if the magnet is in the aircraft, no. the motor is an internal combustion engine which does not rely on magnets and electric currents to power it. if all eletrical equiptment fails, the plane can still be landed. there is a manual over ride for gear, and the rest can be done with the controls that require no power to operate. the motor cannot cut out if there is a power faliure as the only way to kill the engine is to starve it of fuel.
Source: im a student pilot.