The present disclosure relates to an improved low-cost metallic coating to be deposited on gas turbine engine components. The metallic coating consists of 1.0 to 18 wt % cobalt, 3.0 to 18 wt % chromium, 5.0 to 15 wt % aluminum, 0.01 to 1.0 wt % yttrium, 0.01 to 0.6 wt % hafnium, 0.0 to 0.3 wt % silicon, 0.0 to 1.0 wt % zirconium, 0.0 to 10 wt % tantalum, 0.0 to 9.0 wt % tungsten, 0.0 to 10 wt % molybdenum, 0.0 to 43.0 wt % platinum, and the balance nickel.