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- Billions flow into Calgary’s aviation industry
Billions flow into Calgary’s aviation industry
Canada Growth Fund announces $50M commitment to Calgary-based Longbow Capital's Energy Transition Fund II.
Welcome to this week's Sunday Briefing. In this issue, learn about an 82-point plan from the Calgary Chamber of Commerce to revitalize the Canadian economy, and a South Korean life sciences company putting down roots in the city. Have a great day. We'll see you again on Wednesday.
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🗳️ Question of the Week
Do you currently work in Alberta's aviation industry? If not, would you consider it? |
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Photo: Unsplash
Billions flow into Calgary’s aviation industry
Calgary’s aerospace and aviation industry is — pardon the pun — taking off.
On Thursday, WestJet and Lufthansa Technik announced a multi-billion-dollar exclusive agreement which will see the European-headquartered company provide maintenance services for the engines that power WestJet’s Boeing 737 fleet. The 15-year contract is the largest in WestJet’s 30-year history.
“WestJet was founded on the idea of improving air travel and making it affordable for Canadians,” said Alexis von Hoensbroech, CEO of WestJet Group. “This historic contract award will allow us to bring critical engine repair operations home to Canada, and provide greater efficiency and cost certainty to a critical part of our operations, all while demonstrating our commitment to improving our competitiveness and supporting the Alberta economy.”
Lufthansa Technik will also establish a new repair station in Calgary dedicated to servicing the engines for near-wing and quick-turn work. The facility will feature a modern test cell — the first of its kind in Canada — for next-generation engines, and drive job creation in the region. Operations are set to begin in 2027.
The Calgary Airport Authority has signed a long-term lease agreement with Lufthansa Technik for the engine maintenance and test cell facility that will serve, amongst others, WestJet as a cornerstone customer. The $120-million investment has been secured with the support of the Government of Alberta, the Canada Infrastructure Bank, Prairies Economic Development Canada, and Opportunity Calgary Investment Fund, in collaboration with Calgary Economic Development.
In other aviation news, Telus announced a partnership with the Calgary Airport Authority that will see YYC become Canada's first airport to boast a high-performance 5G private wireless network.
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🤝 Funding, Deals, and Partnerships
Canada Growth Fund announces commitment to Calgary-based Longbow Capital's Energy Transition Fund II. As part of this transaction, CGF will commit up to $50 million. Canada Growth Fund
Trio of UCalgary projects receive financial boost from federal government. The funding is part of $13.4 million announcement for made-in-Alberta energy technologies. University of Calgary
Fluid Biomed: From a research project to an innovative health-care tech business. UCalgary startup attracted USD $27 million to keep the growth trajectory on track. University of Calgary
SAIT gets to work shaping tomorrow with $150 million Real Futures fundraising campaign to drive cross-campus transformation. The campaign reimagines applied learning to train tomorrow’s talent, today. SAIT
📰 Need To Know
Calgary Chamber calls for national plan to ensure Canadian economic prosperity. The Calgary Chamber of Commerce released an 82-point plan to address what it says has been Canada’s flagging domestic economy and competitiveness. Livewire Calgary
South Korean life sciences firm expands to make its mark in Calgary. This move marks the first South Korean investment in the sector in Calgary, further solidifying the city’s reputation as a hub for innovation and collaboration in life sciences. Calgary Economic Development
Gary Vaynerchuk to keynote Inventures 2025 in Calgary. Known for building and scaling multiple businesses, including VaynerMedia and VeeFriends, Vaynerchuk leverages digital innovation and bold strategies to drive success. Calgary.Tech
Edmonton and Calgary firms highlighted among ‘strong lineup of companies’ at CIX Startup Awards. At the Summit, attendees will engage in a curated program of on-stage content, founder pitches, networking sessions, interactive roundtables, and 1-on-1 meetings to foster connections between founders and investors. Calgary.Tech
Academic entrepreneurship: UCalgary's special capacity to solve tough challenges. The university lays out the opportunities, challenges, and path its established to turn discoveries into impact. University of Calgary
UCalgary spinoff selected for prestigious NATO DIANA accelerator program. The company’s new technology secures satellite signals with quantum-resistant methods. University of Calgary
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