Ferraro, Vice President of Defense Engines & Services at GE Aerospace.

"This MOU reflects our shared intent to build enduring sovereign aerospace capabilities in Canada," said Haydn Martin, Magellan’s Vice President, Business Development, Marketing, and Contracts. "Should the Saab JAS 39 Gripen E aircraft be selected, Magellan Aerospace will be ready to provide world-class engine maintenance, repair and overhaul services that enhance operational readiness for the Royal Canadian Air Force while maintaining highly skilled Canadian jobs, developing advanced technical expertise, and strengthening Canada's long-term defence industrial capacity."

Under the agreement, GE Aerospace would provide training and license Magellan as Canada's domestic center of excellence for engine sustainment, delivering comprehensive MRO services to support the operational readiness, availability, and long-term performance of the Royal Canadian Air Force F414 fleet. The MRO work would take place at Magellan’s Mississauga facility. The initiative would represent the next phase of Magellan’s legacy of providing Canada with the sovereign capability for advanced military engine support, ensuring that critical maintenance expertise, specialized infrastructure, and highly skilled technical personnel are developed and retained within Canada. The capability would also strengthen Canada's defense industrial base drawing on the ‘build, partner, buy’ guidance described within the Defense Industrial Strategy for a critical element of the nation's future air combat capability.

With more than five million flight hours, the F414 engine continues to exceed goals for reliability, durability, and time on wing. The F414 offers unrestricted engine performance on demand with rapid engine throttle response and zero throttle restrictions. The engine’s six-module architecture is easy to maintain and interchangeable to keep life-cycle costs low. With no scheduled overhauls and on-condition maintenance, the F414 maximizes engine availability More than 1,600 F414 engines have been delivered to eight nations.

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About GE Aerospace

GE Aerospace is a global aerospace propulsion, services, and systems leader with an installed base of approximately 50,000 commercial and 30,000 military aircraft engines. With a global team of approximately 57,000 employees building on more than a century of innovation and learning, GE Aerospace is committed to inventing the future of flight, lifting people up, and bringing them home safely. Learn more about how GE Aerospace and its partners are defining flight for today, tomorrow, and the future at www.geaerospace.com.

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About Magellan Aerospace Corporation

Magellan Aerospace Corporation is a Canadian headquartered global aerospace company that provides complex assemblies and systems solutions to aircraft and engine manufacturers, and defence and space agencies worldwide. Magellan designs and manufactures aeroengine and aerostructure assemblies and components for aerospace markets, advanced proprietary products for military and space markets, and provides engine and component repair and overhaul services worldwide. Magellan is a public company whose shares trade on the Toronto Stock Exchange (TSX: MAL), with operating units throughout North America, Europe, and India.

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Noah Note: Saab is slowly building up the team again, and Magellan secures another major win. This might be Magellan’s breakout by this point. You got Torpedoes from multiple clientele on the books, M72, and now this, on top of rumors of other stuff. Safe to say that Magellan is winning hard among many.

StandardAero out of Winnipeg was the original lead MRO supporter in the OG Gripen for Canada bid. I have yet to hear them mentioned again in the cintext of the current review. Whether they play support or are out, can't say. Since the Gripen loss, StandardAero has been expanding and establishing themselves more.

They went Public a few years ago, acquired both PTS Aviation and Unified Turbines. They're also doing the MRO on the CFM LEAP engines, which has certainly been a major win and has kept them fairly busy. Whether they find a way in here is yet to be seen.

No matter what, there is an understanding that things are moving to a conclusion, and folks will be showinf their cards to try and push the balance in amy ways. Don't get two agreements near back to back after a year of silence if nothing was expected to be coming. Ehat that final choice will be who knows, but we are definetly nearing the end stage.