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Magellan Aerospace’s Fall in a Booming Sky | Durham News
Magellan Aerospace Middletown, a U.S. plant of the Canadian aerospace giant, is filing for Chapter 11 with $10–50 million in assets but $50–100 million in debt—highlighting a stark contrast to the booming aerospace industry, where record aircraft backlogs and rising demand for engine parts fuel growth. The facility’s collapse stems from lost contracts on aging planes like the A340 and 747, a canceled A320neo deal from 2020, and heavy reliance on just three clients—80% of its revenue—leaving it vulnerable to market shifts and costly California environmental cleanup. This underscores a broader…
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