Magellan Aerospace Secures Multi-year Airbus Contract Renewal

Magellan Aerospace Corporation (“Magellan”) announced today a contract extension between Magellan Aerospace (UK) Limited and Airbus SAS (“Airbus”) for the supply of aluminum and titanium structural wing components from Magellan UK’s facilities located throughout Europe and India. This contract renewal is comprised of precision machined details and assemblies for use on the A320 and A330 aircraft.

Mr. Phillip C. Underwood, President and CEO of Magellan said, “This scope of work with Airbus demonstrates our commitment to align with our customer’s strategy through operational efficiency and continuous improvement. The long-term nature of the contract will allow Magellan to make infrastructure adjustments in our European and Indian facilities to ensure that we are able to offer our customer a competitive and reliable source during the challenging years to come as the commercial aircraft sector recovers.”

About Magellan Aerospace Corporation

Magellan Aerospace Corporation is a 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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