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

TSX:MALGE
  • GE Aerospace & Magellan Aerospace signed a strategic Memorandum of Understanding (MOU) at the Farnborough Air Show to establish Canadian maintenance, repair, & overhaul (MRO) capabilities for the F414-GE-39E engine powering the Saab JAS 39 Gripen E fighter.
  • The agreement is conditional on the Government of Canada proceeding with the acquisition of the Saab JAS 39 Gripen E fighter for the Royal Canadian Air Force fleet.
  • Under the MOU, GE Aerospace will provide training & license Magellan Aerospace as Canada's domestic center of excellence for engine sustainment, with MRO work conducted at Magellan's Mississauga facility.
  • The initiative aims to build enduring sovereign aerospace capabilities, retain highly skilled technical personnel, & strengthen Canada's defense industrial base in alignment with the national Defense Industrial Strategy.
  • The F414 engine boasts over five million flight hours, offers unrestricted performance, features a six-module architecture for low life-cycle costs, & has been delivered to eight nations.
  • More than 1,600 F414 engines have been delivered globally, with no scheduled overhauls required due to its on-condition maintenance design.