97-year-old aerospace manufacturer Magellan Aerospace Middletown files Chapter 11 bankruptcy

Magellan Aerospace Middletown Inc., a 97-year-old aerospace manufacturer based in Middletown, Ohio, filed for Chapter 11 bankruptcy on July 22, 2026, in the U.S. Bankruptcy Court for the Southern District of Ohio. The company, which produces jet engine nacelles, exhaust components, and heat-resistant space products, listed assets between $10 million and $50 million and debts between $50 million and $100 million, with over $82 million in unsecured obligations. The filing follows a winddown of key contracts, including those for Airbus A340, A318, A380, and Boeing 747 and 767 programs, as production of those aircraft ended. The company reported a net loss of $8.5 million on $26.3 million in revenue in 2025, and a net loss of $2.8 million on $16.8 million in revenue through June 2026. Founded in 1928 as Aeronautical Corporation of America, the company has a legacy including heat shields for NASA's Apollo and Space Shuttle programs. The debtor, which employs 109 workers, is seeking to preserve the business as a going concern and may consider a sale or other value-maximizing transactions.